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Tran Dac Sinh, Director General of the Exchange in Ho Chi Minh City (HOSE), discussed the prospects of the stock market in 2008.

Some experts said that the stock market in 2007 has been less successful than the previous year. Do you agree with the view?

No, I do not. In fact, the stock market has been developing over the past year. On December 28, 2007, the market had to share articles 138, three bond funds and 17 points (32 share items of funds and a certificate were listed in 2007). There were 200000 accounts of operations at the end of 2006 and the number had increased to 300000 by the end of 2007, increasing by nearly 50%.

Regarding VN index, it did not slip in 2007 as people thought. The VN Index was 741.27 points in the first trading session of the year, and was 927.02 points at the last trading session of the year, December 28, 2007, which means an increase of 25% over the last year. The increase of 25% VN index should be seen as a good sign, which shows the growth rate stable market, not too hot disturbing the market.

If you compare the market value of GDP, the figure would be 40% of GDP in 2007, far exceeding the levels of 25-30% set by the Prime Minister. It is anticipated that the value of the total market capitalization in 2008 only 50-60% of GDP.

What extent did the HOSE in the development of the stock market in Vietnam?

Among the new markets in the world, Vietnam is seen as one of the "hottest" markets. "Growth" and "development" are two words that were used by foreign experts when we talk of the Vietnam stock market.

HOSE, as a market regulator, has played a very important role in development.

Speaking of the technical equipment to HOSE. Why was-2007?

Troubles in the transactions are inevitable. Singapore, one of the most remarkable market in the world, saw 14 issues last year.

However, we understand that we must do our best to reduce the problems, and we are going to make heavy investments in technical installations, and not just in 2008 but in subsequent years
Please could you tell me about the cooperation between HOSE and foreign stock exchanges?

Recently, we signed the memorandum of understanding with the major stock markets in the world, including the New York Stock Exchange, Tokyo, London, Hong Kong, Republic of Korea, Thailand, Singapore and Malaysia. The MOU includes provisions on technical cooperation as well as cooperation in the exchange of information and training.

Cooperation between HOSE and foreign stock exchanges shows that HOSE has become a household name in the world of international financial investors

How do you think the stock market will occur in 2008, when many big names as Vietcombank, Incombank, Mobifone, Vinaphone will be listed on the stock market?

The market will become more professional, which promises growth rate double that of 2007.

Some experts believe that the stock market in 2008, due to the drop in personal income tax, but I do not think so. Investors can still make profits with their investment deals, while securities companies will have to improve their quality of service. More valuable will be listed on the stock market, bringing more choices for investors.