The French daily newspaper “Les Echos” on December 28 hailed the development of Viet Nam’s stock market. — VNS Photo

The French daily newspaper “Les Echos” on December 28 hailed the development of Viet Nam’s stock market.

The newspaper said the Ho Chi Minh Stock Exchange’s main index is up 16 per cent in 2016. With this continuous growth, Viet Nam’s stock market will record five years growing up.

The stock market of Viet Nam has grown 97 per cent since 2012 despite the big shadow of China and it will likely enjoy growth for five years in a row.

The newspaper also saw the Viet Nam’s stock market to grow at 6.5 per cent in 2017.

The stock market of the Southeast Asian country has benefited from loosened monetary policy, flexible financial policy and price competitiveness, along with the increase of foreign investment, according to the newspaper.

It is also supported by the Initial Public Offering (IPO) of many State-owned companies, including those rated highly by experts and investors, such as Vinamilk, Vinatex and Vietnam Airlines.

However, Les Echos also noted that public debt, budget deficit and dependence on export as well as the uncertainty of the Trans Pacific Partnership (TPP) Agreement will likely affect Viet Nam’s economy and stock market. — VNS