He said on January 3 at the first trading session of 2017 that over the past 20 years the stock market has become an important capital channel, providing 25% of capital for the economy.
In 2016 total capital mobilised through the stock market rose 54% from a year earlier to more than VND348 trillion (US$15.3 billion), including VND312 trillion (US$13.7 billion) mobilised through government bonds.
Minister Dung said that the stock market is an effective tool to accelerate State-owned enterprise reform and attract foreign indirect investment.
In 2016, 118 equitised SOEs were put onto the unlisted public company market or UpCom, raising the total number of enterprises on this market to 408, with capitalisation four times the 2015 figure.
At the first trading session of 2017, two major State-owned companies, Vietnam Airlines and Vietnam National Textile and Garment Group (Vinatex), made their debut on the UpCom market.
Vietnam is planning to merge the two stock exchanges in Hanoi and Ho Chi Minh City while a derivatives market is scheduled to be launched in the second quarter of this year.
