Vietnams stock market a 10 year journey

Vietnam's stock market , a 10 year journey

10:40:11 | 20/07/2010

Vietnam's stock market after 10 years was born and died, has made miraculous development , surprised even the insiders . Now, according to many, the stock market was mature enough to be managed in a more advanced model to promote growth and greater efficiency of the market.
The first memorable moment
Morning on 28/07/2000 , REE and SAM two stocks with a total capital of 270 billion and a few government bonds has officially offered the floor , marking the birth of Vietnam's stock market . That day, in trading floor of the Saigon Securities Joint Stock Company ( SSI ) , when the first purchase transaction goes smoothly , everyone cheered enthusiastically with confidence about the development of Vietnamese stock market In the future . At that time , hardly anyone can be measured out the same level of market ups and downs with later developments .

The increase of the VN -Index up 517.04 points from 100 points in nearly a year after opening , then quickly fell 130 points brought anxiety , fear for many members . Despite practicing certificate as a broker, underwriting ... , more professional as underwriting , financial advisory , consulting ... listing of the Securities is only doing " opens but not the results How will . Period of quiet market , trading floor that day to the temple as often , appear only a few investors ( investors ) sat drinking tea and chatting . In many new securities companies to open , just see the staff and the board , not a shadow investors. At that time , the mood of confusion do not know where to go to market will probably not only among investors that the general mood of many.

The development of magical , beyond the original plan
After 10 years , in retrospect , what was that many people do not get surprised . Two Exchange , a market UPCoM , more than 550 codes listed shares , 105 securities companies , 46 fund management companies , nearly 1 million trading account , which is about 25 % of foreign investors is ... these impressive figures . Ten years, two floors were made on the 3000 session ( in HOSE is the 2327 version , the 1163 version HNX ) and they all take place safely.

Achievements on the secondary market has a positive impact to the market release , many public companies , especially listed companies which has increased from tens to hundreds of times . 2 year 2008-2009 alone had 35,000 billion worth of shares (in value ) is released to the public , contributing to a healthy financial structure of enterprises.

" After 10 years of struggling, 10 years development , we can say , Vietnam's stock market has had a miraculous development , beyond the original plan of many people in , "said Bui Nguyen Hoan , Head Office SSC area in the southern provinces , assessment . The transaction was to create a visual image , a lively stock market for Vietnam and initially formed a " stock culture " in public.

According to Bui Nguyen Hoan , to get the record, the first head of their respective activities in the market : investors , business professionals and organizations listed . They are aware of new things very fast , very dynamic and courageous .

Towards innovative models of management
Vietnam's stock market has undergone a journey with different tones , in association with the change management market structure . With the development of both breadth and depth as the current model that SSC management under the Ministry of Finance have any access issues for the development of the market. Many experts said that it was time SSC should be more independent and is managed by the Prime Minister to create flexible , dynamic market .

Financial expert Bui Kien Thanh said that anyone who understands the stock market than is needed SSC but the decision to go back . How executive style " remote control " lead to two possibilities : if the only decision based on the recommendations of delay , unnecessary , while if different decisions based on the general understanding is likely to cause sabotage . The problem here is the ability to react to a potential risk of market fluctuations in strength are complex ... very fact need a professional agency offering solutions in the market to first have stability defined and stable .

Mr. Bui Nguyen Hoan share period in 2004 , SSC into the Finance Ministry is also necessary. Thus the new Hanoi Securities Trading Center was launched in 2005 . But to date, SSC has the organizational phase and construction market , the key task now is to manage and supervise . On the subjects of management and nature management , between the SSC and the Ministry of Finance is completely different . SSC perform state management of securities and securities market to protect the assets of the public ( investors) , primarily in management guidelines and regulations to encourage the creation of the subject in the market . Conversely, the Ministry of Finance to manage and protect state assets , regulatory management by command and object management requirements must be followed strictly .

Deputy Prime Minister Nguyen Sinh Hung as a Minister of Finance, said: " The plan of the Ministry of Finance to correct SSC is not the same country but also in conformity with the characteristics of Vietnam . When we prepare eligible to SSC is position independent way of redistribution but also to at least 2010, maybe even until 2012 or 2015 . "

January 1993, when the pilot scheme to build capital markets in the city . HCM City leader was submitted to the Government. Prime Minister at that time Mr has a historical conclusion : " Vietnam will open its stock market , stock market , the pilot can not really have to do that , the local stock market which can not be of Middle Central , the country ... "said Bui Nguyen Hoan recalled.

Source: Hong Van - DTCK