Foreign investors pour $13 billion into VN markets
Foreign investors pour $13 billion into VN markets
Viet Nam's stock market has attracted US$13 billion from foreign investors, both individual and institutional, according to an official.
Minister of Finance Dinh Tien Dung, speaking at last Saturday's ceremony celebrating the 14th anniversary of the HCM Stock Exchange (HOSE), the first securities exchange in Viet Nam, noted that the large foreign investment was a positive development, reflecting the increasing growth in the stock market.
Beginning operations in late July 2000, the exchange had only two listed companies and no participation from foreign investors.
Indeed, in 2003, foreign investors' daily trading value stood at VND41 million ($2,000), while this figure has since risen to VND250.6 billion ($10.2 million).
Currently, 700 companies are listed at HOSE and the exchange in Ha Noi. Also, almost 150 companies have registered to trade on the UPCom.
"The market capitalization of all listed shares is $52 billion, around 32 per cent of the GDP, and bonds are 17 per cent," said the minister. He added that the share trading value in the first six months went up 58 per cent, compared to the same period last year.
Currently, HOSE represents some 70 per cent of the total market trading value.
"As the first stock exchange in the country, HOSE has been increasingly improving itself in terms of trading and supervision systems, information releases, product development and upgrading its infrastructure and operation management," said Vu Bang, Chairman of the State Securities Commission.
HOSE also inaugurated its new building, the Exchange Tower, the same day. This new HOSE headquarters is located in a grade A modern building, offering more than 26,000 sq.m. of office space to enable the development of its Data Center.
Together with the older building, HOSE now occupies more than 32,000 sq.m.During the ceremony, 50 listed firms from almost 700 entries from the Annual Report Awards 2014 were honoured with best annual reports, including 38 from HOSE and 12 from HNX. Vinamilk, Bao Viet Holdings, DHG Pharma and Sai Gon Securities Inc. were among the top honourees.
Meanwhile, first prize for the Sustainability Reporting Awards went to Bao Viet Holding, and second prize to Vinamilk. Three consolation prizes were granted to DHG Pharma, Sacombank and Imexpharm.
HOSE, in coordination with Dau Tu Chung Khoan (Securities Investment), a publication of Viet Nam Investment Review and Ha Noi Stock Exchange, have organised this annual contest since 2008.
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