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PM urges stock market to grow faster
06/08/2010 - 148 Lượt xem
The securities market was set to play a crucial role in the national market-driven economy, said PM Khai at the Hanoi Securities Trading Center (HSTC) kicking off its first transaction session of the year.
Vietnam’s stock market posted a $2.51 billion turnover in 2005, mostly from trading in government and local bonds, according to a report by the State Securities Commission.
The target turnover of $16 billion would represent 10-15 percent of the country’s planned gross domestic product (GDP), Khai said.
Khai later made another visit to the Bank for Investment and Development of Viet Nam (BIDV) where he called on local banks to mobilize at least $120 billion for development investment by 2010.
Banks should reserve loans for small and medium-sized businesses to promote their growth, he also said.
The HSTC, launched in March last year, have organized initial public offerings for 70 equitized enterprises from the State-owned sector to collect VND5 trillion ($313.9 million).
Since late last year, over-the-counter HNSTC saw 72 trading sessions for stocks and bonds totaling VND347 billion ($21.77 million) in value.
The country’s other bourse is the Ho Chi Minh City Security Trading Center, which was inaugurated in July 2000.
Source: Thanhnien, 7/2/2006
