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Wednesday, July 17, 2024

PM orders prevention of malpractices in securities, real estate

By Hoang Thang

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HCMC – Prime Minister Pham Minh Chinh has called for stronger efforts to fight against corruption and malpractices in the bond, securities and real estate fields.

The prime minister was speaking at a regular Government meeting on April 4.

Deputy Prime Minister Le Minh Khai had earlier asked the Minister of Finance and the chairman of the State Securities Commission of Vietnam to closely monitor cash flows into the stock market to promptly cope with potential risks. These units were told to proactively publicize information and adopt suitable solutions to stabilize investor sentiment and protect the interests of investors.

The deputy prime minister also urged the relevant agencies to quickly remove bottlenecks in the securities sector such as the trading system and information disclosure.

The directives by the Government leaders came after Trinh Van Quyet, former FLC chairman, was arrested on stock market manipulation allegations.

At the meeting, the prime minister also assigned the ministers and heads of agencies to speed up the disbursement of public investment capital and official development assistance loans as the disbursement in the first quarter of 2022 remained slow.

According to the prime minister, obstacles to policies, mechanisms and procedures facing public investment projects should be removed rapidly.

Speaking of the nation’s socio-economic performance in March and the first quarter of the year, the prime minister said that the military conflict in Ukraine had taken a toll on the global and local economies. He added that the country had brought the pandemic under control, with Covid deaths plunging in March.

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