PM Khai Urges Stock Market to Grow Fast

Prime Minister Phan Van Khai on February 6 urged management of the Vietnamese stock market to boost trade up to US$16 billion or more by 2010, hitting an annual growth rate of 150%.

Prime Minister Phan Van Khai beats the gong to kick off the first transaction session

Mr. Khai made the request during his visit to the Ha Noi Securities Trading Center. At the center, he beat a gong to kick off the center’s first transaction session of the lunar year.
The Prime Minister noted that the securities market, though still being new in Viet Nam, has played an important role in the market-oriented economy. He also noted that the stock market is a sensitive field in the economy.

After opening the first transaction session, Mr. Khai went to visit the Bank for Investment and Development of Viet Nam (BIDV) in Ha Noi.

The Government leader said that BIDV and other banks should make all-out efforts to provide loans for business development of enterprises. The Government expects that at least US$120 billion would be invested in the economy from 2006 to 2010, and banks in general need to play an effective role in this investment, according to Mr. Khai.

Ngoc Quang, translated by Tuong Thuy

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