Its price earnings ratio (P/E) as of August 31 was 14.7 as against 27.3 for S&P500 Index in the U.S. and 21.3 for Thailand SET Index’s, the company, which has profiles in Iraq, Uzbekistan and Vietnam, said.The P/E index reflects how much investors are willing to pay today for future growth expectations.AFC said while U.S. stock market valuations are currently far away from tracking the real economy, and challenges remain for Europe’s expectations for a V-shaped recovery, the Vietnamese economy is doing much better than many others.Its main economic drivers such as exports are already showing growth again, while most other countries are facing sharply lower trade figures, it said.Vietnam’s exports rose 6.5 percent month-on-month and 2.5 percent year-on-year in August to $26.5 billion, according to the General Statistics Office.The government is also considering public investment as a key solution to drive economic recovery.It plans to spend nearly VND700 trillion ($30.2 billion) this year including on major infrastructure works such as the North-South Expressway, Long Thanh International Airport and My Thuan–Can Tho Expressway.”Vietnam looks markedly undervalued relative to other markets – in terms of both relative and absolute valuations – especially when taking into consideration its stable currency, expected positive… Read full this story
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