Stock market, a good channel for capital mobilization
At the Ho Chi Minh City Stock Exchange (HOSE)’s first trading session of the New Year, Secretary of the municipal Party Committee Dinh La Thang said with last year’s results and acceleration of state-owned enterprise equitization, the city’s stock market will have momentum to grow this year.
Mr Thang pledged “to help businesses become stronger and more efficient. We’ll help businesses and the Stock Exchange grow because their success is Ho Chi Minh City’s success.”
Economists say the stock market continues to be an effective channel for mobilizing resources for the economy. Ministries and sectors have stepped up national economic reform and state-owned enterprises equitization.
Last year large-cap stocks pushed the market up, with seven of the 10 highest-valued stocks gaining, including Vinamilk, BIDV, Vietcombank, Vietinbank, and insurer Bao Viet Holdings.
In January, the Vn-Index surpassed 697 points, up 5% since late 2016. It was VN-Index’s highest mark in 9 years.
Economist Tran Hoang Ngan said, “This year, Vietnam’s stock market will have more commodities. Market capitalization will amount to about 50% or 60% of the national gross domestic product.”
Vice General Director of the Ho Chi Minh City Stock Exchange Le Hai Tra recommends raising Vietnam’s stock market ranking to attract foreign investment.
He said, “We have to increase the number of big companies on the bourse and the rank of Vietnam’s stock market. It will help draw foreign investment to Vietnam.”
According to Vu Bang, Chairman of the State Securities Commission (SSC), there will be more opportunities for HOSE to grow stronger in 2017 as the government continues to remove difficulties for enterprises.
“We’ll continue to reform the structure of Vietnam’s stock market and bourses in HN and Ho Chi Minh City to make them more dynamic,” said Bang.
Equitization of state-owned enterprises will increase commodities for the stock market and create a new investment wave for HOSE in particular. In addition, flexible monetary policies in 2017 and steady interest rates will create more growth opportunities for the stock market.
Related News
Warn about the fraudulent tricks of stock investment
16:30 | 07/05/2024 Finance
Effective inspection and supervision - a key factor for a transparent stock market
11:41 | 06/04/2024 Finance
Many positive signals from stock market upgrade
10:06 | 08/04/2024 Finance
Vietnamese stocks on FTSE Russell waiting list for upgrading
10:41 | 04/04/2024 Finance
Latest News
Improve processes and enhance experience to rebuild trust in life insurance
20:25 | 17/05/2024 Finance
PM chairs meeting on fiscal, monetary policy management
20:20 | 17/05/2024 Finance
Many tax management solutions for e-commerce
10:01 | 16/05/2024 Finance
Completely resolve problems and accelerate public investment disbursement
14:41 | 15/05/2024 Finance
More News
Tax, land rent payment deadlines to be extended this year
14:21 | 15/05/2024 Finance
Tax compliance management in the digital economy
11:32 | 15/05/2024 Finance
Hai Phong: Budget revenue reached more than VND40,000 billion
13:57 | 14/05/2024 Finance
Price adjustment should be in implemented in appropriate time to control inflation
13:56 | 14/05/2024 Finance
Fiscal policy is expanded and flexible to promote economic growth 2024
13:28 | 13/05/2024 Finance
Closely follow the situation, research and propose many solutions about taxes and fees to support the economy
08:16 | 12/05/2024 Finance
Prevent corruption and group interests in developing financial laws
10:07 | 11/05/2024 Finance
"Creativity in revenue collection to achieve set goals in difficult contexts"
14:55 | 10/05/2024 Finance
Strive to effectively implement Global Minimum Tax in Vietnam
10:22 | 10/05/2024 Finance
Your care
Improve processes and enhance experience to rebuild trust in life insurance
20:25 | 17/05/2024 Finance
PM chairs meeting on fiscal, monetary policy management
20:20 | 17/05/2024 Finance
Many tax management solutions for e-commerce
10:01 | 16/05/2024 Finance
Completely resolve problems and accelerate public investment disbursement
14:41 | 15/05/2024 Finance
Tax, land rent payment deadlines to be extended this year
14:21 | 15/05/2024 Finance