An Overview of the Vietnamese Securities Market and Development Programs

[[abstract]]越南證券市場已走過了十年以上的歷程，從無到有，從小到大，對越南經濟的影響力也越來越大。但是，其中也存在一些不容忽視的問題。對這些問題的解決，直接關係到證券市場乃至經濟改革的成效。越南在證券市場方面成長快速，已成為國際投資者關注的目標市場。證券市場規模佔GDP比重由2000年的不到1％，成長至2007年的40％，然因市場規模小，容易產生流動性風險 ，股價易暴漲暴跌，2006年股價漲幅世界第一，2008年至今股價跌幅也是世界第一。另外，其對外國投資人之開放程度亦較一般新興國家高，允許外資法人及自然人直接參與股市投資。本論文分析、研究越南證券市場的概況有助於企業、投資者進一步了解越南的經濟發展狀況,能夠提供必要的資訊與信息,還可以得出一些有益的啟示。論文部分集中在第二章，簡介越南證劵市場形成，包含胡志明證劵交易所及河内證劵交易所之結構與運作。第三章，特別分析整個市場的發展狀況以及發現一些影響到證劵市場的因素；從此，分析幾個重點的行業讓投資者更加了解。第四章通過分析在越南證券市場的建設上，發現一些存有問題，同時找出最適合的解決方案。論文所用資料絕大部分來源於越南專業刊物和著作。[[abstract]]The Vietnamese stock market has gone through a course of more than 10 years from small to large the influence of the Vietnamese economy is also growing However there are some problems that can not be ignored Solutions to these problems directly related to the effectiveness of the stock market and even economic reform Vietnam has increased rapidly in the securities market has become the target market for the international investor attention Size of the stock market from 2000 is less than 1% of GDP to grow to 40 percent in 2007 However because of the small market size prone to liquidity risk the stock is easy to spike 2006 shares rose first in the world share prices have fallen since 2008 is also the first in the world In addition its degree of openness to foreign investors than the general emerging countries to allow foreign legal entities and natural persons directly involved in the stock market This paper analyzes the research overview of the Vietnamese securities market to help companies and investors to learn more about Vietnam's economic development to provide the necessary information; you can also draw some useful lessons The thesis is part of the focus in the second chapter the formation of the Introduction to the Vietnamese securities market including the structure and operation of the Ho Chi Minh Securities Exchange and Hanoi Securities Exchange Chapter III in particular analysis of the development of the market situation and find some impact on the securities market factors; Since then the analysis of several key industry investors a better understanding Chapter IV by analyzing the construction of Vietnam's securities market we found there are some problems and identify the most suitable solution Papers with information on the vast majority comes from professional journals and books in Vietna