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VCBS expects 15% stock market growth
The stock market of Viet Nam will be the most profitable investment channel this year, with a growth rate of 15 per cent, according to Vietcombank Securities (VCBS).
With macro-economic stability, the stock market would be a more attractive investment channel compared to other channels, such as gold, real estate and bank savings, VCBS director Vu Quang Dong told Dau Tu Chung Khoan (Securities Investment).
VCBS expects the economy to grow at a faster rate than 2013 and the GDP to rise to 5.6-5.7 per cent, while the inflation rate will be about 5.5-5.6 per cent as the government and the State Bank of Viet Nam have been consistent with their policies to stabilise the economy and curb inflation.
In addition, VCBS forecast that the interest rate will be kept stable at 7-8.5 per cent for the mobilising rate and 7-10.5 per cent for the lending rate in the short term and 11-13 per cent in the long term.
Stocks of export companies in sectors that include garments and textiles, footwear, electronic components and software products as well as infrastructure construction companies (building materials and logistics) will be in the spotlight in the stock market this year.
This will be due to expectations of an improvement in capital inflow, together with the economic recovery and the government's effort to boost infrastructure during the year.
VCBS also added that foreign capital will flow strongly into the stock market this year, and the first quarter will witness strong buying of blue chip funds.
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