In his speech, Mr Son underlined the need to increase the efficiency of market management and supervision, protect the legitimate rights and interests of investors, increase competitive capacity and boost integration into the international financial market.
In terms of development strategy, total market capitalisation is expected to reach 60-70 percent of the country’s GDP in 2015 and 90-100 percent of GDP in 2020.
Dr, Vu Dinh Anh, Deputy Head of the Market and Price Research Institute under the Ministry of Finance said that the strategy for developing securities market needs to fit in with the strategies for socio-economic development and financial development until 2020.
The operational scale and quality of securities companies should be restructured to reduce the current number of 100 companies to 50, with an average market share of US$4 billion each.
To reach that goal, it is imperative to perfect the legal framework and related institutions including the Securities Law and other legal guidelines, increase the supply of resources for the securities market and the operational efficiency of State management agencies while enhancing the role played by the securities associations, Mr Anh noted.