Illustrative image (Source: VNA) Speaking at the event, Prime MinisterNguyen Xuan Phuc hailed the SSC as a channel to raise mid and long-term capitalfor the economy, equitisation and restructure of State-owned enterprises overthe past 20 years.
He asked the SSC to continuefine-tuning management mechanisms, ensuring openness, transparency, fairnessand efficiency, contributing to economic restructuring, renewal of growth model,and global integration.
Finance Minister Dinh Tien Dung saidthe ministry will continue directing the securities sector to refine policiesin line with market mechanisms and international practices while improving theState management on the securities market.
SSC Chairman Vu Bang, for his part,said more than 2 quadrillion VND (90 billion USD) has been raised since 2011via the securities market, 1.4 quadrillion VND (63.6 billion USD) of them are viastocks, a 4.75-fold increase from 2005-2010, contributing to 23 percent of thetotal social investment.
Meanwhile, the bond market grows 31percent annually – the highest among emerging economies in East Asia andASEAN 3. In 2010-2015, more than 795.8 trillion VND (36.17 billion USD) wasmobilised for the State budget.
As of November 2016, the stock marketcapitalisation hit 1.79 quadrillion VND (81.36 billion USD), or nearly 43percent of the gross domestic product (GDP). Overall, the securities marketvalue accounted for 65 percent of the GDP.
According to the SSC, the total numberof securities accounts has soared from 3,000 in 2000 to more than 1.67 million,18,500 of them are owned by foreign investors./.
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