Vietnam Targets Stock Market Capitalization of 70% GDP in 2015: SSC

Vietnam targets to raise its stock market capitalization to 65%-70% of its GDP in 2015 and to 90%-100% of the GDP in 2020, state media reported, citing the State Securities Commission (SSC).

 

This is part of strategies to develop the local securities market during 2010-2020 period as discussed at the conference held by the SSC in Hanoi on Nov. 18.

 

Nguyen Son, head of the SSC’s Stock Market Development Department, said the main target is to increase the operational quality of the two exchanges and the number of listed companies, especially large-scale ones.

 

Enhancing the efficiency of the market management and supervision is also a need to protect benefits of investors during the period of integrating into the international financial market, Son noted.

 

Dr. Vu Dinh Anh, deputy head of the Market and Price Research Institute under the Ministry of Finance, said the market regulators should reduce the number of securities firms to 50 from nearly 110 currently, with an average market share of US$3 billion each, by boosting merge and acquisitions.