Vietnam Aims ASEAN Top 100 Stocks

Vietnam is looking to have firms listed among the top 100 leading companies in the Asian Southeast region in the next five years.

This is part of a plan to develop the Vietnamese stock market in 2006-2010 period, just issued by the Ministry of Finance.

The country will standardize criteria for issue shares, listing, information announcement, transaction connection, and listing in other ASEAN securities markets, the ministry said.

The ambition will also help Vietnam reach the target of raising total transaction value in the market to 10-15 per cent of the national gross domestic product (GDP), according to the plan.

 

At present, Vietnam has listed the shares of 35 corporate companies on the stock exchange. Vinamilk, which is expected to list on the Singaporean bourse, is the biggest listed firm with registered capital of VND1.59 trillion (US$100 million).

 

Meanwhile, Vietnam is speeding up the privatization of a number of state-owned and large-capitalization banks, including Vietcombank and BIDV, and plans to list them on both domestic and international stock markets.