Deputy Prime Minister Le Minh Khai 

Deputy PM Le Minh Khai yesterday signed an official letter conveying the PM's direction to ministries of the Public Security, Finance, Planning and Investment, Information and Communications, the State Bank of Vietnam, and the State Securities Commission of Vietnam.

The Prime Minister required these above-mentioned ministries to take action for the stable operation of the stock market and the corporate bond market.

In order to ensure a stable, healthy, transparent, safe, and sustainable development of the stock market and corporate bond market, the government requested these ministries and related agencies to perform effectively and synchronously with the tasks and solutions assigned in the Prime Minister’s prior dispatch to correct and stabilize the operation of the corporate bond market. 

These bodies must work together for the healthy and transparent operation of the stock market and corporate bond market as well as protect the legitimate interests of investors in accordance with the law.

The Ministry of Finance, the State Bank of Vietnam, and the Ministry of Planning and Investment proactively monitor developments of the financial, monetary, securities and bond markets in the country and internationally to promptly implement taking measures to stabilize the market.

Additionally, these ministries and the state bank must provide official and accurate information on the policy, and the orientation of macroeconomics and ensure the safety of the financial and monetary system. Last but not least, these bodies must carry out the drastic and effective implementation of the Recovery Program economy and business results of enterprises to make investors reassured.

Listed companies, issuers and market members were required to proactively disclose information in accordance with regulations, not to allow violations of information disclosure that affect market sentiment, investors’ overall attitude toward a particular security or financial market.

The Prime Minister assigned the Ministry of Information and Communications to continue directing press agencies to strengthen the provision of timely, official and accurate information on the operation of the stock market, the bond market and business performance of enterprises, and macroeconomic analysis.

Above all, responsible agencies must issue tougher penalties on those who spread incorrect information on social media causing negative impacts on the operation of the market.

The Ministry of Public Security shall closely coordinate with the Ministry of Finance, the State Bank of Vietnam and relevant agencies to grasp the development of the stock market and corporate bond market; especially strictly handle violations of the law, especially acts of reporting false and inaccurate information causing chaos in the market.

Source: SGGP