The recovery of the Vietnamese economy has made good impact on the local securities market and the business performance of brokerages firms, officials said at a meeting on Friday.

The National Financial Supervisory Committee (NFSC) anticipates gross economic growth of Việt Nam in 2017 will be more than 6.7 per cent.

The finance, banking and insurance industry expanded 7.89 per cent in the first nine months of this year, the highest level recorded in the past seven years.

Shares closed Monday’s trade in positive zone on the two national stock exchanges as the banking, securities and steel sectors continued to support the market.

The first-ever Việt Nam Business Summit will be held in Đà Nẵng City on November 7 within the framework of the Asia-Pacific Economic Cooperation (APEC) meeting of 21 leaders of economies, the Việt Nam Chamber of Commerce (VCCI) announced yesterday.

With its rapidly growing economy and 95 million population of whom 60 per cent are young consumers, Việt Nam is an attractive destination for global franchising and retail businesses.

Consumer finance is proving to be an attractive sector with the number of foreign companies rising through mergers and acquisitions, the news site cafef.vn reported.

Southern Bến Tre Province has targeted to open 500 new firms each year, bringing the total number of enterprises to 5,000 by 2020.

Việt Nam Textile and Apparel Association (VITAS) has petitioned the Ministry of Finance and the Ministry of Industry and Trade to not increase import tariffs on polyester fibre from zero to 2 per cent.