Securities market provides important capital source
VOV.VN - Finance Minister Dinh Tien Dung has regarded the securities market as an important capital channel for the national economy while attending the first securities transaction session of 2017 in Hanoi on January 3.
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In his speech, Minister Dung said that the stock market has provided 25% of the capital to the economy over the past 20 years while market capitalization in 2016 was equivalent to 74% of GDP, up 35% against 2015.
Dung anticipated positive developments for the stock market this year while reiterating the Party and State policies aimed at developing a modern stock market in line with international practice in order to create an effective capital mobilisation channel.He also asked the stock market sector to continue fine-tuning mechanisms and policies, restructuring the stock market and the management agency.
Dung predicted that the securities market will improve significantly due to Vietnam’s incentive policies.
Total stock market capitalisation was equal to 74% of GDP in 2016.
In 2016, the total amount of capital mobilised through the stock market reached US$15.7 billion, up 54% from a year earlier.