Vietnam's stock market ranks first and second in ASEAN in terms of liquidity.

Speaking at the opening ceremony of the investment promotion conference “My Vietnam - Your Investment Destination” on August 6, Minister of Finance Ho Duc Phoc said that over 50 years of establishing diplomatic relations, including more than 10 years of strategic partnership, Vietnam - Singapore is an important and special bilateral relationship.

Economic , trade and investment cooperation is growing rapidly. Therefore, the two countries will still have much room for development, especially in the fields of financial markets, capital markets and securities.

“As of July 2024, there are a total of more than 1,600 stocks and fund certificates listed and registered for trading on the market; the stock market capitalization reaches about 278 billion USD, equivalent to 65% of GDP in 2023. The number of investors has grown strongly with 8 million securities accounts, equivalent to more than 10% of the adult population.

Minister Ho Duc Phoc said that Vietnam and Singapore still have a lot of room for cooperation in the fields of financial markets, capital markets, and securities. (Photo: ST)

In the ASEAN region, the Vietnamese stock market is a very dynamic market with liquidity of up to about 1 billion USD/day, ranking first and second in the region in terms of liquidity. An interesting thing is that the liquidity of the Vietnamese and Singaporean stock markets is similar," said Mr. Phoc.

The Minister of Finance emphasized that the Vietnamese Government always considers the foreign-invested economic sector an important part of the economy. It always creates favorable conditions for long-term development, cooperation and healthy and equal competition.

In particular, the Vietnamese Ministry of Finance commits to accompany and create favorable opportunities for partners, businesses and investors to seek investment and cooperation opportunities to achieve the highest efficiency. The Ministry welcomes businesses and investors from Singapore in particular and the region in general to increase new investments and expand the scale of investment in Vietnam.

Also at the conference, the State Securities Commission (SSC) provided information to Singaporean investors on the overview of the current situation of the Vietnamese stock market, prospects, and goals and policies for market development in the coming time.

Representatives from securities companies, fund management companies, and large listed companies on the Vietnamese stock market shared about the growth potential of the Vietnamese stock market. At the same time, they shared about the preparations of securities companies, custodian banks, and cooperation opportunities in the context of upgrading the Vietnamese stock market.

Commenting on the work of upgrading the stock market, Chairwoman of the State Securities Commission Vu Thi Chan Phuong said that upgrading the Vietnamese stock market from a frontier market to an emerging market is one of the major goals that the Vietnamese Government is aiming for. Recently, the Ministry of Finance and the State Securities Commission have carried out many activities and exchanged information with relevant parties to implement solutions to meet the criteria for upgrading the Vietnamese stock market.

Currently, the Ministry of Finance has drafted a circular amending and supplementing 4 circulars on transactions, registration, depository and clearing, securities company operations and information disclosure. In order to make the application of the circular feasible and most effective after its promulgation, the Ministry of Finance has widely consulted to complete the final draft and publish it on the Ministry of Finance and State Securities Commission's portal before promulgation.

“According to the assessment of domestic and foreign experts, the new solutions and regulations in the draft circular are appropriate and highly feasible. The circular will be issued by the Ministry of Finance soon,” Ms. Phuong emphasized.

Source: https://www.congluan.vn/thi-truong-chung-khoan-viet-nam-dung-nhat-nhi-asean-ve-thanh-khoan-post306573.html