Vietnam stock market aims for global connection

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Vietnam will complete the legal framework for its stock market this year in an effort to connect it with regional and world markets, Deputy Finance Minister Tran Xuan Ha said Tuesday.

The plan to globalize the Vietnamese stock market has been under review for several years and hopefully it will be connected to the global market this year, the Vietnam Economic Times reported Ha as saying, during the re-opening of the Hanoi Stock Exchange following a 10-day holiday break.

He said Vietnam's market capitalization accounted for nearly 37 percent of the gross domestic product last year. Since 2009, stock transactions have declined in terms of value but capital flow increased by 350 percent.

Vu Bang, chairman of the State Securities Commission, said the stock market has "many opportunities" to grow this year.

"We expect more foreign investment to come in," he said, noting that local companies will boost share sales this year.

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