Investors’ interests still protected (Minister of Finance)

VIETNAM, November 12 –

HCM CITY – Finance Minister Hồ Đức Phớc said, “With the growth of the economy, our financial market is always good” and that “investors’ interests are always protected”.

Ranked among the most profitable stock markets in the world, Việt Nam has more than 4.9 million accounts opened by domestic retail investors, representing about 5% of the country’s population and close to the target set by the government for 2025.

But its rapid development in a volatile economic environment has revealed some shortcomings that need to be addressed to ensure sustainability in the future.

“Recently, a number of companies offering private bonds violated the law by providing false information to customers and are facing criminal charges,” Phớc said.

“A number of securities companies that have committed violations in the provision of services are also being investigated.”

Speaking to the media recently, he said investors’ interests are protected in accordance with the law and the key principle is that bond issuers are fully responsible for their activities.

His ministry worked with bond issuers to protect investors’ interests, and they promised they would pay in full when their bonds matured, he said.

“We will actively monitor and protect the interests of investors.”

The government and the Ministry of Finance are acting urgently to ensure that investors get their money back, including freezing the accounts of offenders to ensure reimbursement to investors.

The government issued Decree No. 65/2022/ND-CP to amend and supplement a number of articles of Decree No. 153/2020/ND-CP on the offering and trading of private placement bonds on the domestic market and the sale of corporate bonds in the domestic market. international market, he said.

In addition, Prime Minister Phạm Minh Chính issued two documents directing ministries and agencies to effectively implement measures to ensure that stock and corporate bond markets operate in a stable, healthy, transparent, safe and sustainable manner and to protect the legal rights and interests of investors.

The government is committed to ensuring steady development of equity and corporate bond markets as they are an efficient channel for raising capital for businesses, he said.

The government’s message is very clear: protect the legal interests of investors and strengthen the legal and institutional system to ensure the healthy development of stock and bond markets, he added.

Phớc said his ministry plans to review mechanisms and policies related to the securities market, especially the corporate bond market, to make appropriate changes to promote market development and protect the legitimate interests of investors. investors.

Government policy is not to criminalize economic relations and civil transactions, but to ensure that there is a legal environment conducive to safe, sustainable and transparent stock and bond markets. —VNS

Robert D. Coleman