Market capitalization to GDP at 40 percent: Finance ministry

10:20 | 02/11/2016 Finance - Banking

The market capitalization to GDP ratio in Vietnam as of October 19 was 40 percent, Deputy Finance Minister Vu Thi Mai reported at the most recent regular Cabinet press conference.

Market capitalization to GDP at 40 percent: Finance ministry

Deputy Finance Minister Vu Thi Mai (Photo: vneconomy.vn)

According to the deputy minister, total market capitalization amounted to 1,687 billion VND (over 75.9 billion USD), up 24 percent from the value at the end of 2015.

The VN-Index of the southern bourse stood at 688.9 points at the end of trading on October 19, up 19 percent from the level at the end of 2015, while the HNX-Index of the Hanoi Stock Exchange went up 7 percent from the end of 2015 to 85.5 points.

The average trading value for one transaction in October was 8.5 trillion VND (382.5 million VND), an increase of 4 percent from last month’s value.

Deputy Minister Mai said the legal framework should be further refined and market management and monitoring capacity will be enhanced to boost the development of the capital market.

She added that efforts will be make to supply more quality commodities for the market through improving accounting and financial report standards along with promoting the publishing of information in accordance with international standards.

In particular, the State Securities Commission is preparing infrastructure and IT technology for the derivatives market to begin operation in 2017.

According to the Deputy Minister, the ministry is reforming the evaluation method for State-owned enterprises, and the equitization of SOEs will be combined with listing on the stock market in a bid to accelerate the restructuring of the economy./.

 

Source: VNA

Theo ven.vn