Stock market in Vietnam in 2023 is believed to have a strong rebound

Vietnam’s stock market will bounce back strongly and develop in both quantity and quality in 2023 to remain an effective capital mobilisation channel for the economy, said an official.

On January 3, Deputy Minister of Finance Nguyen Duc Chi made the remark about the stock market at a gong-beating ceremony held at the Hanoi Stock Exchange (HNX) to mark the first trading session of 2023.

Due to the Deputy Minister, despite many fluctuations, the stock market still ran stably, safely, and smoothly in 2022, the capital raised was high, most of the listed companies operated stably and profitably, and domestic and foreign investors’ engagement in the market remained on the rise.

Deputy Minister of Finance Nguyen Duc Chi speaks at the ceremony on January 3. (Photo: VNA)
Deputy Minister of Finance Nguyen Duc Chi speaks at the ceremony on January 3. (Photo: VNA)

For 2023, Deputy Minister Nguyen Duc Chi asked the securities sector to focus on such tasks as overhauling the Law on Securities and relevant legal regulations, improving the market’s quality and the financial capacity and competitiveness of market participants, and developing the IT system for market management and supervision.

He also ordered measures be carried out to tackle difficulties, facilitate the equitisation and listing of State-owned enterprises to increase the quantity and quality of stocks in the market, enhance market management, and stringently deal with any violation, thus guaranteeing discipline, protecting investors’ interests, and ensuring the market’s healthy activities.

The Ho Chi Minh Stock Exchange (HoSE), Vietnam’s main bourse, saw market capitalization decline by VND1,820 trillion (US$77 billion) in 2022 as the benchmark VN-Index fell by double digits.

The market cap fell by 31% to VND4,017 trillion after rising to VND5,838 the previous year.

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