Prime Minister Lê Minh Hưng: Developing a comprehensive reform plan for Vietnam's financial market

On the morning of April 29, 2026, Prime Minister Lê Minh Hưng presided over a meeting with the Ministry of Finance on the status of tasks carried out in the early months of 2026, the directions and key priorities for the near term, and the proposals and recommendations. The meeting focused on assessing results, shortcomings, and causes; it analyzed in detail the growth drivers and bottlenecks of the economy, the capacity to mobilize and efficiently use resources, and the implementation of tasks to ensure the government's target of two-digit growth, as specified in Conclusion 18-KL/TW of the Second Central Committee's meeting. In his closing remarks, on behalf of the Government, Prime Minister Lê Minh Hưng acknowledged, praised, and valued the efforts and important results achieved by the Ministry of Finance, particularly after reorganizing the structure and apparatus with a large workload. The Prime Minister also noted that global and regional conditions are volatile and unpredictable, with negative, rapid, direct impacts on macroeconomic management, fiscal policy, and achieving the two-digit growth target. Yet the greater the difficulties, the more determined and unified we must be to achieve the set goals, including the two-digit growth target. The Prime Minister stressed the need to mobilize State resources and social resources, both domestic and international, for socio-economic development (total capital expected to be about 1.7-2 times the previous term; while state budget capital accounts for about 20-22%). This would be done through developing the stock market, capital, and privatizing state-owned enterprises, ensuring discipline and order so the stock market operates openly and transparently, and boosting investor and public confidence; ensuring discipline and governance, prudent use of funds, increasing efficiency of budget expenditure, public investment, and liquidation of public assets, especially land assets owned by the state in Hanoi and Ho Chi Minh City; developing the economic components: state-owned enterprises, private enterprises, attracting FDI; strengthening tax administration, curbing revenue leakage, growing revenue bases, expanding the tax base; accelerating digital transformation, applying data in management and governance, advancing digital transformation, improving databases, restructuring processes; and improving development institutions. The Prime Minister instructed that in the near term, the ministry should strive for higher determination, more decisive action, and effective implementation of the Resolutions, Conclusions, and directives of the Party, National Assembly, and Government, and require the Ministry of Finance to implement nine core tasks and measures. Among these, the Prime Minister called for strong measures to develop the stock market into a truly important medium- and long-term capital mobilization channel for the economy; urged urgent amendment and completion of the Decree on corporate bonds; refine related regulations and monitoring to promote the development of an International Financial Center; restructure the operation of the State Investment Corporation and the State Capital Investment and Business Company, moving toward the establishment of a National Investment Fund (to be completed in Q2 2026); refine plans to accelerate the reorganization and privatization of state-owned enterprises to ensure efficiency, avoid losses and waste (to be completed in May 2026); propose measures to continue attracting foreign investors; build a Comprehensive Reform Plan for Vietnam's financial market aligned with sustained growth through 2045, to be reported to the competent authorities in Q2 2026. To continue improving the investment and business environment, the Prime Minister requires strict timely implementation of directives on reducing administrative procedures, business conditions, execution time, and compliance costs in general, as well as procedures and sectors under the Ministry's management. Prompt preparation of a decision on criteria for classifying state-owned enterprises and state capital in enterprises, to be issued by the Prime Minister by May 15, 2026. Coordinate with and direct corporations to meet business targets and accelerate progress on key projects. Proactively develop the Government's action program implementing the Politburo's Resolution on foreign-invested economy, to be reported to the competent authorities promptly after the Politburo's resolution is issued. An Thái