Vietnam's Stock Market Attractive in 2010
Vietnam’s stock market remains one of the most attractive investment options and there are no bubbles in medium and long term, shared experts at Vietnam’s capital and finance markets conference early this week.
Vietnam’s stock market is a roller-coaster one which saw the pick at 1,173 in early 2007 and bottom at 235 two year later in February 2009, said experts.
Andy Ho, director of VinaCapital fund management company said there is no need to worry about stock market bubble in the coming time as investors have learned from the boom period of 2006-2007.
He believed the market will be more attractive with more better stocks the government will offer as it said it will speed up selling shares in big state-owned corporations.
Many Vietnam companies have very good fundamentals with average price to earnings ratio, Ho said adding that VinaCapital has invested in some 10 businesses in Vietnam with significant higher investment value.
Nguyen Xuan Minh, chairman and general director of Vietnam Asset Management Limited (VAM) said the stock market has bottomed out and his fund has drawn interests from many investors and some have made negotiation to cash in Vietnamese shares.
Louis Nguyen, chairman of Saigon Asset Management (SAM) said that SAM is raising a new fund to invest in private equities and the state ones which are planning to go public.
Deputy Chairman of the State Securities Committee (SSC) Nguyen Doan Hung said Vietnam will apply new policies to attract more foreign investment.
Vietnam’s stock market now has the capitalization of US$38 billion, accounting for 40 % of GDP. (Securities Investment)
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