Banking & Finance

Under the Project on Improving the National Credit Rating to 2030, Vietnam is striving to reach Investment grade by 2030. According S&P and Fitch, its credit rating is currently “BB”, while Moody’s has it at “Ba3”. All three give Vietnam a positive outlook.

There remains much room for growth in Vietnam’s stock market in the medium and long terms, analysts believe, because positive supporting factors from the macroeconomy are still in place. The State Securities Commission (SSC) said it is actively completing the legal framework and formulating a strategy to develop the stock market to 2030.

According to FiinGroup, individual investors in the stock market posted the strongest net selling in April since the beginning of 2021, totaling VND4.3 trillion ($186.08 million). The amount of money in their accounts did not increase, however, and even decreased. Foreign investors, meanwhile, disbursed actively after nearly two years of net selling.

The Ministry of Information and Communications is collecting opinions on a draft Law on Electronic Transactions (amended). A unified law is to be developed, creating a complete legal corridor to transform activities from the physical to the digital environment in all industries and fields, ensuring that electronic transactions are as transparent as traditional transactions.

Individual investors opened more than 232,000 new accounts on Vietnam’s stock market during April, bringing the total to more than 5.2 million. With such growth, it is entirely feasible that 10 per cent of Vietnam’s population will be participating in the stock market by 2030.

State budget revenue in the first four months of this year has been estimated at more than VND645 trillion ($28.02 billion), a 13.3 per cent increase compared to the same period last year. There are issues that may affect budget revenue into the future, however, such as rising fuel prices affecting production costs, and loss of revenue from support policies such as tax exemptions and reductions, among others.