FTSE Russell adds Vietnam to Global Equity Index Series

Minister of Finance Ngo Van Tuan. Photo: Manh Tuan

The event to mark Vietnam's inclusion in the FTSE Russell Global Equity Index Series (GEIS) took place on September 18 ahead of Vietnam's stock market formally transitioning to Secondary Emerging Market status on September 21.

The conference was chaired by Minister of Finance Ngo Van Tuan and attended by British Ambassador Iain Grant Frew, State Securities Commission (SSC) chairwoman Vu Thi Chan Phuong, World Bank country director Mariam J. Sherman, FTSE Russell CEO Fiona Bassett, and representatives from ministries, financial institutions, investment funds, listed companies, global custodians, and domestic and international market participants.

In his opening remarks, Minister Tuan said the conference took place at a particularly important historic milestone for Vietnam's financial market.

"The presence of investment institutions, brokerage firms, and global custodians reflects growing interest in Vietnam's stock market," Tuan said. "Vietnam is positioning itself as a dynamic and promising investment destination for investors regionally and globally."

He added that Vietnam's capital market has remained a bright spot in recent years, supported by institutional reforms, improved market operations, and more open dialogue with the international investment community. These developments have contributed to the stability of the national financial system and become a driver of economic growth.

The legal and policy framework for the capital market has undergone significant improvements, focusing on three major pillars: improving governance quality and market discipline, while strengthening enforcement against violations; facilitating access for investors, particularly foreign investors, in line with international standards; and establishing a legal foundation for new market models and products in line with modern capital market trends.

"These are important steps towards upgrading Vietnam's stock market and developing it in a modern, efficient, and transparent direction, in line with international standards," said Tuan.

Photo: Manh Tuan

With strong commitment from the government, the Ministry of Finance (MoF), and the SSC, FTSE Russell announced in its September 2025 review that Vietnam's stock market would be upgraded from Frontier to Secondary Emerging Market status. The result was reaffirmed in the March review earlier this year.

Highlighting the significance of the achievement, Minister Tuan said, "Market upgrading is not the final destination, but a new step forward, creating higher requirements for both the market and regulators."

As financial markets in Vietnam, the region, and globally continue to evolve, Vietnam needs to remain proactive and flexible, while continuing to improve its mechanisms, policies, and market management and supervision institutions.

The government and the MoF have issued and implemented comprehensive orientations and development strategies for the capital market and stock market through 2030, with a vision to 2045. Priorities include further improving market liquidity and quality, modernising infrastructure, strengthening risk management tools, diversifying products, attracting sustainable capital flows, and enhancing market management, supervision, and openness.

These foundations are important for Vietnam to deepen its integration into international financial markets and make more effective use of international capital for investment and economic development.

The minister stated that Vietnam was ready to listen, adopt international best practices, and pursue further reforms to build a transparent, safe, efficient, and sustainably attractive capital market.

Minister Tuan performing the gong-striking ceremony to mark Vietnam's official inclusion in the FTSE GEIS emerging market index. Photo: Manh Tuan

At the conference, representatives from the MoF, the SSC, FTSE Russell, the World Bank, and international financial institutions discussed Vietnam's reform process, improvements to the legal framework, upgrades to market infrastructure, and measures to improve investor access. They also shared views on the significance of the market upgrade, as well as opportunities, challenges, and solutions for the market's development in the next phase.

A key activity at the conference was a ceremonial gong-striking event marking Vietnam's official inclusion in the emerging market segment of FTSE Russell GEIS.

The event also highlighted the 30-year development journey of Vietnam's stock market, from the gradual completion of market components, the legal framework, and technological infrastructure to continuous improvements in market access for both domestic and international investors.

The market upgrade is expected to create opportunities to attract greater international investment flows, particularly from active and passive funds that track emerging market indices. At the same time, it is expected to provide further momentum for Vietnam's stock market to improve its transparency, efficiency, and competitiveness, contributing to the development of a safe, sound, and sustainable capital market.

Minister Tuan expressed his hope that the conference would provide an open and substantive platform for dialogue, allowing regulators, international organisations, and the investment community to share perspectives, strengthen connections, and explore new opportunities for cooperation.

With the reform foundations already established and the market's latest progress, cooperation with the international financial community is expected to be further strengthened and expanded, contributing positively to the development of Vietnam's capital market.

Vietnam’s challenge to turn market reform into long-term capital According to Mickey Maini, founder of Solstice Laboratory, an independent research centre focused on markets, geopolitics and finance, following Vietnam’s market upgrade, the next challenge is to turn this upgrade into sustained capital inflows and deeper economic development.

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