Vietnam stocks may climb as economic growth recovers: finance minister

Vietnamese stocks may rise from the end of the current quarter as economic growth recovers and boosts corporate earnings, Finance Minister Vuong Dinh Hue said.

“Companies’ performance should improve by that time, bolstered by a domestic macroeconomic recovery,” Hue said in an interview on Saturday after a conference in Ho Chi Minh City.

Vietnam needs to spur investor confidence by improving the transparency of corporate earnings, particularly among state-owned enterprises, he also said.

A finance ministry proposal that state companies publish audited results is awaiting approval from the prime minister, Hue said.

Vietnam’s economy expanded less than 5 percent for the second straight quarter in the three months through June from a year earlier.

Deputy Prime Minister Vu Van Ninh has said the nation may miss its 6 percent growth target this year.

The VN Index of stocks has declined about 14.6 percent since a recent high in May.

Bloomberg

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