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Home / Economy / Banking & Finance
Mr. Dinh Tien Dung opened first transaction of security market session
By Tuan Minh 12:36, 2014/02/08
Minister of Finance Dinh Tien Dung opened the lunar new year’s first transaction session on February 7 with a hopeful assessment of the security market’s future.
Dung stressed the importance of restructuring towards sustainable development goals during the course of 2014. He credited the Vietnamese stock market with 13 years of pleasing development, praising it for continuing to function as an important channel for capital despite domestic and global economic difficulties in 2013.

The market index increased 23%, entering the world’s top ten markets, and the bond market boasted the strongest development in Asia. Capital mobilised via the stock market is estimated at VND243 trillion (US$11.6 billion), equal to more than 20% of total social investment.

The scale of indirect investment has also increased remarkably to nearly US$4 billion.

Many investors placed their faith in macroeconomic and listed business recoveries during 2014.  Saigon Securities Inc. General Director Nguyen Duy Hung predicted an auspicious 2014 for the securities market provided bad debts are resolved and the real estate market is successfully stimulated.

Improving transparency is essential to the securities market’s sustainable development. Hung thought opportunities will abound following Vietnam’s entry into the Trans-Pacific Partnership (TPP).

He noted 2014’s importance in the 2011–2015 socio-economic development plan, adding substantial restructuring remains a pressing concern. Vietnam needs to establish an oversight authority empowered to review transactions and procedures and punish any violations uncovered.  

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