There will be many solutions to closely monitor the stock market to develop healthily.

Also attending the conference were Deputy Prime Minister Le Minh Khai, leaders of many ministries, departments, branches, representatives of diplomatic agencies, international organizations, banks, associations, and enterprises listed on the stock market.

Many listed companies are having difficulty doing business.

Presenting a summary report on the Vietnamese stock market, Chairwoman of the State Securities Commission Vu Thi Chan Phuong said that by the end of 2023, the VN-Index would increase by more than 12% compared to 2022. The State Securities Commission (SSC) assessed that this was a good growth rate compared to other markets in the context of many fluctuations in the world.

Regarding market liquidity, statistics show that for the whole year, the average transaction reached 17,579 billion VND/session, down nearly 13% compared to 2022.

Also in 2023, the total capital mobilized through the stock market reached VND 418,271 billion, an increase of 33.5% over the previous year.

The State Securities Commission has completed the registration of 15 public companies and canceled the registration of 41 public companies, bringing the total number of listed enterprises to 1,733.

However, the performance of listed companies is still difficult. Specifically, the total accumulated net revenue in 2023 is more than 3.77 million billion VND, down 3.18% compared to the previous year. The total accumulated profit after tax in 2023 is 396.3 trillion VND, down 8.84%,

The positive point is that the company's business results have improved in the second half of 2023. In the fourth quarter alone, total revenue and profit both increased by 2.5% and 46% respectively compared to the same period last year.

Another noteworthy point is that last year, the level of punishment for companies violating the market occurred more frequently with increasingly sophisticated and complicated violations, so inspection, examination and strict handling of violations have been stepped up.

In summary, there were 78 inspection teams, issuing 475 decisions on penalties with a total amount of nearly 43 billion VND, applying many additional penalties and remedial measures.

Regarding prominent cases in the market with signs of criminal law violations, the State Securities Commission said it has proactively coordinated with investigative agencies to investigate, verify, and clarify. Typical cases cited by this agency include: the FLC stock price manipulation case, the Louis Holding case, the APEC case, etc.

There will be many solutions to make the market healthy.

Regarding the 2024 solution, the Chairman of the Securities Commission said that he will continue to improve the legal framework and market development policies.

In conjunction with promoting restructuring of the stock market, improving the operational capacity of securities companies, supervising the application of financial technology, customer identification and electronic payment, investment consulting services, and promoting digital financial transactions.

The Commission will also strengthen close supervision, regularly and continuously monitor each company, conduct on-site inspections, develop plans for each securities company to take measures to handle and strictly handle violations.

Develop investment fund products, supplement detailed regulations on index funds to facilitate the development of this type of fund in Vietnam...

Another solution proposed is to diversify products and improve the quality of goods on the market. This includes encouraging all types of businesses to make initial public offerings, associated with listing and trading registration; issuing a variety of government bond terms, encouraging the issuance of green government bonds, green local government bonds, green enterprises; futures contracts, etc.

Strengthening information compliance inspection, supervising the provision of auditing services by enterprises, improving the quality of information disclosure by public companies, and improving the quality of annual reports.

The Chairman of the Securities Commission also emphasized the development and diversification of the investor base, improving the quality of investment demand towards sustainable investment. Strengthening supervision, inspection, examination and handling of violations, including the development of professional standards on transaction supervision.

Build a set of tools to support transaction data analysis, transaction monitoring, classifying stock codes according to analysis reports, complaints, recommendations and denunciations, or rumors to decentralize, process, and improve monitoring efficiency; deploy inspections...