Japan joins hands with Vietnam to boost transparency of equity market

In the seminar, the Japan International Cooperation Agency's (JICA) consultant team reported the key findings of a baseline survey of Vietnam’s securities market and market participants, which can provide a background for analysis and feasible solutions to design related capacity building programmes for their Vietnamese counterparts, after a brief presentation from the project owner (State Securities Commission – SSC) to introduce the project.

The seminar was opened by a presentation from the Japan Financial Services Agency (JFSA) about the history and restructuring of the Japanese securities market since the 1980s, which holds many lessons for Vietnam.

Under the framework of the JICA-funded project, JICA’s strong team of top Japanese experts from Japan Exchange Group, Daiwa Research Institute, and Nomura Research Institute provide support directly to the SSC and the two Stock Exchanges (SEs) in Hanoi and Ho Chi Minh City, through various activities, including close consultancy and capacity building for updating internal operation guidelines and/or revising the related legal framework.

Vietnam and Japan co-operate on the project for "Capacity Building on Improving Fairness and Transparency of Vietnamese Equity Market"

The project is hoped to bring the best international practices to Vietnam in an important transition period when the Securities Law is now under scrutiny for revisions, the “Strategy for Restructuring of Securities Market by 2020 with a vision to 2025” has just been renewed, and the two SEs are soon to be united into a single Vietnam Stock Exchange.

The Record of Discussion of this Project, signed on November 5, 2018, set the first stone for the three-year project aiming at improving the capacity of SSC and two SEs in implementing measures to improve the fairness and transparency of the Vietnamese equity market. It will share techniques and experiences with Vietnamese counterparts to conduct market surveillance, supervise market intermediaries, manage listing and public offering, and raise the awareness of enterprise leaders on investor protection.

From that, the project is expected to help bring more qualified products of state-owned and private enterprises to the market, as one of the factors upgrading the stock market and contributing to socio-economic development.

For more than two decades, JICA has been supporting the Government of Vietnam to develop market-oriented economy and promote international economic integration through various technical and financial co-operation projects. For the securities sector, JICA has been supporting many capacity-building activities, including joint researches/surveys and training courses on the bond and stock markets.

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