Vietnam may reach 5m securities accounts in next decade

Vietnam’s stock market may reach at least five million securities accounts in the next decade from the current 800,000 accounts like Korean and Chinese markets, Hwang Sung So, managing director of Woori Securities and Investment Co (Woori I&S) announced.

The announcement was made in the opening ceremony of Woori CBV branch in HCM City last weekend.

“We believe that the stock market and securities industry of Vietnam will quickly grow in both terms of quantity and quality in a short time. In 1980s and 1990s, Korean market also showed the similar growth to Vietnam,” he added.

With such a prospect, the director expected the online securities transaction service will meet conditions to develop rapidly in Vietnam.

Currently, up to 20 million people internet and nearly 100 million mobile phone subscribers are operating in Vietnam, which will be good advantages for securities companies to launch the online transaction service.
At the inauguration ceremony in HCM City, Woori I&S and Woori CBV also officially made the debut of Mug Café -the leading online securities trading software in Korea.

Previously, last November, Woori I&S finished keeping 40 percent stake of Bien Viet Securities Co (CBV) that then was changed name to Woori CBV.

 

Category: Stocks