Want to be in the loop?
2018 A BANNER YEAR FOR LOCAL EQUITY MARKET
The net value of foreign capital flowing into Việt Nam’s equity market in 2018 hit US$2.8 billion, according to State Securities Commission vice chairman Phạm Hồng Sơn.
That figure was almost 2.3 times the figure of $1.23 billion in 2017 and set up a new record high of net foreign purchases since 2008, Sơn said at a meeting on Wednesday, adding foreign capital had started to leave other Southeast Asia markets.
The total value of foreign investment in Việt Nam as of the end of 2018 was estimated at $32.8 billion.
In 2018, the global economy saw strong growth amid worries about uncertain geo-political conditions, the US Fed’s rate hikes and trade tensions between the biggest economies.
Those worries were reflected in the volatility of global markets, including in Việt Nam, with many ups and downs, the SSC vice chairman said.
“Thanks to the strong growth of the domestic economy and management of both Government and the finance ministry, the Vietnamese equity market saw increases in size and liquidity,” Sơn said.
The value of the stock market at the end of 2018 hit VNĐ3.9 quadrillion ($167.8 billion), up 12.7 per cent year on year and equal to 71.6 per cent of the country’s total gross domestic product (GDP). The figure even beat the target set at 70 per cent of the country’s total GDP for 2020.
Average trading value in each session of 2018 was estimated at VNĐ6.5 trillion ($279.6 million), up 29 per cent year on year.
Total value of the bond market was VNĐ1.12 quadrillion, up 10.5 per cent year on year and equal to 20.3 per cent of 2018 GDP, and daily average trading value of the bond market reached VNĐ8.83 trillion.
The derivative market also saw strong liquidity growth after its first year of operation, with more than 21,600 contracts traded.
At the end of 2018, total corporate earnings rose 20.5 per cent in revenue and 24.9 per cent in profit year on year. Securities companies saw their post-tax profits rise 40 per cent year on year.
The aftermath of the health crisis has prompted Vietnam to consider adjusting its economic growth target, with the recommendation that providing practical support for the private sector will help the economy achieve higher growth and create more jobs.
Despite unprecedented revenue-risk allocation in the draft Law on Public-Private Partnerships, international developers are urging Vietnam to make additional changes ahead of the National Assembly’s adoption to increase future bankability.
vernment has issued e-visa to citizens from 80 countries since July 1 this year, according to its latest Resolution No. 79/NQ-CP. Visitors with e-visas can enter Viet Nam at eight international airports, or arrive via land at 16 international border gates and via sea at 13 ports across the country.
Rooms and suites feature classic decor, soft sunlight and a natural indoor-outdoor flow. Laze in your living area or out on your balcony daybed, choosing from garden or river views.
Quang Ninh sustained its position as the most competitive province for the 3rd consecutive year, according to the Provincial Competitiveness Index released by the Viet Nam Chamber of Commerce and Industry (VCCI) and the US Agency for International Development (USAID) early this month.
The EU-Vietnam Free Trade Agreement (EVFTA) could boost Vietnam’s GDP by 2.4% and exports by 12% by 2030 and lift an additional 100,000-800,000 people out of poverty by 2030. Such benefits should be capitalized on as the country is aggressively responding to the Covid-19 pandemic.