VietNamNet Bridge - In the past three months, the Vietnam stock market grew 11.58%, far exceeding the 7.81% growth rate of the Mongolian stock market, the 5.96% rate of China and the 4.72% rate of Greece. This was the highest rate in the world, according to Indexq.org.



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In the past month, Vietnam's stock market also achieved impressive growth rate of 6.99%, compared to 5.39% of Denmark, 4.92% of the Czech Republic, 2.47% of Hungary or 2,06% of New Zealand.

According to many experts, Vietnam’s decision to increase the percentage of foreign ownership to a maximum of 100%, except some special fields, is the factor that caused the high growth of the stock market in recent times.

Domestic investors have purchased more shares in the expectation that the foreign capital inflows would pour into the market after the decision takes effect this September.

In an interview in the Wall Street Journal, Louis Nguyen, CEO of Saigon Asset Management, said that Vietnam's stock market would make a breakthrough if the regulations on widening foreign ownership are adopted. This will also open the way for billions of US dollars of foreign investment in Vietnam.

Besides, the fall of China's stock market is also an opportunity for the stock market of Vietnam to become an attractive destination for international investors.

Speaking to CNBC, famous investor Marc Faber said he would not "touch" Chinese shares. Instead, he recommends investors to pour money into the Vietnam stock market, shares of casino companies listed on the Hong Kong Stock Exchange and gold mining firms.

According to Faber, Vietnam is a "prominent" country in Asia with good developments in the economy and reasonable stock prices. Vietnam is in a position similar to that of China one year ago when the stock prices increased over a long time.

Mr. Kevin Snowball - CEO of PXP Asset Management in Ho Chi Minh City - said that foreign investors recognized that the Vietnam stock market is now cheap and the economy is in the best condition. He said that the change of regulations on the percentage of ownership for foreign investors would help the market boom in the near future.

Hai Ha