Vietnam's stock market has attracted 13 billion USD from foreign investors, both individual and institutional, according to an official.
Minister of Finance Dinh Tien Dung, speaking at the ceremony celebrating the 14th anniversary of the HCM Stock Exchange (HOSE) on July 26, the first securities exchange in Vietnam, noted that the large foreign investment was a positive development, reflecting the increasing growth in the stock market.
Beginning operations in late July 2000, the exchange had only two listed companies and no participation from foreign investors.
Indeed, in 2003, foreign investors' daily trading value stood at 41 million VND (2,000 USD), while this figure has since risen to 250.6 billion VND (10.2 million USD).
Currently, 700 companies are listed at HOSE and the exchange in Hanoi. Also, almost 150 companies have registered to trade on the UPCom.
"The market capitalization of all listed shares is 52 billion USD, around 32 percent of the GDP, and bonds are 17 percent," said the minister. He added that the share trading value in the first six months went up 58 percent, compared to the same period last year.
Currently, HOSE represents some 70 percent of the total market trading value.
"As the first stock exchange in the country, HOSE has been increasingly improving itself in terms of trading and supervision systems, information releases, product development and upgrading its infrastructure and operation management," said Vu Bang, Chairman of the State Securities Commission.
HOSE also inaugurated its new building, the Exchange Tower, the same day. This new HOSE headquarters is located in a grade A modern building, offering more than 26,000 sq.m. of office space to enable the development of its Data Centre.
Together with the older building, HOSE now occupies more than 32,000 sq.m. During the ceremony, 50 listed firms from almost 700 entries from the Annual Report Awards 2014 were honoured with best annual reports, including 38 from HOSE and 12 from HNX. Vinamilk, Bao Viet Holdings, DHG Pharma and Sai Gon Securities Inc. were among the top honourees.
Meanwhile, first prize for the Sustainability Reporting Awards went to Bao Viet Holding, and second prize to Vinamilk. Three consolation prizes were granted to DHG Pharma, Sacombank and Imexpharm.
HOSE, in coordination with Dau Tu Chung Khoan (Securities Investment), a publication of Vietnam Investment Review and Hanoi Stock Exchange, have organised this annual contest since 2008.