Vietnamese securities industry leaders visit Singapore to call for investment

Many Singaporean investors learn about the Vietnamese stock market - Photo: SSC

The investment promotion conference "My Vietnam - Your investment destination" took place this morning, August 6, in Singapore.

Call for investment in Vietnamese securities

Minister of Finance Ho Duc Phoc said that over 50 years of establishing diplomatic relations, including more than 10 years of the Vietnam - Singapore Strategic Partnership, the bilateral relationship has been important and special, with remarkable and effective progress in many fields. Cooperation in economics, trade and especially investment has grown rapidly.

According to the minister, Vietnam and Singapore still have a lot of room for development, especially in the fields of financial markets, capital markets, and securities.

Therefore, the Ministry of Finance cooperated with partners to organize this conference with the hope of providing more investment opportunities, creating a substantive dialogue channel to help businesses and investors better understand the policies, orientations and potentials of the Vietnamese economy in general and financial markets in particular.

Over the past 24 years of operation, the Vietnamese stock market has proven its attractiveness through the number of commodities on the floor, high liquidity and strong participation of domestic and foreign investors.

Committed to accompanying and creating favorable opportunities for investors

Leaders of the Ministry of Finance, the State Securities Commission and many related units call for investment in Vietnam - Photo: SSC

"Despite initial successes, Vietnam is determined to continue developing a public, transparent, safe, effective, comprehensive, integrated and sustainable stock market, ensuring the legitimate rights and interests of participating entities," the minister emphasized.

At the same time, we commit to accompany and create favorable opportunities for partners, businesses and investors to seek investment and cooperation opportunities to bring the highest efficiency.

At the conference, the State Securities Commission provided information to Singaporean investors on the overview of the current situation of the Vietnamese stock market, prospects and development goals and policies in the coming time. Representatives of securities companies, fund management companies, and large listed enterprises in Vietnam also shared about the potential, preparation, and cooperation opportunities... From there, many investors were interested.

On the occasion, Ms. Vu Thi Chan Phuong - Chairwoman of the State Securities Commission - said that upgrading the Vietnamese stock market from a frontier market to an emerging market is one of the major goals the Vietnamese Government is aiming for.

The amount of money "changing hands" on the stock exchanges in Vietnam and Singapore is similar.

As of July 2024, there are more than 1,600 stocks and fund certificates listed and registered for trading on the Vietnamese stock market. The stock market capitalization reached 278 billion USD, equivalent to 65% of GDP in 2023.

The number of investors has grown strongly with 8 million securities accounts, more than 10% of the adult population.

In the ASEAN region, Vietnamese stocks are very dynamic with liquidity of up to about 1 billion USD/day, ranking first and second in the region. Liquidity of the Vietnamese and Singapore stock markets is similar.

Source: https://tuoitre.vn/lanh-dao-nganh-chung-khoan-viet-toi-singapore-moi-goi-dau-tu-20240806132820015.htm