|
PRIME MINISTER
-------
|
SOCIALIST
REPUBLIC OF VIETNAM
Independence - Freedom - Happiness
---------------
|
|
No. 32/QD-TTg
|
Hanoi, January 7,
2019
|
DECISION
APPROVING THE
PROPOSAL FOR ESTABLISHMENT OF THE STOCK EXCHANGE OF VIETNAM
THE PRIME MINISTER
Pursuant to the Law on Government Organization
dated June 19, 2015;
Pursuant to the Law on Securities dated June 29,
2006 and the Law on Amendments and Supplements to certain Articles of the Law
on Securities dated November 24, 2010;
Pursuant to the Law on Enterprises dated
November 26, 2014;
Pursuant to the Law on Management and Use of
State Capital Invested in Business Activities of Enterprises dated November 26,
2014;
Upon the request of the Minister of Finance,
...
...
...
Bạn phải
đăng nhập hoặc
đăng ký Thành Viên
TVPL Pro để sử dụng được đầy đủ các tiện ích gia tăng liên quan đến nội dung TCVN.
Mọi chi tiết xin liên hệ:
ĐT: (028) 3930 3279 DĐ: 0906 22 99 66
Article 1. Approval of the proposal for
establishment of the Stock Exchange of Vietnam, including the following main
contents:
1. Objectives
a) Overall objectives
Establish the Stock Exchange of Vietnam in the form
of a parent – subsidiary company on the basis of rearrangement of the Stock
Exchange of Hanoi and the Stock Exchange of Ho Chi Minh city with the objective
of unifying markets for trading of securities, ensuring effectiveness,
equality, public disclosure and transparency for securities markets; intensify
the management, surveillance and protection of legitimate rights and interest
of market participants; contribute to promoting the rank of the stock market of
Vietnam; enhance the competitiveness and gradually approach international
standards and practices.
b) Specific objectives
- Set up the perfect machinery on the basis of
using only one focal point of administration and risk management with a view to
improving the efficiency of the organization structure of the Stock Exchange of
Vietnam; enhance the autonomy and self-responsibility in organizing market
activities according to the provisions of law.
- Carry out the effective restructuring of the
securities trading market in Vietnam on the basis of clearly distinguishing the
three main market zones, including: stock trading market, bond trading market
and derivative securities market; focus on the specialization and
professionalization of activities, and promote the roles of a stock market in
the economic growth.
- Develop modern and synchronous infrastructure and
information technologies for stock markets, including transmission lines,
databases and standby systems, in order to create favorable conditions for
participants in the stock market and develop the ability to connect with
regional and global stock markets.
- Carry out the uniform financial and technological
investment management; promote the efficiency in use of funds and concurrently
set up the perfect financial mechanism in order to ensure relevance to the
operational characteristics of a Stock Exchange.
...
...
...
Bạn phải
đăng nhập hoặc
đăng ký Thành Viên
TVPL Pro để sử dụng được đầy đủ các tiện ích gia tăng liên quan đến nội dung TCVN.
Mọi chi tiết xin liên hệ:
ĐT: (028) 3930 3279 DĐ: 0906 22 99 66
2. Viewpoints and principles
Establishing the Stock Exchange of Vietnam on the
basis of rearrangement of the Stock Exchange of Hanoi and the Stock Exchange of
Ho Chi Minh city must adhere to the following directives and principles:
a) Comply with relevant legislative regulations,
including Securities Law, Enterprise Law, Law on Management and Use of State
Capital invested in production and business activities of enterprises,
especially the Securities Law as a specialized law that is preferred.
b) The Stock Exchange of Vietnam must be
established according to the roadmap and appropriate steps to ensure that such
establishment will not affect the trading activities on the stock market, will
not make any increase in the number of employees, and will not cause any
disruption to the organizational structure, personnel, professional operations
and financial management of stock exchanges.
c) Strengthen the roles in state management and
supervision of and the roles of state ownership representatives at enterprises,
ensure the securities market operates safely, openly and transparently, and
improves the operational efficiency of stock exchanges.
3. Major contents
a) Operational model
- The Stock Exchange of Vietnam shall operate in
the model of a wholly state-owned limited liability company and in the form of
a parent – subsidiary company managed by the Ministry of Finance as the state
capital owner’s representative, and shall be based in Hanoi.
- The Stock Exchange of Hanoi and the Stock
Exchange of Ho Chi Minh city shall be subsidiaries wholly owned by the Stock
Exchange of Vietnam, shall operate independently and have legal personality.
...
...
...
Bạn phải
đăng nhập hoặc
đăng ký Thành Viên
TVPL Pro để sử dụng được đầy đủ các tiện ích gia tăng liên quan đến nội dung TCVN.
Mọi chi tiết xin liên hệ:
ĐT: (028) 3930 3279 DĐ: 0906 22 99 66
- The Stock Exchange of Vietnam must have the
capital charter of VND 3,000 billion received from the charter capital of the
Stock Exchange of Hanoi and the Stock Exchange of Ho Chi Minh city.
- During the period of its operation, the Stock
Exchange of Vietnam shall increase or decrease the charter capital under the
Prime Minister’s Decision.
c) Functions and tasks
- The Stock Exchange of Vietnam shall have the
following main functions and tasks:
+ Prepare development investment strategies, plans,
five-year business plans and annual business plans for submission to competent
authorities to seek their approval according to regulations in force.
+ Promulgate regulations on securities listing,
securities trading, information disclosure, trading members and other
professional regulations relating to the organization and operation of the
securities market after receipt of the consent from the State Securities
Commission (SSC).
+ Supervise the Stock Exchange of Ho Chi Minh City
and the Stock Exchange of Hanoi implementing the operational regulations; carry
out the general supervision of the securities market in accordance with law.
+ Provide guidelines for developing information technology
systems and guidelines for developing new technologies and new products to
perform the task of giving directions for the uniform implementation.
+ Support the market development through the
provision of infrastructure services, training, propaganda and knowledge
dissemination and provision of other services in accordance with the law.
...
...
...
Bạn phải
đăng nhập hoặc
đăng ký Thành Viên
TVPL Pro để sử dụng được đầy đủ các tiện ích gia tăng liên quan đến nội dung TCVN.
Mọi chi tiết xin liên hệ:
ĐT: (028) 3930 3279 DĐ: 0906 22 99 66
+ Promote international cooperation regarding
securities and securities markets, and act as a focal point for participation
in international organizations with respect to securities market.
+ Carry out the management of subsidiaries of the
Stock Exchange of Vietnam under law and the statutes of the Stock Exchange of
Vietnam.
+ Perform other tasks under laws and regulations of
competent authorities.
- The Stock Exchange of Hanoi and the Stock
Exchange of Ho Chi Minh city shall have the following functions and tasks:
+ Carry out the tasks of listing, registration of
transactions, securities trades, securities auctioning and stock bidding under
law.
+ Carry out the supervision of compliance with
legislative regulations on securities and stock markets of trading members,
listed organizations and investors participating in securities trades at Stock
Exchanges under law.
+ Develop new products within the scope of the
market where traded securities are managed.
+ Support the market development through the
provision of infrastructure services, training, propaganda and knowledge
dissemination activities.
+ Perform other tasks under laws and regulations of
competent authorities.
...
...
...
Bạn phải
đăng nhập hoặc
đăng ký Thành Viên
TVPL Pro để sử dụng được đầy đủ các tiện ích gia tăng liên quan đến nội dung TCVN.
Mọi chi tiết xin liên hệ:
ĐT: (028) 3930 3279 DĐ: 0906 22 99 66
The Ministry of Finance shall decide on the
machinery of the Stock Exchange of Vietnam; the Stock Exchange of Vietnam shall
decide on the machinery of the Stock Exchange of Hanoi and the Stock Exchange
of Ho Chi Minh city after receipt of approval from the Ministry of Finance.
dd) Financial and pay policies
- Financial policies:
+ The Stock Exchange of Vietnam shall apply the
financial policies of wholly state-owned single-member limited liability
companies under the Law on Management and Use of State Capital invested in
business and production activities of enterprises; the Government’s Decree No.
91/2015/ND-CP dated October 13, 2015 on investment of state capital in
enterprises, management and use of capital and property at enterprises; the
Government's Decree No. 87/2015/ND-CP dated October 6, 2015 on supervision of
investment of state capital in enterprises; financial supervision, performance
assessment and disclosure of financial information of state enterprises and
state-invested enterprises; the Government’s Decree No. 122/2017/ND-CP dated
November 13, 2017 prescribing certain particular contents regarding the
policies on financial management and performance assessment of lottery
businesses; Stock Exchanges and Vietnam Securities Depository, documents
providing instructions, amendments and supplements (if any) and other relevant
legislative regulations.
+ The Stock Exchange of Hanoi and the Stock
Exchange of Ho Chi Minh city shall apply regulations on the financial
management adopted by the Stock Exchange of Vietnam under the financial
policies for state enterprises and under the provisions of the Law on Enterprises;
the Law on Management and Use of State Capital invested in business and
production activities of enterprises; the Government’s Decree No. 91/2015/ND-CP
dated October 13, 2015 on investment of state capital in enterprises,
management and use of capital and property at enterprises; the Government's
Decree No. 87/2015/ND-CP dated October 6, 2015 on supervision of investment of
state capital in enterprises; financial supervision, performance assessment and
disclosure of financial information of state enterprises and state-invested
enterprises; the Government’s Decree No. 122/2017/ND-CP dated November 13, 2017
prescribing certain particular contents regarding the policies on financial
management and performance assessment of lottery businesses; Stock Exchanges
and Vietnam Securities Depository, documents providing instructions, amendments
and supplements (if any) and other relevant legislative regulations.
- Pay policies:
+ The Stock Exchange of Vietnam shall apply the pay
policies for state enterprises and decide on the pay grades of managers in
accordance with regulations in force.
+ Based on the pay policies of wholly state-owned
single-member limited liability companies established and operated under the
provisions of the Law on Securities, the Stock Exchange of Vietnam shall
undertake the management of personnel, salaries, wages and bonuses paid to
employees and managers of the Stock Exchange of Hanoi and the Stock Exchange of
Ho Chi Minh city.
4. Implementation roadmap
...
...
...
Bạn phải
đăng nhập hoặc
đăng ký Thành Viên
TVPL Pro để sử dụng được đầy đủ các tiện ích gia tăng liên quan đến nội dung TCVN.
Mọi chi tiết xin liên hệ:
ĐT: (028) 3930 3279 DĐ: 0906 22 99 66
a) Phase 1 (2019 – 2020):
- Establishing the Stock Exchange of Vietnam, ensuring
the continuing and normal operations of active stock markets at the Stock
Exchange of Ho Chi Minh city and the Stock Exchange of Hanoi.
- Uniformly setting up the machinery of the Stock
Exchange of Vietnam, restructuring the machinery of the Stock Exchange of Hanoi
and the Stock Exchange of Ho Chi Minh city.
- Developing the perfect project for construction
of stock market information technology systems of which the owner is currently
the Stock Exchange of Ho Chi Minh city in order to upgrade and modernize the
information technology for the entire stock market.
b) Phase 2 (2020 – 2023):
- Bringing the stock market information technology
system into operation at the Stock Exchange of Hanoi and the Stock Exchange of
Ho Chi Minh city, based on which the roadmap for segmentation of stock market
zones shall be implemented.
- Formulating plans for equitization of stock
exchanges in order for them to be implemented after 2023.
Article 2. Implementation responsibilities
1. The Ministry of Finance shall assume the
following responsibilities:
...
...
...
Bạn phải
đăng nhập hoặc
đăng ký Thành Viên
TVPL Pro để sử dụng được đầy đủ các tiện ích gia tăng liên quan đến nội dung TCVN.
Mọi chi tiết xin liên hệ:
ĐT: (028) 3930 3279 DĐ: 0906 22 99 66
b) Draft and promulgate the Charter of organization
and operation of the Stock Exchange of Vietnam.
c) Decide on the machinery and managers of the
Stock Exchange of Vietnam, the Stock Exchange of Hanoi and the Stock Exchange
of Ho Chi Minh city under the provisions of the Law on Securities, the Law on
Enterprises, and the Law on Management and Use of state capital invested in
production and business activities at enterprises.
d) Direct the State Securities Commission to assess
and give the Stock Exchange of Vietnam consent to issuing regulations on
specialized operations, manage and supervise operations of Stock Exchanges
under the provisions of the Law on Securities.
dd) Direct the Stock Exchange of Vietnam to issue
the Charter of organization and operation of the Stock Exchange of Hanoi and
the Stock Exchange of Ho Chi Minh city.
e) Direct the Stock Exchange of Vietnam to develop
plans for equitization of stock exchanges and submit them to the Prime Minister
to seek his approval before implementation after 2023.
2. The Ministry of Labor, War Invalids and Social
Affairs shall assume the following responsibilities: Cooperate with the
Ministry of Finance in providing instructions about the pay, bonus and
allowance policies for managers of enterprises and employees of the Stock
Exchange of Vietnam and its subsidiaries according to those policies applied to
state enterprises to ensure that these policies must be relevant to operations
of stock exchanges.
3. People's Committee of Hanoi and People’s
Committee of Ho Chi Minh city shall be responsible for cooperating with the Ministry
of Finance in carrying out the state management of the Stock Exchange of
Vietnam, the Stock Exchange of Hanoi and the Stock Exchange of Ho Chi Minh city
within their jurisdiction as per law.
Article 3. This Decision shall enter into
force from the signature date.
Article 4. Ministers, Heads of
Ministry-level agencies, Heads of Governmental bodies, Chairpersons of People’s
Committees of centrally-affiliated cities and provinces, and Heads of other
entities concerned, shall be responsible for implementing this Decision./.
...
...
...
Bạn phải
đăng nhập hoặc
đăng ký Thành Viên
TVPL Pro để sử dụng được đầy đủ các tiện ích gia tăng liên quan đến nội dung TCVN.
Mọi chi tiết xin liên hệ:
ĐT: (028) 3930 3279 DĐ: 0906 22 99 66
PRIME MINISTER
Nguyen Xuan Phuc