Deputy Chairman of the National Assembly Economics Committee, Nguyen Duc Kien is urging investors to pour money into production and business rather than into traditional investment areas. — Photo viettimes.net.vn
Deputy Chairman of the National Assembly Economics Committee, Nguyen Duc Kien, is urging investors to pour money into production and business rather than into traditional investment areas.
Speaking at a conference hosted by bizlive.vn on Saturday in northern Thanh Hoa Province, Kien said that Viet Nam expected to become a start-up nation and the Government was developing policies to promote the start-up wave that would provide investment opportunities. “Look at the market demand when making a decision on investment,” Kiên said.
Kien said the ongoing privatisation of State-owned enterprises (SOEs) would open significant opportunities for private investors to participate in a number of sectors, which were previously Government domain.
But experts at the conference also said that privatisation of SOEs would help boost the securities market.
According to Nguyen Thanh Long, Chairman of Hà Noi Stock Exchange, the stock market performed well in 2016, with capitalisation value increasing by 40 per cent to $135 billion, or 65 per cent of the gross domestic product (GDP).
Although it is difficult to forecast market performance as developments in the global market is unpredictable, foreign investors remain bullish on the stock market of Viet Nam, Long said.
Economic expert Nguyen Tri Hieu said investments next year in securities and real estate appeared promising.
The securities market will receive stimulators from the listing of many SOEs, while the property market is more diversified in term of products together with commitments of returns by developers, Hieu said. However, Hieu said the property market should be a choice for those looking for long-term investments.
Still, Hieu said bank savings remained the least risky investment avenue, adding that there would be unpredictable developments in gold and foreign currencies in 2017.
Hieu said that Vieệt Nam’s economy was facing the pressure of mounting public debt, plus out-of-control factors such as climate change, as well as developments in the world, such as Brexit.
Economic expert Ngo Tri Long said Viet Nam needed to have measures in place to tackle the public debt and boost reform amid potential instabilities in the global economy. — VNS