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Official Gazette

Saturday, August 15, 2020
Tags: stock exchange
New revised Securities Law available on Official Gazette issues Nos. 136-144 of 2019 New revised Securities Law available on Official Gazette issues Nos. 136-144 of 2019
Adopted in late 2019 with many new changes, the amended Law on Securities, available on Official Gazette issues Nos. 136-144 of 2019, is expected to make a positive impact on the Vietnam’s stock market.
Official Gazette issues Nos 07-09/2019 published on May 04 2019 Official Gazette issues Nos 07-09/2019, published on May 04, 2019
Draft Securities Law proposes expanding foreign holding cap Draft Securities Law proposes expanding foreign holding cap
The Ministry of Finance has recently held a series of conferences to collect opinions from legal experts and stakeholders on the draft Securities Law, focusing on such issues as conditions for acquiring public company status and foreign holding cap in public companies, public offering and private placement of stocks and bonds, powers of the State Securities Commission, and organizational and operational model of Stock Exchanges.
Nine solutions for a sustainable securities market Nine solutions for a sustainable securities market
Since its founding 22 years ago, Vietnam’s securities market has significantly grown and constantly improved its structure as an important capital raising channel of the economy, contributing to improving the market economy institution and promoting international integration.
Practical derivatives market operation mechanism required Practical derivatives market operation mechanism required
Deputy PM Vuong Dinh Hue has asked related management agencies to focus on preparing a strategy for development of the securities market through 2020 with a vision toward 2030, submitting to the Government a plan to merge the two stock exchanges, and amending the Securities Law in which priorities should be given to building the legal framework for future development of derivatives and derivatives market.
Legal requirements for information disclosure and transparency in the equitization of SOEs Legal requirements for information disclosure and transparency in the equitization of SOEs
According to a government report, during 2011-15, 508 SOEs were equitized. The speed of equitizing big SOEs has been recognized to increase significantly over the past five years. As of October 2016, there remained 718 companies in which the State held 100% of charter capital. For the period from 2016 to 2020, the Government has identified enterprises where the State holds 100% of capital and dominant shares, including those operating in key industries, important geographical areas, and security and defense fields, applying high technologies, requiring large-scale investment and creating socio-economic impetus that lack investment from other sources.
HNXs efforts to improve trading quality HNX’s efforts to improve trading quality
A decision recently issued by the Hanoi Stock Exchange, allowing brokerages to become market makers, is expected to improve the trading quality of Vietnam’s securities market.
Securities Law to be revised this year Securities Law to be revised this year
In 2017 the State Securities Commission will focus on formulating a revised Securities Law along with further completing the legal framework on securities in tune with international practices.
Relaxation of the 49-percent cap on foreign ownership in Vietnamese public companies Relaxation of the 49-percent cap on foreign ownership in Vietnamese public companies
As an effort to attract foreign investors in Vietnam’s stock market, on June 26, 2015, the Government issued Decree No. 60/2015/ND-CP amending some articles of Decree No. 58 (Decree No. 60). Among the changes, the most welcomed amendment is the relaxation of the overall 49-percent cap on foreign ownership in Vietnamese public companies. Decree No. 60 will be effective as of September 1, 2015.
State Securities Commission proposes shift to intra-day trading State Securities Commission proposes shift to intra-day trading
Investors would be allowed to buy and sell shares of the same company back and forth on the same trading day if a draft circular recently unveiled by the State Securities Commission is approved.

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