Vietnam's Stock Market Expects Drastic Growth This Year
Vietnam's stock market is forecast to receive an influx of newcomers with strong financial portfolio in 2007 after the Government issued a series of policies in support of the financial and monetary markets.
Bui Nguyen Hoa, head of the HCM City Branch of the State Securities Commission (SSC), said at a Workshop on Development and Integration of the Vietnam Securities Market, that the Government has always prioritized policies to promote reforms and develop relevant markets.
These policies are aimed to attract businesses from all economic sectors, ensure effective management and support sustainable development, he said.
SSC also plans to work with relevant agencies to build a legal system towards an open market in line with Vietnam’s commitments to the World Trade Organization.
SSC will take measures to ensure careful but flexible enforcement of financial management policies to create a stable socio-political environment in favor of investment and economic development, Hoa said.
As of the end of 2006, 193 companies had listed shares on the Ho Chi Minh and Hanoi securities trading centers. The listed shares are valued at US$14 billion, accounting for 22.7 per cent of the GDP.
In addition, 400 kinds of bonds worth over VND70 trillion are listed on the exchange market floor. (VNA)
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