Finally, I did buy stocks of Vingroup JSC<VIC>. The SBI SECURITIES sends me neither confirmation mail of order nor completion; I had been unsure until I check my SBI account to find they completed all my orders. I invested 100 million dongs in total in the company. Vingroup is the largest conglomerate in Vietnam, which operates VinFast, Vsmart, Vintech, Vinpearl, Vinschool, etc.
In Vietnam, more and more people open accounts with securities companies. According to VSD, Vietnam Securities Depository, the number of newly opened domestic accounts in March 2021 was 113,340, which marked the highest number ever. At the end of March 2021, the number of accounts owned by foreign investors is 36,375. More and more Vietnamese people are rushing into the emerging and prospective markets now.
The amount of money that flowed into the stock market from the beginning of the year to the end of March was 56 trillion VND (about 270 billion JPY), a sharp increase of 42% year-over-year. The average trading value per business day in the stock market reached 18 trillion VND (about 91.3 billion JPY). The deposit interest rate is expected to stay low, so people seeking higher interest rates are heading for the stock market and real estate. Although the deposit rate is low, the rate in Vietnam(+5.5%) is much higher than that in Japan. How vibrant the economy is.
This year, Forbes selected six people from Vietnam for its World’s Billionaires. The richest person in Vietnam is Pham Nhat Vuong, chairman of Vingroup, whose net worth is $8.5B. He studied in Russia and was successful in the noodle business in Ukraine. He is now the 344th richest person in the world. Next year, more people from Vietnam will be nominated.
It is an excellent time to invest in the country because due to the corona pandemic, the stock market is all in all at a lower level now. And the ownership ratio of overseas investors is the lowest in the last three years(18.5%). That means foreign investors temporarily withdraw the fund out of the market, leaving the overall prices low. After the pandemic, the fund from overseas will come back, and the domestic fund also will head for the market. World Bank expects the growth rate of 2021 will be +6.6%. So never hesitate to get on to the bus.