Upgrading the stock market from a frontier market to an emerging market.

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On March 27, 2024, the Government Office issued Announcement 122/TB-VPCP on the conclusion of the Prime Minister at the Conference on the implementation of the task of developing the stock market in 2024.

- The Ministry of Finance is the lead agency, in coordination with related agencies:
+ Urgently implement necessary measures to upgrade the stock market, especially focus on solving difficulties and obstacles to meet the criteria for upgrading; Coordinate closely with the State Bank of Vietnam, the Ministry of Planning and Investment and related agencies to quickly, timely and effectively handle the obstacles within the function, task. Report the results of implementation in June 2024.
+ Urgently review, amend, supplement Decree 155/2020/ND-CP, ensuring tight, transparent, consistent, unified, in line with legal regulations and international customs. Report to the Government before June 30, 2024.
- The Ministry of Planning and Investment is the lead agency, in coordination with the Ministry of Finance, the State Securities Commission and related agencies urgently review, fully announce the maximum foreign ownership ratio of conditional business sectors or restricted access to foreign investors; regularly update on the electronic information page of the Ministry in both Vietnamese and English languages. Complete in May 2024.
- The Ministry of Planning and Investment, the State Bank of Vietnam proactively implement the above tasks and report the results of implementation to the Ministry of Finance before May 31, 2024 for synthesis, report to the Prime Minister in June 2024.
- Direct the State Securities Commission to take the lead in coordinating with related agencies to urgently review comprehensively, thoroughly inspect the securities trading system, the information technology system, proactively build risk control procedures, handling measures, respond to urgent situations. This announcement takes effect from March 27, 2024.
This Announcement is in effect from March 27, 2024.


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