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Stock market seen as good source of capital
Vietnam’s stock market is an effective channel of capital for the country’s economy, with its capitalised value accounting for 40 percent of GDP, a State Securities Commission (SSC) official has reported.
At a meeting between the SCC, the Hanoi Securities Trading Centre (HaSTC)’s and NA officials on June 26, SSC Chairman Vu Bang said last year saw the stock market boom with its scale expanding many times compared with six years ago.
Some 127 trillion VND (7.9 billion USD) was pumped into the stock market in 2007 and combined with OTC the figure was estimated at nearly 200 trillion VND (12.5 billion USD).
Up to now, the stock market has more than 430,000 accounts, including 2,000 organisation accounts.
According to Bang, shares have plummeted to bottom-level prices but for long-term development the shares on Vietnamese bourses have become attractive compared with those listed on regional stock markets.
Also on the meeting’s agenda was the stock market’s impacts on macro economy, equitisation process and economic structure.
National Assembly Vice Chairman Nguyen Duc Kien urged the securities managers to propose useful solutions to ensure the market’s smooth operation.
VNA
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