Some experts said that the stock market in 2007 was less successful than the previous year. Do you agree with the opinion

No, I don’t. In fact, the stock market has been developing well over the last year. By December 28, 2007, the market had had 138 share items, three fund certificates and 17 bond items (32 share items and one fund certificate were listed in 2007). There had been 200,000 transaction accounts by the end of 2006, and the number had increased to 300,000 by the end of 2007, increasing by nearly 50%.

Regarding the VN Index, it did not slide in 2007 as people thought. The VN Index was 741.27 points in the first trading session of the year, and it was 927.02 points in the last trading session of the year, December 28, 2007, which meant the increase of 25% over the last one year. The 25% increase of VN Index should be seen as a good sign, which shows the stable growth rate of the market, not the worrying overly hot market.

If we compare the stock market value with GDP, then the figure would be 40% of GDP in 2007, far exceeding the 25-30% levels set by the Prime Minister. It is expected that the market capitalization value in 2008 would account for 50-60% of GDP.

What role has the HOSE been playing in the development of Vietnam’s stock market?

Among the newly emerging stock markets in the world, Vietnam is considered one of the ‘hottest’ markets. “Growth” and “development” are the two words which have been used by foreign experts when talking about Vietnam’s stock market.

HOSE, as the regulator of the market, has been playing a very important role in the development.

Let’s talk about the technical facilities at HOSE. Why were there so many technical troubles in 2007?

Troubles in transactions are unavoidable. Singapore, one of the most outstanding markets in the world, saw 14 problems last year.

However, we well understand that we need to try our best to reduce the troubles, and we will make heavy investment in technical facilities, not only in 2008, but in the following years

Could you please tell me about the cooperation between HOSE and foreign stock exchanges?

Recently, we have signed the memorandum of understanding with big stock exchanges in the world, including NYSE, Tokyo, London, Hong Kong, ROK, Thailand, Singapore and Malaysia. The MOUs included the provisions on technical cooperation as well as the cooperation in information exchange and training.

The cooperation between HOSE and foreign stock exchanges shows that HOSE has become a familiar brand name in the world to international financial investors

How do you think the stock market will perform in 2008, when a lot of big names like Vietcombank, Incombank, Mobifone, Vinaphone will be listed on the bourse?

The market will become more professional, which promises the growth rate double that of 2007’s.

Some experts think that the stock market in 2008 will fall due to the personal income taxation, but I don’t think so. Investors will still be able to make profit with their investment deals, while securities companies will have to improve their service quality. More valuable commodities will be listed on the bourse, bringing more choices to investors.

Source: TBKTVN.