Market cap accounts for 72 percent of GDP in 2018

SGGP
Stock market capitalization reached VND3,900 trillion (US$167.75 billion) by December 28 last year, up 12.7 percent compared to the end of 2017, or 72 percent of gross domestic product, according to the Ministry of Finance.

Market cap accounts for 72 percent of GDP in 2018

The figure has exceeded the target set for securities development strategy to 2020. Vietnam stock market has become an important capital mobilization channel for the economy.

Last year, the Ministry has presented a proposal to merge two stock trading floors ad focused on completing the proposal to restructure the stock and insurance markets in the period of 2018 to 2020 and heading to 2025.

The ministry has also carried out solutions to develop market, diversify investors, attract foreign investors and enhance inspection to timely deal with violations. In the context that stock market saw fluctuations, operation of Vietnam stock market generally remained stable.
This year, the ministry will focus on developing derivatives market, corporate bond and new products.

By Phan Le – Translated by Thuy Doan

Other news