Vietnam Stock Exchange (VNX) makes debut on December 11. (Photo: VNA)

Speaking at the launching ceremony, Deputy Prime Minister Le Minh Khai said that developing the stock market to create a medium- and long-term capital mobilization channel for economic development is a big and consistent policy of the Party and State.

Over the past 25 years, the Vietnamese stock market has grown more and more firmly, and made active contributions to the nation’s socio-economic development and is really becoming an important capital mobilization channel for the economy, and helped promote the development of the financial market.

On the stock market, the VN Index has surpassed 1,500 points, making it the highest mark since the stock market officially came into operation. The average trading value in the first 11 months of 2021 reached more than VND37.2 trillion per session, over two times higher than that of 2020. As of the end of October, total stock capitalization and outstanding bond balance in the market had reached nearly 163 percent of GDP in 2020.

The growth of the stock market in recent years partially shows the confidence of investors and businesses in the policies of the Party and State, Khai said, adding that this is also the result of the timely direction of the Government and the Prime Minister; the close coordination between ministries, sectors and localities; the direct instruction of the Ministry of Finance; and especially the solidarity, consensus, high determination and persistent efforts of the financial sector’s staffs, the State Securities Commission, the Stock Exchanges, the Securities Depository Centre, and domestic and foreign investors.

The Deputy PM stressed the importance of restructuring and reorganizing the Hanoi and Ho Chi Minh Stock Exchanges to unify the securities trading market, ensure the market's efficient, fair, open and transparent operation towards a unified and professional Vietnamese stock market.

Source: VNA

Stock market continues to grow, trading around 1,700 - 1,760 points next year

Despite uncertainty over coronavirus variants, the Vietnamese stock market is expected to inch higher next year and hit 1,700 - 1,760 points.