Speaking at the recent Vietnam Investment Forum 2026, Pham Thi Thuy Linh, head of market development at the State Securities Commission (SSC), said the country’s recent upgrade by FTSE Russell from frontier to secondary emerging status - effective September 2026 pending a mid-term review in March 2026 - was “just the beginning,” adding that Vietnam now needs to align more closely with international standards.

Pham Thi Thuy Linh, head of market development at the State Securities Commission (SSC). Photo courtesy of VietnamBiz.

The SSC is preparing a series of initiatives to expand market participation. In the next two months, it expects to issue guidance revising regulations to let foreign investors place orders through global brokerage firms.

The regulator is also reviewing rules to raise foreign ownership limits and encourage IPO-linked listings under Decree 245, which simplifies administrative procedures for companies joining the bourse.

A key proposal under preparation is a government decree setting out listing criteria for innovative startups - companies that often post large revenues but lack profits due to heavy technology investment. Linh said flexible criteria are needed to help these firms access capital markets.

Vietnam also plans to develop new derivatives, including index options and green bond futures, and to accelerate frameworks for carbon trading and tokenized assets, with the carbon exchange expected to launch in 2026.

Nguyen Son, chairman of the Vietnam Securities Depository and Clearing Corporation (VSDC), said major infrastructure upgrades - such as the KRX trading system, central counterparty (CCP) clearing, and straight-through processing (STP) with foreign banks - are being implemented to meet upgrade conditions. The CCP system’s first phase is slated for launch in early 2027.

Nguyen Son, chairman of the Vietnam Securities Depository and Clearing Corporation (VSDC). Photo courtesy of VietnamBiz.

Regulators are also considering midday trading sessions to align with global markets and boost liquidity.

With stable macroeconomic policies and stronger market infrastructure, officials hope these reforms will draw sustained capital inflows, paving the way for a breakthrough year in 2026 for Vietnam’s stock market.