Minister of Finance: Upgrading securities opens a new stage of quality development

VTV.vn - On October 8, FTSE Russell officially announced the upgrading of Vietnam's stock market from "frontier market" to "secondary emerging market".

Upgrading is a journey, not a destination

Speaking about this event, Minister of Finance Nguyen Van Thang said that the official recognition and upgrade of FTSE Russell is the result of the correct policy and strong determination of the Government, the close coordination of the State Bank and ministries, branches, the companionship of market members, as well as the valuable support of the World Bank, FTSE experts and global investment institutions.

The Minister emphasized that the upgrading of Vietnam's stock market is an important milestone in its development journey over the past 25 years.

"FTSE's official upgrade not only opens up great opportunities to attract foreign investment capital, but also demonstrates Vietnam's correct development path and increasingly deep integration capacity into the international financial system," the Minister emphasized.

Minister of Finance Nguyen Van Thang emphasized that upgrading the stock market is a development journey, not a destination.

Responding to the market development orientation after the upgrade, Minister Nguyen Van Thang said that upgrading is not a destination but a journey to develop the Vietnamese stock market to grow with quality, transparency and sustainability.

"FTSE's official announcement of the upgrade today is only the initial result; we have many higher goals and need to implement them more seamlessly and decisively," said the Minister.

According to the Minister, this upgrade is the result of a series of reforms from the legal framework, technological infrastructure, product and service quality to the behavior of the investing public, marking a comprehensive transformation in quality and integration.

In the Project to Upgrade the Vietnamese Stock Market, the goal set is not only to maintain the "secondary emerging market" rating of FTSE Russell, but also to meet MSCI's criteria and move towards the "high-level emerging market" group by 2030.

"Vietnam's capital market and stock market will witness qualitative changes. Not only will it welcome high-quality foreign capital flows, the market will also require higher standards of corporate governance and transparency. This is the driving force for management agencies, businesses and investors to improve and contribute more strongly to the economy ," said Minister Nguyen Van Thang.

Become the main capital mobilization channel of the economy

Sharing about the upcoming orientation, Minister Nguyen Van Thang emphasized that the strategy for developing the Vietnamese stock market until 2030 has clearly defined the goals: Stable, safe, healthy, effective, sustainable development and international integration. Becoming the main medium and long-term capital mobilization channel for the economy. At the same time, focusing on developing green finance, sustainable finance and promoting digital transformation.

Accordingly, the Ministry of Finance will direct the State Securities Commission and relevant units to continue perfecting the legal framework, promoting modernization and digitalization of market infrastructure, creating maximum convenience for domestic and foreign investors, and building a transparent, efficient, and modern stock market according to leading international standards.

"The Ministry of Finance hopes to continue receiving the leadership attention of the Party and State, the effective coordination of ministries, branches, international organizations and market members... so that the Vietnamese stock market can not only maintain its current ranking but also reach higher standards, becoming the main capital mobilization channel for economic development in the new era," Minister Nguyen Van Thang shared.

Source: https://vtv.vn/bo-truong-bo-tai-chinh-nang-hang-chung-khoan-mo-ra-giai-doan-phat-trien-moi-ve-chat-100251008161913739.htm