Capital market crucial for socio-economic development: Deputy PM
The capital market has an important role to the country’s socio-economic development as it connects indirect investment flow through the securities market, said Deputy Prime Minister Truong Hoa Binh.
Deputy Prime Minister Truong Hoa Binh said capital market has an important role to the country’s socio-economic development. (Photo: VNA)
HCM City (VNA) – The capital market has an important role to thecountry’s socio-economic development as it connects indirect investment flowthrough the securities market, said Deputy Prime Minister Truong Hoa Binh.
He made the statement at the “Gateway to Vietnam 2017” conference held by theSai Gon Securities Incorporation (SSI) in Ho Chi Minh City on October 25.
As an open economy, Vietnam is encouraging various growth models based onadvantages of young labourers, and socio-political and macro-economic stability,he noted, adding that investors should grasp investment opportunities in thecountry.
He stressed that improved legal regulations are creating favourable conditionsfor enterprises to run in the long term and Vietnam achieved an average growthof 6.5 percent in the past years.
The country also paid due attention to fine-tuning the finance-monetary system,and consistently promoting the privatisation in state-owned enterprises, heunderlined.
The country regarded developing the private economic sector as an importantdriving force to spur economic growth, Binh added.
For his part, SSI Chairman and General Director Nguyen Duy Hung said that“Gateway to Vietnam 2017”, the fourth edition, features a wide range of assetsand products in the capital market.
With the attendance of Vietnamese leading enterprises and nearly 200 domesticand foreign investment funds, the event is expected to connect Vietnamese firmswith potential investors, he added.
After 17 years of operation, the Vietnamese stock market has been known as the youngestwith the most modest scale. It has, however, recorded the strongest growth inboth scale and liquidity in ASEAN and Southeast Asia.
Stock market capitalisation in 2006 made up 22 percent of the national GDP andthe figure rose to over 63 percent so far this year.
The country is currently home to 700 listed companies, including 23 firmsvalued at over 1 billion USD and most of them have reported sound businessresults in 2017.-VNA
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The analysis from an investment perspective shows that the economy’s growth has been heavily capital‑driven, yet efficiency remains low as reflected by Vietnam’s Incremental Capital-Output Ratio (ICOR) being significantly higher than global and regional averages. This underscores the imperative to enhance capital‑use efficiency.
Deputy Prime Minister Truong Hoa Binh said capital market has an important role to the country’s socio-economic development. (Photo: VNA) 
