The Ministry of Finance said the stock market has grown 29% in the first six months of this year
In the first half of 2017, the Ministry of Finance has submitted to the government a proposal to merge the two stock exchanges and issued guidance to amend the conditions for listing securities and preparing necessary conditions to put the derivative securities market into operation.
In fact, the merger plan for two stock exchanges has been put forward for a long time but has not been implemented yet. Previously, the merger of Hanoi and Ho Chi Minh City stock exchanges was agreed and the head office was decided to be located in Hanoi.
The ultimate goal of the merger is to operate more safely and effectively, helping to bring the stock market and capital market more balance within the overall structure of the country’s financial markets.
After the merger, the shares will be traded on the HOSE, while Hanoi will specialize in bond market and create a derivative market.
The report also revealed that a scheme to restructure and strategically develop the stock market during the 2016-2020 period is being implemented. “As at the end of June, stock market capitalization had risen 29% since the end of last year, equal to 55.8% of GDP,” the Ministry noted in its report.
On the equitization of enterprises, the Ministry of Finance said that is still very slow. In the first 6 months, there were 19 enterprises approved by the competent level equitization plan with the approved value of VND31,300 billion.
Vietnam’s stock market has grown significantly since early this year, with the VN-Index on HoSE increasing 13-15 per cent and the HNX-Index on HNX rising 12 per cent compared to the end of 2016.
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