The Ministry of Finance and the State Securities Commission (SSC) of Vietnam jointly held an investment promotion conference entitled ‘My Vietnam - Your Investment Destination’ in Singapore on Tuesday.

Addressing the event, Vietnamese Minister of Finance Ho Duc Phoc highlighted the importance of the Vietnam - Singapore bilateral ties over the past five decades, including more than 10 years of strategic partnership.

Both sides have seen their cooperation in economy, trade, and investment increasingly advance over the years.

The finance minister believed that Vietnam and Singapore have much potential for achieving further development, particularly in the financial market, capital market, and securities market.

Therefore, the finance ministry, in collaboration with partners, organized this conference to provide more investment opportunities and create a substantial dialogue channel to help businesses and investors better understand the policies, orientations, and potentialities of the Vietnamese economy in general and the financial market in particular.

Over its 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 from both domestic and international investors.

"Vietnam will continue its efforts to ensure transparency, safety, efficiency, comprehensiveness, and sustainability in its stock market, while protecting the rights and legitimate interests of all stakeholders," the minister added.

The finance ministry has pledged to support partners, businesses, and investors by providing favorable opportunities for investment and cooperation, aiming for mutually beneficial outcomes.

At the event, the SSC provided Singaporean investors with an overview of Vietnam’s stock market, its prospects, market development goals, and upcoming policies.

Representatives from Vietnamese securities companies, fund management firms, and major listed companies shared insights into the growth potential of the Vietnamese stock market, the preparations by securities companies, and opportunities for cooperation.

Speaking at the event, Vu Thi Chan Phuong, chairwoman of the SSC, emphasized that upgrading the Vietnamese stock market from a frontier market to an emerging market is one of the government's major goals.

As of July this year, over 1,600 securities and fund certificates were listed and registered for trading on the Vietnamese stock market, with a market capitalization of US$278 billion, equivalent to 65 percent of the country’s 2023 GDP.

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

In the ASEAN region, the Vietnamese stock market remains dynamic, with liquidity reaching some $1 billion per day, ranking first or second in the region in terms of liquidity. 

Moreover, the liquidity of the Vietnamese and Singaporean stock markets is equivalent.

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