Vietnam congratulated as an emerging market

September 21, 2026 | 16:14

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Vietnam’s elevation to FTSE Russell’s Secondary Emerging Market marks a hard-earned recognition of the country’s economic progress and the growing maturity of its capital market.

On September 21, FTSE Russell’s decision to upgrade Vietnam to Secondary Emerging Market status took effect. Vietnam’s journey has been a long and determined one, spanning nearly a decade of efforts to address institutional and trading infrastructure issues.

The achievement reflects substantive cooperation between FTSE Russell and Vietnamese regulators in working towards a more developed capital market that can better support Vietnam’s long-term economic development objectives. With a significantly larger number of investors tracking FTSE Russell indices in the emerging market category than in the Frontier Market category, capital flows into Vietnam are expected to strengthen, including both active and passive investment.

The long journey to achieving emerging market status under FTSE Russell’s framework underscores that the upgrade is not an end in itself, but the beginning of a broader and longer-term process of market development. Under the government’s market-upgrading roadmap, Vietnam aims by 2030 to meet MSCI’s criteria for emerging market status and FTSE Russell’s criteria for Advanced Emerging Market status.

With continued efforts by regulators to engage with market participants and index providers, alongside the growing maturity of Vietnam’s investor base, the country’s stock market is poised to make further progress on its market-upgrading journey.

Vietnam congratulated as an emerging market

NYSE congratulates Vietnam on its emerging market status. Photo courtesy of the State Securities Commission

Alex Hong

Co-head of APAC (ex China) Capital Market, New York Stock Exchange

Photo: SSI Securities

Congratulations Vietnam. This is a remarkable milestone, the result of years of disciplined reform. This wonderful achievement to the tenacity and talent of your people, the transformative vision of your government, and the trust you have earned from the global community.

Reflecting on your journey, from an agrarian economy to manufacturing powerhouse, and now a hub for technology and innovation, all within a single generation. It is hard not to be optimistic when we imagine the possibilities for the next generation. On behalf of the New York Stock Exchange (NYSE), we commend the people, the government and the businesses of Vietnam. The upgrade is not an ending; it is a gateway to deeper liquidity, enhance access to global capital, a stronger bridge between Vietnamese enterprises and global markets. We look forward to building the bridge together as Vietnam continues its trajectory as a country of consequence and a capital market of significance on the global stage.

Adena Friedman

Photo: SSI Securities

Chair & CEO, Nasdaq

On behalf of all of us at Nasdaq, congratulations to Vietnam, to the country, the market, and to the wonderful community is this historic upgrade to emerging market status. This milestone is a powerful recognition of what you have built. Years of bold reform, a robust economy, and the modernisation of Vietnam’s capital markets. Vietnam has truly become a powerhouse and the world is taking notice and this is only the beginning. Nasdaq is excited for Vietnam’s next chapter, and we look forward to supporting your continued growth in the years ahead. Congratulations Vietnam.

Julia Hoggett

Photo: SSI Securities

CEO, London Stock Exchange (LSE)

To everyone who has contributed to Vietnam’s journey, congratulations on this really significant milestone. On behalf of LSEC, I am delighted to congratulate Vietnam on this achievement. It reflects the strong leadership of the State Securities Commission and the collective efforts of market participants over many years. We look forward to seeing Vietnam’s capital markets continue to grow, attract global investors, and play an ever greater role in the global financial community in the years ahead.

Gokul Laroia

Photo: SSI Securities

CEO of Asia and co-head of Global Equities, Morgan Stanley

On behalf of Morgan Stanley, I would like to warmly congratulate Vietnam on its achievement of emerging market status. This milestone is about far more than a change in market classification. It is a powerful recognition of Vietnam remarkable economic progress and the significant development of its capital markets. The reforms implemented in recent years have strengthened market accessibility, enhanced investor confidence, and increased Vietnam’s appeal to global capital. These efforts are creating new opportunities for businesses seeking growth and for those looking to participate in Vietnam’s continued success. Congratulations once again on this landmark achievement. Morgan Stanley is proud to be a part of Vietnam’s journey, and we look forward to supporting its continued growth and development in the years ahead.

Loh Boon Chye

Photo: SSI Securities

CEO, SGX Group

On behalf of SGX Group, congratulations on Vietnam’s historic achievement of attaining emerging market status. This milestone reflects the strong leadership of the State Securities Commission and the collective efforts of market participants across the country. As Vietnam enters its next chapter, we are confident it will continue to grow and attract international capital. This is a significant moment not only for Vietnam, but for ASEAN. Stronger and more connected capital markets create greater opportunities for economies across the region. SGX Group is committed to working alongside partners in Vietnam to deepen collaboration and connectivity, while strengthening ASEAN’s position globally. Congratulations once again on this remarkable achievement.

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