Market Value of Vietnam Listed Firms to Rise in 2010: Dragon Capital

The market capitalization of Vietnamese listed companies will be higher in 2010, which will help increase the scale of the local market, said Managing Director of Dragon Capital Dominic Scriven.

 

The growth will be supported by economic recovery and better performance of local enterprises.

 

Dragon Capital forecast Vietnam’s GDP growth of 6.9% in 2010, compared to the government’s target of 6.5%, while some institutions expect a growth of up to 8%, Scriven said in an interview with the Stocknews.

 

The economy will go to growth this year after a strong recovery since the third quarter of 2009.

 

However, the fund manager said investors should keep close eyes on two elements to make right decisions: the first is monetary policies which are predicted to greatly affect trader sentiment in 2010; the second is credit growth, trade deficit and payment balance that is challenging Vietnam in the post-crisis period.

 

Currently, Dragon Capital is holding total assets of US$1.5 billion and will continue raising fund from long-term investors in 2010 and coming years. Long-term investment will be helpful for the market’s sustainable development. (Stocknews)