Foreigners are still eyeing the
Vietnamese stock market as a promising destination for their financial
investments, according to analysts at the Asia
Trade and Investors Convention 2008 (ATIC@2008), which occurred late last week.



Director of Ban Viet Securities To
Hai estimated that around US$600mil of indirect investment capital has been put
into the local stock market early this year.



This was less than that of the same
period last year, but proving that foreigners have responded positively on the
local exchange.



Around $10bil was put into the local
exchange during the 2006-07 period through closed 5-10 year funds in Vietnam.
"This amount is certain to be in the stock market in the long term,"
Hai said to Tuoi Tre Newspaper (Youth).



Executive director of VinaCapital
Group Andy Ho said that traders from the US,
Japan
and EU countries had expressed strong interest in the Vietnamese market during discussions
with him.



He said Vietnam held promise for foreign
investment due to its plentiful natural resources, young labour and favourable
location for trade.



"Your country will develop even
further in the next three to five years. Of course, you also have to cope with
temporary difficulties like what you are facing now," Ho said.



The analysts attending the
exhibition also said that the Vietnamese stock exchange would improve in the
next six to nine months, and investors should start reinvesting.



"The next six to nine months
will also be the time during which Government actions to curb inflation take
effect," executive director of HCM City Securities Corporation Flachra Mac
Cana said.



He said that when investors grew
tired of trading, it was a good time to buy. "This has been concluded by
the experiences of many securities investors worldwide," he said.



Director of Malaysia-based SJ
Securities Sdn Bhd Peter Lim said that what Vietnamese investors were
experiencing now was also what happened with Malaysians.



"Investors must remain calm if
they want to know when is the good time to buy in or sell off," he noted.



"The Government must now focus
the most on stabilising prices and recovering investors’ faith," analysts
said, suggesting that the Government should be consistent in their actions.



"The actions must be
transparent enough to avoid mis-understanding among investors," they added.