Legal Framework for Investor Protection Fund in the Stock Market - Experiences from Northeast Asian Countries and Lessons for Vietnam

The article analyzes the necessity of establishing a Securities Investor Protection Fund (SIPF) in Vietnam, drawing lessons from Northeast Asian countries such as Japan, South Korea, China, and Taiwan. The research addresses why it is essential to establish a SIPF in Vietnam and how experiences from these Northeast Asian countries can be applied to improve investor protection in Vietnam. Using a comparative analysis method, the article examines the legal regulations, operational mechanisms, and effectiveness of investor protection funds (IPFs) in Northeast Asian countries, proposing specific and feasible solutions for Vietnam. The research findings indicate that while the stock market plays a crucial role in economic development, it is vulnerable to financial risks, as evidenced by the 2008 financial crisis. The article suggests that Vietnam should establish a SIPF with transparent and strict management mechanisms, similar to those in Northeast Asian countries, to protect investor rights and enhance confidence in the stock market. Such reforms will help build an effective IPF system, promote sustainable development of the stock market, and create a safe and reliable investment environment.