In Vietnam, what are the regulations on macroeconomic stabilization and raising of resources for socio-economic development in 2022?
1. In Vietnam, what are the regulations on macroeconomic stabilization and raising of resources for socio-economic development in 2022?
Under Subsection 1, Section III of Resolution 86/ND-CP of 2022, regulations on macroeconomic stabilization in Vietnam are as follows:
1. Macroeconomic Stabilization
a) Persistently implement solutions to stabilize the macroeconomy, control inflation, effectively implement the Economic Recovery and Development Program, stabilize the investment environment, and ensure consistency and stability in policies to reassure investors to participate in activities and invest in the capital market.
b) Closely monitor reality, proactively and flexibly manage, and closely coordinate fiscal policy, monetary policy, and other macro policies to maintain macroeconomic stability, ensure major economic balances, and create conditions for a stable, fast, safe, effective, and sustainable development of the stock and corporate bond markets.
2. In Vietnam, what is maintaining the improvement of the legal framework for macroeconomic stabilization and raising of resources for socio-economic development in 2022 about?
According to Subsection 2, Section III of Resolution 86/ND-CP of 2022, maintaining the improvement of the legal framework and reviewing and amending regulations on securities, currency, banking, accounting, auditing, and valuation in Vietnam are specified as follows:
2. Maintaining the improvement of the legal framework and reviewing and amending regulations on securities, currency, banking, accounting, auditing, and valuation in the following directions:
a) Further enhance the transparency and publicity of participants in the market;
b) Improve the quality of the stock market, promote public offerings of bonds coupled with listing to enhance the transparency of the market; promote the establishment and development of credit rating services, and create a specialized bond market;
c) Create conditions and remove difficulties to develop a system of organized investors such as various types of investment funds and voluntary pension funds;
d) Increase penalties to enhance deterrence against violations;
dd) Continue to address existing issues related to cross-ownership, accelerate the restructuring process of credit institutions associated with handling bad debts;
e) Approach international practices appropriate to Vietnam's conditions concerning standards on accounting, auditing, and asset valuation; apply international financial reporting standards (IFRS) to contribute to enhancing transparency and improving the effectiveness of information provision for investors; develop a system of Vietnamese Valuation Standards suitable to practical conditions and international practices.
Respectfully!
