He also underlined that increases in listings, mobilization, transactions and investment on the stock exchange had have had pro-found impacts on the overall growth of the country’s stock market.
National indexes increased by 30 percent in 2016. The VN-Index on the Ho Chi Minh City Stock Exchange experienced growth of 15 percent while the HNX-Index on the Hanoi Stock Exchange saw a growth of 0.8 percent. The total amount of market equalization reaching 1.76 quadrillion VND (79.67 billion USD), equal to 42 percent of total GDP in 2016, Mr.Vu Bang highlighted.
There have been 695 listed stocks and fund certificates, and 377 registered stocks on the country’s stock market with total listed value reaching 712 trillion VND (32.1 billion USD), up by 22 percent, together with 590 bonds at a total listed value of 934 trillion VND (42.1 billion USD), up by 22.5 percent.
Asset management companies had also increased their charter capital by 17.7 percent compared with the end of 2015.
The liquidity of the Vietnam’s stock market improved significantly while the average level of transactions reached 6.8 trillion VND (309.6 million USD) per session, up 39 percent compared with the end of 2015. The governmental control over joint stock companies had also improved the market’s quality greatly, as well as their financial and risk management ability.
Deputy Finance Minister Tran Xuan Ha said that the Ministry of Finance and the Government highly regarded the SSC’s efforts in making legal documents and policies, mobilizing capital and funding for the reconstruction and development of the stock market as well as its overall monitoring and inspection of the market to ensure a transparent and streamlined process for investors and stockholders alike.
In 2015, the SSC had continued to improve external activities and international co-operation by initiating bilateral co-operation with the US, Japan, Germany, Republic of Korea, Singapore, Laos and Cambodia, as well as successfully collaborated with the World Bank on managerial activities over securities and capital markets.
The Deputy Minister also encouraged the SSC to focus on improving the Law on Securities, reengineering the stock market to maintain the market’s regular activities. The SSC should also prepare to bring the derivative market into operation, and tighten the regulatory procedure on listed companies in 2017.
Mr.Tran Xuan Ha and Mr.Vu Bang expressed great optimism for Vietnam’s securities market in 2017, and committed to continue collaborating with other administrative authorities to maintain market stability and development in the year to come.