Ministry cuts, exempts fees of 15 securities services to support stock market
The Ministry of Finance has cut the fees of nine securities services and exempted fees for six others as from March 19 as part of efforts to support the stock market amid the negative impact of the COVID-19 epidemic.
Hanoi (VNA) – The Ministry of Finance has cut the fees of nine securities services and exemptedfees for six others as from March 19 as part of efforts to support the stockmarket amid the negative impact of the COVID-19 epidemic.
Under Circular 14/2020/TT-BTC issued on March 18, nine services havetheir fees reduced by 10 to 50 percent, and four others see their fees slashedby 30 to 50 percent.
The Finance Ministry said the cut and exemption will be applied from nowto August 31. The Finance Minister will consider whether to extend theregulation depending on the development of the epidemic.
The move is essential in the current context, which isalso in line with the Prime Minister’s Directive 11/CT-TTg issued on March 4 onsome urgent tasks and solutions to tackle difficulties facing production andbusiness activities and ensure social security amidst the COVID-19 pandemic.
The Vietnamese stock market has been in downfall since the COVID-19 outbreak.
On the Ho Chi Minh StockExchange, the VN-Index has tumbled 24.8 percent over the last six weeks to hitits lowest level since June 2017.
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The Vietnamese stock market had a tough time throughout February with most stocks weakening amid concern about the global spread of the coronavirus disease(COVID-19).
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Illustrative image (Photo: VNA) 
