Many businesses will list on the market
According to Nguyen Minh Giang, Head of Asset Management Department, Mirae Asset Securities Joint Stock Company, Resolution No. 68-NQ/TU has had a positive impact on investor sentiment. In the stock market, investors have confidence, which has led to a strong increase in the market.
That is the short-term impact, and in the medium and long term, when Resolution No. 68-NQ/TU comes into effect, with many important policy groups such as facilitating the private economy to access resources of land, capital, high-quality human resources, etc.; in particular, not criminalizing civil and economic relations will help businessmen dare to think, dare to do, boldly invest capital in business, thereby increasing capacity, competitiveness, and operational efficiency, which means that the market capitalization value of enterprises will increase accordingly.
In addition, Resolution No. 68-NQ/TU will stimulate foreign capital to return to the Vietnamese stock market. Open mechanisms for private enterprises and an improved investment and business environment will attract domestic and foreign investment capital. Foreign investment funds not only cooperate with private enterprises to implement projects but also choose to invest in the company's stocks.
Sharing the same view, Director of Analysis of Individual Clients (Yuanta Viet Securities Company) Nguyen The Minh shared that Resolution No. 68-NQ/TU is modern because in developed countries, private enterprises are the main driving force for economic growth. With this resolution, when the private sector is promoted to develop, the number of enterprises listed on the stock market will increase, products on the market will be more diverse and abundant, and investors will have many quality investment options, helping to increase liquidity as well as the attractiveness of the market, expanding the market scale.
According to Mr. Nguyen The Minh, the biggest limitation in the current stock market is the monotony of goods and the lack of large-cap commodities. The large-cap group is currently mainly the banking and real estate sectors; meanwhile, the real estate group is cyclical, so the stock market is also affected by the cyclical nature of this group. In addition, the investor structure is strongly tilted towards domestic individuals, while individual investors prefer "surfing", making the market easily affected by psychology and short-term fluctuations...
Some other experts believe that promoting the private economy means building a strong private enterprise model. To grow, enterprises must be listed on the stock market because there are many sources of capital for enterprises to use.
Opportunities for capital markets
Regarding the prospects and potential of stocks of large enterprises on the stock exchange, Director of Institutional Clients (VNDirect Securities Corporation) Cao Thi Ngoc Quynh said that Resolution No. 68-NQ/TU clearly states the expansion of private enterprises' participation in important national projects. The State proactively has policies on ordering, limited bidding or designated bidding, and has preferential policies to encourage the private economic sector to participate with the State in strategic areas, key projects and scientific research tasks.
Therefore, businesses in sectors such as energy, construction materials, infrastructure and technology will benefit and have breakthroughs when enjoying preferential development policies, as well as participating in major national projects such as the North-South high-speed railway project, urban railway, renewable energy projects and digital transformation projects...
Experts also recognize that the development of the private economic sector not only contributes to economic growth but also creates momentum for the domestic capital market. From there, the stock market will further develop as an effective capital mobilization channel for businesses.
According to Mr. Nguyen The Minh, Resolution No. 68-NQ/TU not only promotes the capitalization value of listed enterprises, but also encourages unlisted enterprises, or enterprises with small and medium capitalization to consider this market as the optimal place to mobilize capital. Up to now, enterprises have relied heavily on capital mobilization channels from the banking system, putting considerable pressure on the banking system. Resolution No. 68-NQ/TU not only promotes the capitalization value of listed enterprises, but also motivates and encourages enterprises to mobilize capital on the stock market instead of depending on the banking system.
Mr. Nguyen Minh Giang also expressed his opinion that with the open mechanism of Resolution No. 68-NQ/TU, the number of newly established enterprises as well as enterprises expanding production and business in the coming time will certainly increase sharply. Accordingly, the capital sources of credit institutions cannot meet the demand and must find other sources in the stock market.
Source: https://hanoimoi.vn/phat-trien-kinh-te-tu-nhan-dong-luc-lon-cho-thi-truong-chung-khoan-704074.html
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