Listed Enterprises Conference 2025: 25-year milestone of the stock market and the need to raise transparency and sustainability standards

Taking place in the year of the 25th anniversary of the Vietnamese stock market and right after the market was upgraded to the secondary emerging group by FTSE Russell, the 2025 Listed Companies Conference is a place to focus on key messages on standard governance, information transparency and sustainable development of enterprises.

Ms. Nguyen Thi Viet Ha - Acting Chairwoman of Ho Chi Minh City Stock Exchange: 2025 is a special year, when the Vietnamese stock market celebrates its 25th anniversary of official operation, and is also the 25-year journey of "Enhancing value, strengthening trust" of HoSE.

25-year mark: Vietnam enters the secondary emerging market group

On December 3, 2025, the 2025 Listed Enterprises Conference, combined with the 18th Listed Enterprises Awards Ceremony (VLCA), took place in Ho Chi Minh City. Attending the event were Mr. Nguyen Duc Chi - Deputy Minister of Finance ; Ms. Vu Thi Chan Phuong - Chairwoman of the State Securities Commission; Mr. Luong Hai Sinh - Chairman of the Vietnam Stock Exchange; Mr. Nguyen Son - Chairman of the Vietnam Securities Depository and Clearing Corporation and representatives of more than 300 listed companies, securities companies, fund management companies and other financial institutions in the market.

According to Ms. Nguyen Thi Viet Ha - Acting Chairman of HoSE, 2025 is a special year, when the Vietnamese stock market celebrates its 25th anniversary of official operation, and is also the 25-year journey of "Enhancing value, strengthening trust" of HoSE. More specifically, this year's Listed Enterprises Conference is held in Ho Chi Minh City - where HoSE was born and witnessed the first trading sessions of the market 25 years ago.

Through the process of formation and development, from the initial modest steps, the market has now undergone a strong transformation. On May 5, 2025, HoSE officially put the KRX system into operation, becoming a new information technology system for the entire Vietnamese stock market, opening up many opportunities to approach the international market more deeply.

As of November 30, 2025, the total capitalization of Vietnam's stock market will reach 390.25 billion USD, equivalent to 81.93% of GDP in 2024. On the HoSE floor alone, the capitalization value of listed stocks will reach 310.25 billion USD, equivalent to 65.14% of GDP in 2024, accounting for 94.41% of the total capitalization value of listed stocks in the whole market. Currently, HoSE has 50 listed enterprises with capitalization of over 1 billion USD, of which 03 enterprises have capitalization of over 10 billion USD.

As of November 30, 2025, the total capitalization of Vietnam's stock market will reach 390.25 billion USD, equivalent to 81.93% of GDP in 2024. On the HOSE floor alone, the capitalization value of listed stocks will reach 310.25 billion USD, equivalent to 65.14% of GDP in 2024, accounting for 94.41% of the total capitalization value of listed stocks in the whole market. Currently, HOSE has 50 listed companies with capitalization of over 1 billion USD, of which 3 companies have capitalization of over 10 billion USD.

Market liquidity continues to be a bright spot as the average trading value in the first 11 months of 2025 remains at nearly 1 billion USD per session. These figures clearly demonstrate the increasingly important role of the stock market as an important medium- and long-term capital channel for the economy , thereby supporting businesses to expand their scale, improve their competitiveness and contribute positively to the overall development of the country.

2025 is also a proud milestone, when market rating organization FTSE Russell announced that Vietnam's stock market has met all official criteria and been upgraded from a frontier market to a secondary emerging market.

2025 is also a proud milestone, when the market rating organization FTSE Russell announced that the Vietnamese stock market has met all the official criteria and been upgraded from a frontier market to a secondary emerging market. This is considered a decisive step, opening up space to attract large-scale, stable and long-term international capital flows for the Vietnamese capital market in the coming period.

In that context, Vietnam's capital market is identified as entering a new development cycle with higher requirements on transparency, governance and sustainable development, in line with its position as an emerging market in the region.

Overview of the Conference.

Sharp increase in number of participants in the Listed Enterprise Vote

Along with the market's 25-year journey, the Vietnam Listed Enterprises Awards (VLCA) has entered its 18th year and has become a prestigious annual award, honoring leading enterprises in governance practices, information transparency and sustainable development.

Along with the market's 25-year journey, the Vietnam Listed Enterprises Awards (VLCA) has entered its 18th year and has become a prestigious annual award, honoring leading enterprises in governance practices, information transparency and sustainable development. VLCA 2025 continues to be held with 3 main voting categories including: Annual Report, Corporate Governance and Sustainable Development Report.

This year’s Annual Report category attracted a sharp increase in the number of interested businesses participating with 122 businesses (up 27% over the same period last year). Notably, there were 42 businesses participating for the first time, accounting for 34% of the total number of registrations. This is a document that investors, especially foreign investors, are interested in when evaluating the level of transparency and development potential of businesses.

The Corporate Governance category continues to be considered a “test of governance capacity” for the Vietnamese listed business community. In 2025, the assessment criteria will be updated to encourage businesses to apply more of the latest practices according to the OECD Corporate Governance Principles (October 2023). A very notable point in this year's voting season is that the rate of businesses disclosing information in English has increased sharply to 81%, creating favorable conditions for foreign investors to access, analyze and evaluate the Vietnamese market.

With the mission of assessing how businesses disclose information on sustainable development, this year's Sustainability Report category has been "upgraded" to be more in-depth, with grouping according to the characteristics of the Financial and Non-Financial sectors, adding specialized criteria, and updating according to the guidelines of the Global Reporting Initiative (GRI) and the orientation of IFRS S1 & S2.

Raising information disclosure standards: The foundation for safe and sustainable market operations

In the period 2025-2030, when the Vietnamese capital market enters a new development cycle with higher requirements for transparency, sustainability and deep integration, enterprises that maintain stable quality through many VLCA seasons are considered to have a governance and information disclosure platform approaching international standards, thereby increasing the ability to attract foreign capital flows and investment funds according to ESG standards.

The Organizing Committee said that the sustainable development of the Vietnamese stock market over the past 25 years has been achieved thanks to the support of the listed business community, securities companies, investment funds, consulting and auditing organizations, management agencies and market organizations. This is an important support to help the market maintain information disclosure discipline and gradually improve governance standards according to international practices.

In the new development phase, HoSE commits to continue improving the quality of market management and supervision, promoting the development of technology infrastructure, proactively updating international standards, and accompanying and supporting listed enterprises and market members in the process of transformation according to governance standards, transparency and sustainable development.

The overarching goal is to build a transparent - modern - integrated - sustainable Vietnamese stock market, creating a foundation for the market to operate safely and effectively in the "game" of emerging markets.

Source: https://nhandan.vn/hoi-nghi-doanh-nghiep-niem-yet-2025-dau-moc-25-nam-thi-truong-chung-khoan-va-yeu-cau-nang-chuan-minh-bach-ben-vung-post927697.html