Acting Chairman of Board of Directors, Hochiminh Stock Exchange (HOSE) Le Hai Tra said that the average daily trading value can reach up to VND10,000 billion (roughly US$500 million).
Thanks to the growth of the market, within the first seven months of 2017, HOSE has finished 96% of the 2017 plan and its earnings before tax has doubled that of the same period of 2016. This is a fantastic outcome since Le Hai Tra became the Acting Chairman of HOSE in November 2016.
In 2016, HOSE’s market capitalisation accounted for 42% of Vietnam’s Gross Domestic Product (GDP), reaching US$86.5 billion on August 29, 2017, and being expected to account for 60% GDP of Vietnam in 2020.
According to Le Hai Tra, the stock market is now quite stable, leading to the stability of stock price; therefore, it is unnecessary to change the range of price fluctuation, which is 7% currently. HOSE is co-operating with Korea Stock Exchange to develop and complete an IT project which is expected to be finished in 2018, applied in HOSE, the Hanoi Stock Exchange (HNX) and Vietnam Securities Depository (VSD); and ultimately change the information technology platform of Vietnam stock market.
Within next three years, the daily average trading value can reach VND10,000 billion (roughly US$500 million).
Besides, Vietnam’s stable economic growth, plentiful supply for the stock market and its policy to attach equitization to listing in the passing time have promoted the development of the stock market, making the market capitalisation reach US$86.5 billion on August 29, 2017. Also, private enterprises have developed and gained more experience in taking advantage of the stock market to support their long-term development strategy.
Vietnam has significantly attracted the interest of international investor community compared to other nations in the region thanks to a huge number of listed companies whose daily average trading value is over US$1 million each.
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