The conference took place as Viet Nam’s stock market pursues stable, sustainable development and achieve an upgrade under the Stock Market Development Strategy through 2030.
According to the Ministry of Finance, the quality of corporate governance, the reliability of financial reports, and information transparency are critical pillars for strengthening investor confidence, improving the economy’s ability to mobilise medium- and long-term capital, and enhancing the competitiveness of Vietnamese businesses.
In her opening remarks, Chairwoman of the State Securities Commission (SSC) Vu Thi Chan Phuong noted that after more than 25 years of development, Viet Nam’s stock market had made significant progress in terms of scale, quality, and integration, increasingly affirming its role as an important channel for mobilising medium- and long-term capital for the economy.
Last year, FTSE Russell officially announced the reclassification of Viet Nam’s stock market from frontier market to secondary emerging market status.
On September 21, a number of shares of Vietnamese listed companies are expected to be included in FTSE’s index basket, while FTSE’s passive funds will begin trading on Viet Nam’s stock market.
According to the SSC leader, a larger market, higher liquidity, and enhanced capacity to draw international capital must be accompanied by a corresponding improvement in the quality of market participants.
Phuong stressed that corporate governance, financial reporting, and information transparency have been identified as core foundations in this regard.
At the conference, delegates discussed further improving the legal framework for corporate governance, financial reporting, and information disclosure in line with international principles and practices; enhancing the roles and responsibilities of boards of directors, executive boards, and corporate managers; improving the quality of financial reports and the timeliness of information disclosure; and strengthening supervision, inspection, examination, and the handling of violations.
The SSC leader said that in recent years, the legal framework governing corporate governance and financial reporting for public companies had been steadily refined.
However, alongside positive developments, most businesses currently only meet regulatory requirements. The number of companies adopting good governance practices remains modest and is not commensurate with their development potential.
Speaking at the conference, Deputy Minister of Finance Nguyen Duc Chi stressed that, as Viet Nam pursues high-growth targets and deeper international integration, improving corporate governance and information transparency must be carried out urgently, comprehensively, and substantively.
He asked the SSC to coordinate with relevant agencies to fully collect the opinions and recommendations raised at the conference and study improvements to regulations on corporate governance.
The deputy minister also called for research into mechanisms to encourage businesses to adopt international best practices in corporate governance, rather than merely meeting the minimum legal requirements.
