Total value of Vietnam's capital market will make up 50 percent of the country's gross domestic product (GDP) in 2010, local newspaper Vietnam Economic Times reported Tuesday.
Under a national scheme on developing the capital market recently approved by the Vietnamese government, total value of the market will account for some 70 percent of the GDP in 2020.
To realize the targets, Vietnam will develop the market in line with international practices to attract capital both at home and abroad, facilitate investors, especially institutional ones, and diversify bonds. The country will also speed up equitization of state-owned enterprises, and listing process of equitized firms, including commercial banks.
By the end of June, Vietnam's total value of listed shares stood at some 20 billion U.S. dollars, representing around 31 percent of the GDP, and that of bonds accounted for 8 percent of the GDP, said the report.
Vietnam currently has 110 kinds of listed shares, 367 kinds of listed bonds, mostly government bonds, and 2 listed investment funds with combined face values of nearly 81,789 billion Vietnamese dong (over 5.1 billion dollars).
Source: Xinhua
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