The Prime Minister has approved the project on establishing the Vietnam Stock Exchange under the parent-subsidiary business model on the basis of rearranging the Hanoi Stock Exchange and Ho Chi Minh City Stock Exchange. The Ho Chi Minh City Stock Exchange The Vietnam Stock Exchange will be established by 2020 and operate under the model of a 100% Stated-owned enterprise. The Vietnam Stock Exchange will have a charter capital of VND3 trillion(US$129 million),which will be transferred from the charter capital of the two Stock Exchanges of Hanoi and Ho Chi Minh City. In the first two years after the establishment of the Vietnam Stock Exchange, the Hanoi and Ho Chi Minh City Stock Exchanges will continue to maintain their operations. It is scheduled that the Vietnam Stock Exchange will be equitised after 2023. The establishment of the Vietnam Stock Exchange aims to unify the securities trading market and ensure the effective, open and transparent operation of the stock market, as well as upgrading the market. The Vietnam Stock Exchange is also expected to strengthen the State management and State ownership in enterprises, thus ensuring the transparency and safety of the securities market.