Viet Nam, Singapore spur financial investment promotion

Minister of Finance Ho Duc Phoc made the point while addressing the Investment Promotion Conference themed “My Viet Nam – Your Investment Destination” in Singapore on August 6. 

The minister said that over more than 24 years of operation, the Vietnamese stock market has demonstrated its attractiveness through the number of listed securities, high liquidity, and strong participation of both domestic and foreign investors.

As of July 2024, the market has over 1.600 securities and fund certificates listed and registered for trading on the market, with a market capitalization of approximately US$278 billion, equivalent to 65 percent of the national GDP.

The number of investors has grown significantly, with 8 million securities accounts, equivalent to more than 10 percent of the adult population.

Within the ASEAN region, the Vietnamese stock market is very dynamic, with liquidity reaching about US$1 billion per day, ranking first or second in the region in terms of liquidity. The liquidity of the Vietnamese and Singaporean stock markets is equivalent.

Ho affirmed that Viet Nam is committed to accompanying and creating favorable opportunities for partners, businesses, and investors to seek investment and cooperation opportunities in the Southeast Asian nation.

The Ministry of Finance welcomes Singaporean businesses and investors in particular, and the region in general, to increase new investments and expand investment scales in Viet Nam, further promoting the effectiveness of cooperation and investment to achieve mutual success and shared prosperity.

Earlier, on August 5, Minister of Finance Ho Duc Phoc witnessed the signing of a Memorandum of Understanding (MoU) between Singapore Exchange (SGX) and the Viet Nam Exchange (VNX) to boost the development of Singaporean and Vietnamese stock markets.