Hanoi (VNA) – How to developa safe, transparent, effective, and sustainable capital market to ensuremacro-economic stability is the focus of a conference held under the chair of PrimeMinister Pham Minh Chinh on April 22.

Vietnam’s capital market has recordedfast growth in recent years, expanding by 28.5 percent annually on averageduring 2016 - 2021. It was equivalent to 134.5 percent of GDP last year, rising3.5-fold from 2015. In particular, the stock market was equivalent to 93.8percent of GDP while the bond market 39.7 percent, according to a report deliveredat the meeting.

However, the rapid growth of the stockand bond markets has also posed latent risks, it noted, pointing out some casesof market manipulation, bond mobilisation for wrong purposes, and lawinfringement.

Addressing the meeting, PM Chinhunderlined the Government’s viewpoint that wrongdoings must be strictly handledso as to make the market transparent and protect investors and businesses.

The Government stays persistent inthe target of stabilising the macro-economy, controlling inflation, andeffectively implementing the socio-economic recovery and development programme,he affirmed.

Highlighting the main tasks toachieve that target, he said at first, relevant ministries, sectors, andagencies have to keep the investment climate stable, especially the consistencyof policies.

The PM also ordered a legal corridor bebuilt to protecting investors in the stock and bond markets, measures taken forensuring balanced development of the capital and monetary markets, and thestock market developed healthily and sustainably to facilitate the mobilisationof medium- and long-term capital.

Hestressed the Party and State’s consistent policy of not criminalising economicrelations and issuing support policies to encourage enterprises to comply withlaws and operate effectively and transparently, thus contributing to nationaldevelopment./.