Vietnam is expected to mobilize about VND125 trillion (US$7.8 billion) from state bonds and stakes equitization process via the stock market, which has witnessed booming growth, in a bid to maintain its high GDP growth rate of 8.5 per cent this year, a senior official of State Securities Commission said on January 23.
SSC chairman Vu Bang made the prediction at a conference on Vietnam’s Finance and Investment Market 2007 in Hanoi.
The Government of Vietnam will pay due and special attention to the quality and efficiency of the securities market, which overheated recently with many new records.
Vietnam is developing with long steps, looking forward to forming an open and effective financial market, Bang said.
Vietnam’s capital market and stock exchange have, over recent years, progressed considerably, becoming long-term capital mobilization channels for the economy, Finance Minister Vu Van Ninh told the conference.
However, Ninh added that as the stock exchange bears various risks it is necessary to take appropriate and effective measures to adjust it, making it a transparent, efficient and safe market.
This year will see a rapid growth of sectors including energy, banking, telecommunications and aviation, which are to be open to foreign investments.
Representatives from about 400 businesses, financial institutions, and domestic and foreign investment funds assessed Vietnam’s capital market and shared experiences in creating a healthy capital market, after Viet Nam entered the World Trade Organization.
They also discussed measures to attract investment capital through reforming the economy, financial system, and banks and non-bank financial institutions, in addition to issues related to the securities market, and policies encouraging indirect investment and international investment funds.
Today the conference will focus on discussing investment channels. (Youth, VNA)
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