Vietnam’s stock market capitalization to GDP reached 70%

The Hanoitimes – The target for Vietnam’s stock market capitalization by 2020 is 70% of GDP. However, the Ministry of Finance informed that Vietnam’s stock market has achieved this target in 2017. Specifically, for the stock market, the Ministry of Finance has completed the revised draft Law on securities, issuing Decree No. 71/2017/ND-CP regarding the corporate governance applicable to public companies, which is effective from August 1, 2017, as well as launching the derivatices market  since August 2017. At the same time, the government also put effort in attracting foreign investors through loosening room and simplifying the registration procedures.   Vietnam’s stock market capitalization achieved the target of 70% GDP set for 2020. In 2017, Vietnam’s stock market capitalization reached nearly 70% of GDP, up 80.5% compared to the year- end of 2016. With this result, the Ministry of Finance informed that the stock market has achieved the target set for 2020. For the insurance market, total revenue for the sector is estimated at VND 105.6 trillion (roughly US$ 4.6 billion), an increase of 21.2% over the last year’s figure; total asset value reached VND 302.9 trillion (roughly US$ 13.3 billion), up 23.4%; reinvesting to the economy of VND 247.8 trillion (roughly US$ 10.9 billion); insurance premiums totaled around VND 29.4 trillion (roughly US$ 1.3 billion), up 14.9%. On the process of state-owned enterprises (SOEs) restructuring, the Ministry of Finance stated that state corporations and economic groups have accelerated the implementation process. As of December 20, equitization plans for 47… [Read full story]

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