"Unleashing" legal restrictions: Triggering a wave of $40 billion IPOs.

The new regulations are creating a solid foundation, shortening listing times and opening the door to foreign capital. The Vietnamese stock market is facing a historic wave of IPOs, with expectations of raising over $40 billion.

Removing legal bottlenecks and shortening listing times are expected to be the catalyst for a wave of IPOs worth $40 billion on the Vietnamese stock market.

Entering the first half of 2026, the Vietnamese stock market is witnessing a pivotal transformation. The focus of investors is currently on the wave of initial public offerings (IPOs). The synergy between favorable macroeconomic conditions and, especially, the completion of the legal framework is creating a strong attraction for both domestic and foreign capital.

Removing bureaucratic hurdles and unlocking capital flows.

According to an updated report from the National Securities Corporation (NSI), the IPO market will maintain its boom in 2026. The core driving force comes from Government Decree No. 245/2025/ND-CP: Amending and supplementing a number of articles of Government Decree No. 155/2020/ND-CP dated December 31, 2020, detailing the implementation of a number of articles of the Securities Law. These regulations not only upgrade governance standards and information transparency but also truly open the door to access capital for businesses.

The biggest procedural bottleneck has been removed as regulators have allowed for the simultaneous registration of IPOs and listings. The listing completion time has been dramatically shortened from 90 days to just 30 days. This reform helps businesses seize opportunities to access the capital market and minimize volatility risks before shares officially begin trading.

Furthermore, the easing of foreign ownership limits in unrestricted sectors is sending positive signals. According to NSI, these "liberalizing" changes will directly enhance capital raising capacity, improve liquidity, and serve as a foundational building block for the goal of upgrading the market. The organization forecasts that the total value of IPOs in Vietnam could exceed US$40 billion between 2026 and 2028.

The convergence of "favorable timing, advantageous location, and harmonious human relations."

The history of the Vietnamese stock market has always recorded significant leaps after each major IPO, notably during the periods of 2007-2009 (associated with Vietnam's accession to the WTO) and 2016-2018 (the rise of the private banking and real estate sectors).

According to Mr. Han Huu Hau, CEO of Hy Maxpro, a securities analysis specialist, the market is at the beginning of a new wave of strong IPOs, possessing all three favorable factors: "the right time, the right place, and the right people." Vietnam has built a solid institutional foundation and economic management infrastructure, preparing for an era of growth with the goal of double-digit growth in the next five years. In particular, the qualitative change stemming from the current 12 million securities accounts (compared to 1-2 million before 2020) has transformed securities into a capital channel with a profound impact on the economy.

Dr. Tran Thang Long, Deputy General Director of BIDV Securities (BSC), emphasized that large IPOs always clearly shape the market structure. Notably, since December 2025 alone, the total capital raised through IPOs has reached VND 40,000 billion, nearly equaling the total accumulated value of the previous decade. This demonstrates that domestic and foreign investors are extremely eager to invest in new products on the VN-Index.

The pillars of privatization and the digital asset space.

The supply of high-quality goods will continue to be strongly supplemented from the state-owned economic sector in the coming period. On January 6, 2026, Resolution 79-NQ/TW was issued, further affirming the leading role of the state-owned economy. The privatization process will be accelerated to improve governance capacity, attract social resources, and ensure the State's dominant role in key sectors.

From a new perspective, NSI assesses that the digital asset sector is also opening up enormous growth potential. Along with the trend of digital transformation and the improvement of the legal framework, the size of Vietnam's digital asset market is expected to exceed $100 billion by 2030, provided that the management and supervisory mechanisms are synchronized with international practices.

With decisive restructuring of state-owned enterprises, the "loosening" of legal frameworks, and an expanded vision towards digital assets, Vietnam's capital market is poised to enter a period of rapid growth. IPOs promise to become a strategic "boost," enhancing the overall attractiveness of the financial market in this new era of development.

Source: https://thoibaonganhang.vn/coi-troi-phap-ly-kich-hoat-lan-song-ipo-40-ty-usd-182799.html