Foreigners Signs up 12,886 Stock Accounts in Vietnam

The Securities Depository Center had granted securities trading codes to 12,886 foreign investors, including 953 institutions and 11,933 individuals in the first four months this year, the state-run Securities Investment newspaper reported Wednesday.

 

In April, 16 overseas institutions and five individuals were allowed to trade securities in the local stock exchange, the newspaper said.

 

Among 16 institutional investors from U.S., Japan, Hong Kong and others, five U.S. institutions activated their securities accounts in Vietnam.

 

In the recent conference on portfolio investment in Vietnam, foreign fund managers all agreed that the country’s stock market now become attractive and they will increasing the investment in Vietnamese equities in the coming months.

 

Vietnam could achieve the GDP growth of 4.5 per cent this year, better than most Asian economies despite the global downturn, the Asia Development Bank said. Meanwhile, Prime Minister Nguyen Tan Dung affirmed that Vietnam’s economy will expand between 5 per cent and 5.5 per cent this year.

 

Vietnam’s key stock indicator, VN-Index, witnessed a rise of 21.3 per cent since early April, after investors started hunting attractive shares. (Securities Investment)