Minister of Finance Nguyen Van Thang has held a meeting with Michael West, President of Moody’s Ratings, to discuss measures for improving Vietnam’s national credit rating, the Ministry of Finance (MoF) reported.

As many as 40 enterprises with capitalisation of over US$1 billion each had been listed on the Ho Chi Minh Stock Exchange (HoSE) by the end of 2024, the bourse has announced.

Measures to alleviate difficulties for enterprises and citizens in 2024 proposed by the Ministry of Finance including tax and fee reduction and exemption represented an estimated value of VND191 trillion (US$7.49 billion), the ministry reported on December 31.

Amid the surging wave of telecommunications and technology stocks on the Vietnamese stock market, Viettel Global Investment JSC (VGI) has emerged as a rising star, capturing significant attention as its stock price relentlessly climbs to record levels.

The market capitalisation of Vietnam’s stock market approximated VND6 quadrillion (US$246.7 billion) in 2023, rising 9.5% from and equivalent to about 62% of gross domestic product (GDP) in 2022, statistics show.

Foreign investors net bought VND1.642 trillion (US$70.33 million) worth of shares on the Unlisted Public Company Market (UPCoM) in the first six months of this year.

Market capitalisation on the Ho Chi Minh Stock Exchange (HOSE) rose more than 42% year-on-year to VND5.8 quadrillion (US$254.83 billion) by the end of 2021, accounting for 92.77% of the previous year’s GDP.

The market capitalisation of Axie Infinity, a blockchain-based trading and battling online video game developed by a Vietnamese studio, currently stands at US$2.5 billion with about 61 million AXS traded.