Prime Minister Nguyen Xuan Phuc has approved a project to restructure the stock market until 2020 with a vision to 2025, with an aim to make it an important channel for middle- and long-term capital regulation.

The project’s objectives include building a reasonable and balanced structure of the monetary and capital markets, and between the stock market and Government bond market, as well as the Government bond and business bond markets.

Positive support will be given to the restructuring of State-owned enterprises, the economic growth model, the development of the private sector, and the strengthening of opening and integration with the regional and world markets.

Alongside, the project also targets a stock market scale equivalent to 100 percent of the GDP in 2020 and 120 percent in 2025, and that of bond market reaching 47 percent of the GDP in 2020 and 55 percent in 2025.

The number of listed firms is expected to rise 20 percent in 2020 compared to that in 2017, while that of investors is hoped to reach 3 percent of the population in 2020 and 5 percent in 2025.

The project aims to ensure a proper percentage between individual and institutional investors, and between domestic and foreign ones, while promoting the growth of the number of professional investors in the stock market.

Under the project, stock market products will be diversified, with the introduction of covered warrants, bond futures and future contracts on new codes outside the VN30 group before 2020.

The project also gives eight solutions to stock market restructuring, including completing the legal foundation, restructuring the investors in the stock market, as well as enhancing the role of trade organizations.-VNA