Illustrative image (Source: VNA) Experts said the unexpected strong growth of theVietnamese market is one of the factors luring foreign investors.
Statistics show that foreign investors net bought morethan 4.18 trillion VND (178.59 million USD) on the Ho Chi Minh Stock Exchange(HOSE) and the Hanoi Stock Exchange (HNX) over the past month.
Head of Analysis Division of VNDIRECT SecuritiesCompany Tran Khanh Hien said under the management of the State Bank of Vietnam(SBV), Vietnam’s inflation stands at an “acceptable” rate.
The Vietnamese dong maintaining its strength in the contextof soaring US dollar has also helped to raise foreign investors’ confidence inthe Vietnamese market, she continued.
Michael Kokalari, chief economist at VinaCapital,held that domestic consumption will be the main driver of the Vietnameseeconomy, adding that in the first half of this year, retail sales adjusted forinflation grew by 7.9%, and surged to 11.9% in the first seven months, farabove the 7% growth his company had previously forecast.
Earlier this year, the Asia Plus Securities (ASPS)of Thailand has recommended increasing investment in Vietnam, citing thecountry’s high growth prospects based on its ample local workforce, low minimumwage and steadily rising per capita income.
ASPS said Vietnam’s GDP growth is forecast at 5-7%annually until 2028, surpassing both Thailand and Singapore.
At the end of the session last week, foreigninvestors net purchased 615.71 billion VND on HoSE and HNX, with shares of SSISecurities Corporation sold most (25.4 million shares)./.
VNA
