One of the major issues stipulated in the amended Securities Law which takes effect on July 1, 2020 is the establishment of the Vietnam Stock Exchange. The National Assembly on November 26 ratified the amended Securities Law, in which the functions and tasks of the Hanoi and HCM City Stock Exchanges have been redefined. The merging of the two stock exchanges, Hanoi and HCMC, cannot be implemented at this moment. The two exchanges need to operate separately for the time being and upgrade their capability. The Vietnam Stock Exchange, once established, will be a 100 percent state-owned limited company. In the current conditions of the market, this mode is necessary. Kim Chi Funds seek profits after stock market officially upgrades Some active funds are pouring money into the Vietnam’s stock market in anticipation of the market upgrading and are planning to withdraw the money to make a profit when the upgrading is announced. Foreign investors sell more than buy in Vietnamese stock market The Vietnamese stock market is very promising in the eyes of foreign investors. However, the barriers in liquidity and transaction fees have discouraged them.
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