Luận Văn Tiểu luận tiếng anh: The achievements and limitations of Vietnam's stock market

Prefrace

Vietnam’s economic growth rate has been at 7-8 percent in recent years, and in 2005 the rate up to 8,4 %. These rates are considered to be among the highest in the world. Therefore to maintain the above rates is a difficult question to the Government. One of the effective ways is to raise capital, besides ODA (Official development Assistant) or FDI (Foreign development investment), the other medium and long- term capital we can expect is stock market. So what we have got here not only the funds of organization but also individuals' money.It can be denied that nowadays VN's stock market is an effective kind of investment and it also receives a lots concerns.
Vietnam's stock market was founded in 2000 after a great deal of the Government's effort. June 1995, the Prime Minister - Vo Van Kiet signed the dicision number 361/Ttg about the set-up of "The bureau of Preparation for organizing the stock market". From then on people responsible for this project worked hard . The State Securities Commission (SSC), was established in 1996, is responsible for capital markets development, licensing of participants, and the issue and enforcement of regulations. The Stock Trading Center of Vietnam (STC), located in Ho Chi Minh City, was officially operated on July 20, 2000, and trading launched on July 28, 2000. Initially, just two equities were Refrigeration Electrical Engineering Joint Stock Corporation (REE) and Saigon Cable and Telecommunication Material Joint Stock Company (SACOM). Up to now, there are 56 equities and bonds with the total value of 3.5 billion USD.
After a long time existing and developing, Vietnam's stock market is surely to be proud of its achievements but there are a lot of limitations and if we don't solve it step by step, the stock market can be failed in one day like the financial crisis in Asia in 1997 in Songapore, Hongkong, Korea and other countries.