The dispatch, signed following the October 8 announcement, noted that FTSE Russell affirmed that the Vietnamese stock market has met all necessary criteria to be classified as a secondary emerging market under the FTSE Equity Market Classification Framework. This decision marks an upgrade from its previous frontier market status.
To ensure continued strong, transparent, effective, modern, and sustainable development of the Vietnamese stock market towards achieving higher international standards and serving as a key medium and long-term capital mobilization channel for national economic growth, the Prime Minister requested the Ministry of Finance to lead and coordinate with relevant agencies in urgently and effectively implementing the approved Project on Upgrading the Vietnamese Stock Market.
The Ministry of Finance was also instructed to direct the State Securities Commission to maintain close coordination with FTSE Russell to guarantee the smooth and timely execution of the official transition process in line with the established roadmap.
Furthermore, the Ministry of Finance is to collaborate with the State Bank of Vietnam, as well as other relevant ministries and agencies, to comprehensively implement synchronized measures aimed at facilitating market access for both domestic and foreign investors. This includes continuously improving the legal framework, reforming administrative procedures, modernizing and digitizing market infrastructure, enhancing corporate governance, strengthening supervision, and ensuring security, safety, and market stability. These efforts are intended to foster a more transparent, efficient, and globally integrated Vietnamese stock market.
The Prime Minister also emphasized the strict prohibition and inspection of any manipulative activities such as artificial price inflation, market distortion, or profiteering, and called for severe penalties for such violations.
The State Bank of Vietnam is tasked with working closely with the Ministry of Finance, the State Securities Commission, and other relevant bodies to finalize the legal framework and technical infrastructure necessary to launch the Central Counterparty mechanism for the underlying stock market by early 2027. This mechanism aims to ensure safe and seamless clearing and settlement of securities transactions.
In addition, the State Bank is directed to develop foreign exchange risk-hedging instruments for foreign investors and instruct commercial banks and foreign bank branches to implement new regulations to shorten account opening procedures for indirect investment and payment accounts.
Relevant ministries and agencies are also required to collaborate with the Ministry of Finance to review conditional investment and business sectors, and to study proposals for expanding or lifting foreign ownership limits in industries unrelated to national security. These measures are expected to enhance the investment environment, increase the attractiveness of Vietnam’s capital market, and contribute to rapid and sustainable economic growth.
