Vietnam’s stock market capitalisation tops $52 billion
The capitalisation of Vietnam’s stock market has amounted to some $52 billion, equal to about 32 per cent of the national GDP, a senior state official said at a recent ceremony organised in Ho Chi Minh City.
The stock market is expected to become a major capital mobilisation channel of the economy by 2020, Minister of Finance Dinh Tien Dung said at the ceremony held on July 26 to mark the 14th anniversary of the establishment of the Vietnamese stock market.
The market is among the 10 best-performing markets in the world, Dung added. Meanwhile, the size of the local bond market is about 17 per cent of the country’s GDP, he said.
In the first six months of this year, there were more and more positive signals from the market as the average transaction value increased by 58 per cent over the same period last year, he said.
The finance minister also emphasised the need for further efforts from market participants so that the market will become a major capital mobilisation channel for the economy in the next six years.
This is not a simple task in the complex context of immediate and long-term prospects of the local economy, Dung stressed.
On the occasion, Vu Bang, chairman of the State Securities Commission (SSC), said one of the most outstanding marks of the Vietnamese stock market’s development over the past 14 years is its increasing transparency which has enabled more local firms to meet international standards in doing business and publishing their financial status regularly.
“The publishing of the financial statements of enterprises has become increasingly more professional. Especially, in the last two years, many businesses have paid more attention to building sustainable value chains besides their normal business activities,” Bang added.
At the ceremony, 50 listed companies with the best annual reports were honoured, with Vietnam Dairy Products Joint Stock Co (Vinamilk) winning the first prize in the category.
The stock exchanges of Hanoi and Ho Chi Minh City have hosted about 1.3 million accounts of foreign investors with total portfolio values reaching $13 billion, Dung said.
Recently, the SSC clinched deals on collaboration with securities and exchange commissions of 20 European countries to open the door for funds from the region participating in the market.
The capitalisation of Vietnam’s stock market has amounted to some $52 billion, equal to about 32 per cent of the national GDP, a senior state official said at a recent ceremony organised in Ho Chi Minh City. The stock market is expected to become a major capital mobilisation channel of the economy by 2020, Minister of Finance Dinh Tien Dung said at the ceremony held on July 26 to mark the 14th anniversary of the establishment of the Vietnamese stock market. The market is among the 10 best-performing markets in the world, Dung added. Meanwhile, the size of the local...
The capitalisation of Vietnam’s stock market has amounted to some $52 billion, equal to about 32 per cent of the national GDP, a senior state official said at a recent ceremony organised in Ho Chi Minh City.
The stock market is expected to become a major capital mobilisation channel of the economy by 2020, Minister of Finance Dinh Tien Dung said at the ceremony held on July 26 to mark the 14th anniversary of the establishment of the Vietnamese stock market.
The market is among the 10 best-performing markets in the world, Dung added. Meanwhile, the size of the local bond market is about 17 per cent of the country’s GDP, he said.
In the first six months of this year, there were more and more positive signals from the market as the average transaction value increased by 58 per cent over the same period last year, he said.
The finance minister also emphasised the need for further efforts from market participants so that the market will become a major capital mobilisation channel for the economy in the next six years.
This is not a simple task in the complex context of immediate and long-term prospects of the local economy, Dung stressed.
On the occasion, Vu Bang, chairman of the State Securities Commission (SSC), said one of the most outstanding marks of the Vietnamese stock market’s development over the past 14 years is its increasing transparency which has enabled more local firms to meet international standards in doing business and publishing their financial status regularly.
“The publishing of the financial statements of enterprises has become increasingly more professional. Especially, in the last two years, many businesses have paid more attention to building sustainable value chains besides their normal business activities,” Bang added.
At the ceremony, 50 listed companies with the best annual reports were honoured, with Vietnam Dairy Products Joint Stock Co (Vinamilk) winning the first prize in the category.
The stock exchanges of Hanoi and Ho Chi Minh City have hosted about 1.3 million accounts of foreign investors with total portfolio values reaching $13 billion, Dung said.
Recently, the SSC clinched deals on collaboration with securities and exchange commissions of 20 European countries to open the door for funds from the region participating in the market.
