Minister of Finance: The stock market will change in quality

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

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

“It can be said that the upgrading of the Vietnamese stock market is an important milestone in the development journey of over 25 years. The official upgrading of FTSE not only opens up great opportunities to attract foreign investment capital, but also proves the right development path and the increasingly deep integration capacity of Vietnam into the international financial system,” the Minister emphasized.

Regarding the market development orientation after the upgrade, Minister Nguyen Van Thang said: “Upgrading is not a destination but a journey to develop the Vietnamese stock market to grow in 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 consistently and decisively.”

Bộ trưởng Bộ Tài chính: Thị trường chứng khoán sẽ thay đổi về chất - 1 — Minister Nguyen Van Thang (Photo: Ministry of Finance).

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 Vietnam's Stock Market, the goal set is not only to maintain the secondary emerging market ranking of FTSE Russell but also to meet MSCI's criteria and move towards the group of high-level emerging markets by 2030.

“Vietnam’s capital market and stock market will witness a qualitative change. 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 the Minister.

Sharing about the upcoming orientation, Minister Nguyen Van Thang emphasized: “The strategy for developing the Vietnamese stock market until 2030 has clearly defined the goal: developing a stable, safe, healthy, efficient, sustainable and internationally integrated stock market; 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”.

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 the 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://dantri.com.vn/kinh-doanh/bo-truong-bo-tai-chinh-thi-truong-chung-khoan-se-thay-doi-ve-chat-20251008160918215.htm