What are your remarks of the stock market in 2007 and its prospects for 2008?

In 2007, the stock market failed to make many investors happy, however, the market scale doubled compared to 2006. This proved that domestic and foreign investors are very interested in the Vietnamese stock market, a good signal for the development of the stock market in Vietnam in 2008.

I wish investors and market members a new year of prosperity together with the Vietnamese stock market.

According to experts, the stock market will reach a target of total market capitalisation equivalent to 50% of GDP. What is your comment?

The target is achievable. In 2008, equitisation process will continue to be boosted, the markets will have more high quality “products.” We believe that the markets adjustments in 2007 was necessary for the domestic market to heighten its development in 2008.

What are SSC’s measures to stimulate demands in 2008?

We propose two major measures:

Firstly, continuing to expand and develop private and public investment funds. The SSC has built regulations on individual issuing investment companies to create a new investment form to better attract investment.

We have also had thorough discussion on foreign investment. We welcome and appreciate foreign investment flows into Vietnam.

In particular, recent visits abroad by leaders of the Party and government have helped raise Vietnam’s profile, thus contributing to attracting more foreign investment.

The number of accounts owned by foreign investors is increasing. What is SSC’s regulation on foreign investment?

SSC has built a “Regulation on Foreign Investment” in March 2006. However, the regulation has yet to be issued as we need to collect opinions from market players and relevant agencies for an official agreement.

What did SSC do to limit a boom in violations in 2007?

Market members and market joining organisations are urged to abide by the law. In 2008, SSC will be more severe in dealing with violations, especially those issuing shares to the public without any registry with the SSC.

In 2007, punishment was only warning. However, the punishment will be stricter in 2008, especially if the violators are banks.

Source: Nhan Dan.