Vu Bang - Chairman of the SSC delivering his speech at the conference (Photo: VNA)Hanoi (VNA) - Despite themany fluctuations of the world stock market, the domestic market has maintainedpositive growth rates, said Vu Bang, Chairman of the State SecuritiesCommission of Vietnam (SSC).
He remarked that increases in listings, mobilisation, transactionsand investment on the stock exchange had had great impacts on the overallgrowth of the country’s securities market.
National indexes experienced growth of 30 percent in 2016. TheVN-Index on the HCM Stock Exchange experienced growth of 15 percent, theHNX-Index on the Hanoi Stock Exchange increased by 0.8 percent, with the totalamount of market equitisation reaching 1.76 quadrillion VND (79.67 billion USD),equal to 42 percent of total GDP in 2016.
At present, there have been 695 listed stocks and fundcertificates, and 377 registered stocks with total listed value reaching 712trillion VND (32.1 billion USD), up by 22 percent, together with 590 bonds at atotal listed value of 934 trillion VND (42.1 billion USD), up by 22.5 percent.
Liquidity also improved greatly, while the average level oftransactions reached 6.8 trillion VND (309.6 million USD) per session, up 39percent compared to the end of 2015.
Asset management companies had also increased theircharter capital by 17.7 percent compared to the end of 2015.
Simultaneously, governmental control over joint stock companieshad also improved the market’s quality greatly, as well as their financial andrisk management ability.
Bang, on behalf of the SSC, announced the conclusive results fromthe stock market in 2016 and the SSC’s plan for 2017, at the SSC’s year endconference held in Hanoi last week.
The Ministry of Finance and the Government highly regarded theSSC’s efforts in building legal documents and policies, its active role inmobilising capital and funding for the reconstruction and development of thestock market, as well as its overall monitoring and inspection of the market toensure a transparent and streamlined process for investors and stockholdersalike, said Deputy Finance Minister Tran Xuan Ha at the conference.
Ha also encouraged the SSC to focus on improving the Law onSecurities, reengineering the stock market to maintain the market’s regularactivities. The SSC should also prepare to bring the derivative market intooperation, and tighten the regulatory procedure on listed companies in 2017.
The SSC had also continued to improve external activities andinternational co-operation in 2016, by initiating bilateral co-operation withthe US, Japan, Germany, Republic of Korea, Singapore, Laos and Cambodia, aswell as successfully collaborated with the World Bank on managerial activitiesover securities and capital markets.
Bang and Ha expressed great optimism for Vietnam’s securitiesmarket in 2017, and committed to continue collaborating with otheradministrative authorities to maintain market stability and development in theyear to come. — VNA
