Looking back on 20 years of external activities of the State Securities Commission

	Failure to hold General Meeting of Shareholders, enterprise may request an extension
	State Securities Commission: investors worrying about Covid-19 epidemic

Leaders of the State Securities Commission and UK Financial Enforcement Agency sign a cooperation agreement at the UK Investment Promotion Conference in July 2019. Photo of SSC.

Learn from international experience

In recent years, the State Securities Commission (SSC) has effectively implemented external activities in the region and internationally to strengthen its management role and seek support channels and implement measures to promote the image, in order to promote the securities market (stock market) by increasingly perfecting and developing according to international standards.

According to the SSC, the stock market is a high-level institution of the market economy. Each market of each country has its own characteristics depending on its own legal system. Learning knowledge and experience in organizing markets from countries around the world is the most necessary and successful achievement of the State Securities Commission to combine experiences of different markets to build Vietnam's stock market in accordance with Vietnam's legal system, economic characteristics and safe and efficient market operation.

From 2000 to 2010, the SSC focused all resources to build a uniform legal framework and protect domestic and foreign investors. Decree 144/2003/ND-CP of November 26, 2003 on securities and stock market was created as the first legal document of the market, with the contribution of international experts.

During this time, bilateral and multilateral international cooperation in the securities market has completely changed in terms of quality. Bilateral cooperation activities do not stop at cooperating to exchange cadres, exchanging information on the field of securities in general, but have enteredinto more specific and substantive cooperation activities, bringing about technical products andsupporting the development of the market. These products are aresult of a series of market development projects, the development of the Securities Law and the strengthening of the securities industry.

Typical projects ininternational cooperation in the field of securities includecapital market development project supported by the World Bank (WB) and theproject VIE026 "Development of Vietnam's capital market" by the government of Luxembourg.

From 2010 to now, Vietnam’s stock market has come a long way with many diverse products. The number of listed companies, securities companies andfund management companies is increasing, while investors are increasing and getting more experience in the stock market. The SSC has constantly implemented cooperative activities through developing and expanding relationships with partners, international organisations, and regulatory bodies of countries such as Japan, South Korea, the United States, Germany, Luxembourg, and the UKto attract funding, support and advice from developed countries.

Actively participate in international agreements

Along with supporting the development of new policies and new products for Vietnam's stock market, the SSC has coordinated with international organisations, enlisted resources from partners to support listed enterprises and the public can effectively access and implement new market requirements.

In addition, the SSC has participated in international agreements towards the deep integration of the stock market. Participation in international integration agreements means Vietnam is obliged to accept common rules and pledges to liberalise committed areas including financial services and securities.The integration and international cooperation have also contributed to enhancing the position and participation of Vietnam's Securities industry in multilateral securities organizations and activities.

The SSC has joined as a regular member, then a top-level member, with a high position and responsibility at the most important organization of the World Securities Industry - IOSCO, the organization that sets industry standards , as well as organizations and forums of the continent and the region, trusted by friends, through sharing and consultation of valuable information for market management.

According to the SSC, in the near future, the SSC will continue to implement bilateral cooperation projects and programmes with traditional partners, and at the same time enhance search and expansion of cooperation relationships with new partners.

The SSC will focus on proposing new technical assistance to foreign partners to take advantage of the experience and gray matter of foreign experts, support the completion of the legal framework and complete the marketing structure and capacity building for officials of regulatory agencies and market operators.