Nearly 540 million VAB shares of VietABank are officially listed and begin trading on the Ho Chi Minh Stock Exchange from July 22, 2025. (Photo: VNA)

FTSE Russell on early October 8 (Ha Noi time) announced that Viet Nam will be reclassified from frontier to secondary emerging market status, in its September 2025 Country Classification Review.

The upgrade is expected to take effect on September 21, 2026, subject to an interim assessment in March 2026 to confirm Viet Nam’s progress in improving market access through global brokers.

In his official dispatch on this issue, signed the same day, PM Chinh affirmed that this move is one of the key milestones in the more than 25-year development journey of Viet Nam's stock market, creating a great opportunity for the country to attract foreign capital and increasingly integrate into the international financial system.

The Government acknowledges the reform efforts of the entire securities industry in implementing solutions to develop a transparent, modern, and efficient stock market, in line with international standards, following the guidelines and policies of the Party and State, as well as the management of the Government and the Prime Minister, he stressed.

He requested the Ministry of Finance to coordinate with relevant agencies to promptly and effectively implement the project to upgrade the Vietnamese stock market, which was approved in Decision No. 2014/QD-TTg dated September 12, 2025, by the Prime Minister.

It was required to direct the State Securities Commission to continue close cooperation with FTSE Russell to ensure the official transition follows the established roadmap; coordinate with the State Bank of Viet Nam (SBV), relevant ministries, and agencies to continue implementing comprehensive measures to maximise convenience for both domestic and foreign investors to access the market.

Additionally, it is necessary to proactively continue to refine the legal framework, reform administrative procedures, modernise and digitise market infrastructure, improve corporate governance, strengthen supervision, and ensure security, safety, and market stability. Any practices such as stock manipulation, price pushing, or market distortion for personal gain will be strictly prohibited and thoroughly investigated and dealt with, he noted.

The SBV should proactively coordinate closely with the Ministry of Finance, the State Securities Commission, and other relevant agencies to swiftly complete the legal framework and technical infrastructure to urgently implement the Central Counterparty Clearing (CCP) mechanism for the cash market by early 2027, ensuring safe and smooth operation in securities clearing and settlement.

It was also requested to study and carry out foreign exchange risk hedging products for foreign investors to mitigate currency exchange rate fluctuations.

Meanwhile, relevant ministries and agencies were ordered to coordinate with the Ministry of Finance to review the list of conditional business sectors, consider and propose expanding or removing restrictions on foreign ownership in sectors unrelated to national security as per regulations, promoting an improved investment environment, and enhancing the attractiveness of the Vietnamese capital market, thus contributing to the rapid and sustainable economic development.