The forecasted figure was released at a conference on the securities market's operations in 2007 held in Hanoi on January 10.

According to Vu Bang, Chairman of the State Securities Commission, the domestic stock market saw strong growth last year in spite of certain limitations such as the imbalance between supply and demand, slow provision of information from listed firms and small scale of the market.

A large market lacking openness, transparency and effective management also threatens the stability of the country's official stock market and financial system, he added.

The conference put forth a number of measures to promote the development of the securities market with a focus on completing the legal framework for this field, increasing State management, raising transparency and quality of corporate management, upgrading information technology facilities, and developing human resources.