Vietnam targets developing its stock market in a stable, safe, healthy, efficient, sustainable, and integrated manner by 2030 under a stock market development strategy approved recently by Deputy Prime Minister Le Minh Khai.

The strategy also aims to improve risk resistance in the market, making it an important medium and long-term capital mobilization channel for the national economy.

It will also focus on promoting green and sustainable financial tools and digital transformation and building market supervision and management systems with the application of modern information technology.

Under the strategy, stock market capitalization is to equal 100 per cent of GDP by 2025 and 120 per cent by 2030, while outstanding bonds are to represent at least 47 per cent of GDP by 2025 and 58 per cent by 2030.

The derivatives market, meanwhile, is projected to grow by an average of 20-30 per cent a year in the 2021-2030 period.

The number of stock traders is to reach 9 million by 2025 and 11 million by 2030.

Vietnam’s stock market is to be upgraded from a frontier market to an emerging market by 2025, with a view to joining the group of four major stock markets in ASEAN by that time.