Capital market’s role in economic restructuring highlighted

(VOV) -The greater role the capital market needs to play in allocating economic resources and the concurrent equitization of state-owned enterprises (SOEs)was the subject matter of a seminar in Binh Dinh province on April 18.

The event, sponsored by the Party Central Committee's Economic Commission in coordination with the HCM City Stock Exchange (HOSE) and the Bank for Investment and Development of Vietnam (BIDV), attracted leading economists and financial analysts from across the nation.

Discussion was focused on the roles the capital market and commercial banks play in the economic restructuring process and a number of proposals aimed at strengthening it.

Attendees discussed the impact and the intricacies of the stock market along with the need for improving corporate governance and transparency in fostering a healthy financial market in the nation.

Addressing the seminar, Head of the Central Economic Commission, Vuong Dinh Hue, outlined the key tasks of Vietnam, saying that it is essential to combine the economic restructuring process with the paradigm shift toward effective growth and competitiveness in the period of 2013-2020.

“In such a process, the role of the capital market and its impact on the SOEs’ restructuring and the commercial banking system is an indispensable part,” he said.

Hue noted that the seminar provided an opportunity to exchange practical experiences and solutions from all stakeholders.

It not only facilitated governmental agencies and policy makers obtaining a multi-dimensional perspective, but also provided the capital market participants a more accurate perspective from which to base decisions, he concluded.

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