Vietnam stocks likely to be upgraded in September

(Dan Tri) - The leader of the Securities Commission said that the Vietnamese stock market is likely to be upgraded in the September assessment period. However, upgrading is important, but maintaining the ranking afterwards is even more difficult.

Information related to the roadmap for upgrading the stock market was presented at the Ministry of Finance ’s regular press conference for the second quarter on the afternoon of July 2. Mr. Hoang Van Thu, Vice Chairman of the State Securities Commission, said that Vietnam aims to strive to upgrade the market this year.

"The Securities Commission has made efforts to perfect the legal and technical framework, as well as contact with rating organizations and foreign investors to share the current situation and development level of the market," said Mr. Thu.

In terms of legal aspects, the Ministry of Finance has issued a number of documents such as Circular 68 on non-margin trading activities, which have been highly appreciated by foreign institutional investors.

"Circular 68 is just a premise for a bigger step of establishing a central clearing mechanism. We are trying to complete it," said Mr. Thu. The Ministry of Finance has also issued Circular 18, amending Circular 119 as well as Circular 96 to be compatible with the upgrading goal.

Vietnam's stock market is expected to be upgraded in September (Photo: Hai Long).

The leaders of the Securities Commission also noted that the KRX system has been operating safely and smoothly, with no recorded problems so far.

The Committee has coordinated with the State Bank to issue Circular 03 to simplify administrative procedures for foreign investors, especially in opening trading accounts.

The Ministry of Finance and the Securities Commission are also urgently amending and supplementing Decree 155, aiming to clearly stipulate and institutionalize new contents in the spirit of Securities Law No. 56. In particular, the key point is to affirm that the central clearing model applies not only to derivative securities but also to the underlying securities market.

Another content being adjusted is the regulation on foreign ownership ratio in listed organizations stated in Decree 155.

Mr. Thu emphasized that the amendment aims to clearly demonstrate Vietnam's openness, transparency and equality towards foreign investors, in line with the Government 's strategic orientation.

Technically, the Securities Commission has deployed supporting solutions such as designing a master account in clearing to facilitate the operations of foreign investment funds.

"We also strengthen dialogue with international investors through investment promotion delegations. Deputy Minister Nguyen Duc Chi has also directly participated in a number of important working delegations. We also closely coordinate with the World Bank and rating organizations, updating information and reform efforts of Vietnam," said Mr. Thu.

From the management agency's perspective, Mr. Thu said that Vietnam's stock market is likely to be upgraded in the September review this year.

However, Mr. Thu added that while being upgraded is important, maintaining the ranking afterwards is even more difficult. Therefore, all reforms aim at sustainability, longevity and meeting the real expectations of investors.

The Government Office previously issued Document 5981 conveying the direction of Deputy Prime Minister Ho Duc Phoc regarding upgrading the Vietnamese stock market.

According to the document, the Ministry of Finance needs to urgently implement improvement solutions to meet the criteria for upgrading the stock market as recommended by rating organizations, while focusing on thoroughly resolving existing difficulties and problems. The implementation results must be summarized and reported in July.

The Ministry is required to take the lead in working specifically with the rating organization FTSE Russell and investment organizations to agree on the time, composition and content of the working session with Government leaders.

The Ministry of Finance is also assigned to urgently complete the draft Decree amending and supplementing a number of articles of Decree No. 155/2020. The synthesis, reception and explanation of opinions of Government members must be completed and the report submitted before July 3.

Source: https://dantri.com.vn/kinh-doanh/chung-khoan-viet-nam-co-kha-nang-duoc-nang-hang-trong-thang-9-20250702214008050.htm