31st Sea Games - Vietnam 2021 Covid-19 Pandemic
Home / Economy / Trade - Service
KRX-developed trading system set to start operation this year
Hai Yen 11:16, 2022/07/29
The economy’s firm recovery has been a source of optimism for a market rebound in the coming time.

Vietnam’s stock authorities are pushing for the implementation of a new stock trading system developed by the Korea Exchange (KRX), South Korea’s bourse operator, with the launching date set to be a few months away.

 Investors at a securities company in Vietnam. Photo: Tran Quynh

“The technological system for the stock market should be constantly updated and modernized, for which the authorities are looking for more solutions to support the market’s long-term development.”

Vice Minister of Finance Nguyen Duc Chi gave the remarks at a meeting on the development of Vietnam’s stock market held on July 28.

The market performance after a booming period during the pandemic has been in the correction phase since early 2022.

Chi, however, expected the firm economic recovery process has been a source of optimism for a market rebound in the coming time.

“The inflation situation remains under control, the state budget has been positive, and strong business results of public listing companies in the second quarter are factors that would ensure sustainable development of Vietnam’s stock market in the coming time,” Chi said.

In the near future, Chi said the Ministry of Finance (MoF) and relevant agencies are committed to creating the utmost favorable conditions for the stock market’s development.

Chi also stressed the necessity to strictly deal with any irregularity in the stock market to ensure its transparency and healthy development.  

Another key task mentioned by Chi is to finalize the legal framework and develop new market products, to support the upgrade of the bourse from its current frontier to its emerging status.

In 2012, the HoSE and KRX signed a deal worth VND600 billion (US$26.14 million) for the latter to develop a new IT system to be used in the local stock market. The completion, however, was delayed until now due to the Covid-19 outbreak.

RELATED NEWS
TAG: Vietnam stock market krx vietnam securities vietnam
Other news
18:08, 2022/08/30
Vietnam ensures steady rice supply for Cuba
Rice remains the key product that Vietnam has sometimes offered Cuba for free over the past years while transferring farming techniques to the country of brotherhood.
15:37, 2022/37/30
Trade cooperation: Highlight of Vietnam-EU relations
Vietnam's trade relations with most European markets have experienced positive growth, not only with Germany, the Netherlands and France, but also other markets in northern, central and southern Europe.
18:58, 2022/58/29
[Inforgraphic] Hanoi's tourism revenue in 9 months
The city's tourism industry is expected to execute a busy cultural and artistic plan in the last months of 2022 to attract international visitors.
16:01, 2022/01/29
Vietnam’s 9-month GDP growth at a 12-year high
The economy is on track to surpass the Government target of 6-6.5% this year.
14:35, 2022/35/27
Vietnam among fastest growing economies in East Asia – Pacific region: WB
The GDP growth would rebound to 7.2% in 2022 and moderate to 6.7% in 2023.
16:58, 2022/58/26
Trade ministry eyes Vietnam’s exports to end 2022 on a high note
A diversified network of free trade agreements (FTAs) that Vietnam is a part of serves as a significant boost for the country's exports.