The groundwork has been done for the securities market to grow in 2007 with the taking effect of the Securities Law and the completion of necessary institution and technology, said a senior governmental official.
At a working session with the State Securities Commission (SSC) in Ha Noi on Feb. 23, Deputy Prime Minister Nguyen Sinh Hung said although the market expanded in scale in 2005-06, its growth was not stable due to the imbalance between supply and demand. He said things are expected to change as economic restructuring has created a level playing ground for local businesses and attracted more foreign investors to invest in Viet Nam.
A large number of local enterprises are continuing to hasten their equitisation process and join the securities market, he added.
The deputy PM urged the SSC to map out concrete measures to maintain the development pace of the securities market and build up a flexible foreign exchange rate in line with the market.
It is also a must to continue to improve the investment environment, particularly the legal framework and institution in order to ensure long-term foreign investment in Viet Nam, added Hung.
He said there should be policies to ensure the market's quality, sustainable development of businesses and capital of investors.
Source: VNA
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