Stock market cap at 53% of GDP
Wednesday, June 14,2017AsemconnectVietnam - The capitalization of Vietnam’s stock market rose to a record high of more than VND2,400 trillion at the end of May, representing 53% of the country’s gross domestic product (GDP), said the Ministry of Finance.
According to a finance and budget report announced last Friday, the stock market capitalization jumped 23.5% compared to late 2016. Meanwhile, the VN-Index and HNX-Index grew 10% and 18% respectively.
However, the ministry’s report made no mention of total indirect investment into Vietnam via the stock market.
A General Statistics Office (GSO) report said foreign investors conducted over 2,000 capital contribution and share acquisition deals with local companies between January and May, with a total investment of nearly US$1.79 billion.
Fresh investments, extra capital contributions and share purchases are part of foreign direct investment (FDI) inflows. The Government has announced figures on these investment activities since 2016.
According to the Foreign Investment Agency under the Ministry of Planning and Investment, over 2,500 foreign institutions acquired shares at Vietnamese companies with a combined value of around US$3.4 billion last year, making up a majority of total FDI approvals of US$24.3 billion.
In the first five months of this year, new FDI approvals for new and existing projects amounted to US$12.1 billion, up 10.4% year-on-year, said GSO.
Source: thesaigontimes.vn
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