Vietnam’s securities market fares well

[kieudiemvje]

Vietnam ’s securities market has developed strongly despite the global crisis, said Deputy Prime Minister Nguyen Sinh Hung.
At a ceremony to mark the 10 th anniversary of the market’s operation on July 18, the Government leader attributed that development partly to the separation between the market’s management function and organisation and operation functions.
Thanks to the securities market, the country had also built financial and monetary markets and the market had created another channel for long-term capital for enterprises, he said.
Hung said in the coming period transparency must be increased and the quality of products on the market must be improved to ensure the interest of investors.
It was reported at the celebration that since its inception on July 10, 2000, the stock market saw a 25 fold rise in the value of each transaction, from 55 billion VND to 1.3 trillion VND per session on average.
The listed companies jumped from two to 550, with their capital amounting to 700 trillion VND, which accounted for 40 percent of the country’s GDP.
In the recent five years, capital mobilised via the stock market reached 300 trillion VND, or 20 percent of the national GDP.
Over the decade, the market witnessed a surprising soar in the number of stock companies, from seven to 105, and also in the number of investment funds, from the only one to 46 at present.
The number of investors’ accounts skyrocketed from 3,000 in the year 2000 to 950,000, including 12,000 registered by foreign investors, who have so far injected a total of nearly 7 billion USD into securities in Vietnam.