Highlights of Vietnam's stock market after 25 years

(NLDO)- From 2 initial listed enterprises, after 25 years of development, Vietnam's stock market has 1,600 enterprises, and the transaction value has increased 390 times.

On July 28, the Ho Chi Minh City Stock Exchange (HoSE) solemnly held a ceremony to celebrate the 25th anniversary of the Vietnamese stock market, an important milestone marking the remarkable growth of the country's capital market.

Deputy Prime Minister Ho Duc Phoc and delegates attending the celebration - Photo: VGP/Tran Manh

Vietnam Stock Market 25 Years of Development

Speaking at the ceremony, Ms. Nguyen Thi Viet Ha, Acting Chairwoman of HoSE, looked back on the journey from the first humble steps of the market. In 2000, the market had only 2 listed enterprises with a total capitalization of VND986 billion, equivalent to 0.28% of GDP, in the context of rudimentary infrastructure.

25 years later, the market has transformed into an indispensable pillar of the national financial system, with an increasingly complete and transparent legal framework and modern technology system.

Market capitalization currently reaches about 73.5% of GDP, with more than 1,600 enterprises listed and registered for trading on HoSE, HNX and UPCoM.

Ms. Nguyen Thi Viet Ha, Acting Chairwoman of HoSE, speaking

Not only expanding in scale, the Vietnamese stock market also shows its persistence in liquidity. The average trading value in the 2021-2025 period reached more than VND 21,500 billion/session, 4.5 times higher than in the 2015-2020 period and increased more than 390 times compared to the first years of operation. In particular, in the first months of 2025, liquidity continued to break out, reaching VND 23,250 billion/session, the highest level in the ASEAN region.

Along with that development is the explosion in the number of investors. From only 3,000 trading accounts 25 years ago, the market has now attracted more than 10 million accounts, a clear demonstration of the growing appeal of the capital market.

With a target of 11 million accounts by 2030, many are optimistic that this milestone will be achieved sooner than expected.

Ms. Nguyen Thi Mai Thanh, Chairwoman of the Board of Directors of Refrigeration Electrical Engineering Corporation (REE)

Attending the ceremony, Ms. Nguyen Thi Mai Thanh, Chairwoman of the Board of Directors of Refrigeration Electrical Engineering Corporation (REE), one of the first two enterprises listed on the Vietnam Stock Exchange, shared about the development journey associated with the stock market. After more than 30 years since equitization with a charter capital of only VND 16 billion, REE now has a capitalization of up to VND 36,000 billion.

According to Ms. Thanh, the stock market is not only a place to raise capital but also a launching pad for businesses to reach new heights. In the coming period, REE aims to pioneer in the energy sector, part of a long-term strategy that the company is committed to focusing all resources on to successfully implement.

Mr. Don Lam, CEO and Founding Shareholder of VinaCapital Group,

From the perspective of an institutional investor, Mr. Don Lam, CEO and founding shareholder of VinaCapital, affirmed the essential role of long-term investment funds in accompanying Vietnamese enterprises.

He shared that from the very first days, VinaCapital has strategically accompanied many large enterprises such as Vinamilk, FPT , Hoa Phat... These investments not only help strengthen the financial foundation but also promote domestic enterprises to reach out to the international market.

He emphasized that developing a domestic investment ecosystem is a key condition to effectively mobilize domestic resources, reduce dependence on foreign capital, and gradually move towards sustainable national financial autonomy.

Launch of new IT system KRX

In this context, the launch of the new KRX information technology system is considered a fundamental step forward. Mr. Luong Hai Sinh, Chairman of the Board of Members of the Vietnam Stock Exchange (VNX), emphasized that KRX will help improve operational efficiency, support the implementation of new financial products, thereby increasing competitiveness and attracting international capital flows.

Mr. Luong Hai Sinh - Chairman of the Board of Members of Vietnam Stock Exchange

Speaking at the ceremony, Minister of Finance Nguyen Van Thang expressed that a quarter of a century, although not too long, is a journey of building and developing the Vietnamese stock market with courage and perseverance, from the beginning to the standard of a high-level market of the country's economy.

The Vietnamese stock market has demonstrated its role and effective contribution in each stage of the country's economic development; thereby affirming itself as an important medium- and long-term capital channel for the economy and enterprises.

"These achievements are clear evidence of the correct policies and guidelines of the Party and State, the close guidance of the Government, the effective coordination of ministries, departments, branches and localities, domestic and international organizations... and the tireless efforts of generations of leaders, cadres, workers in the Securities sector and market members" - Minister Nguyen Van Thang emphasized.

Minister of Finance Nguyen Van Thang

Promoting the achieved results and with the highest determination to complete the goals and tasks assigned by the Government, in the coming time, Minister of Finance Nguyen Van Thang requested the entire securities industry to resolutely implement the following key tasks:

Firstly, continue to build and perfect a synchronous legal framework in line with international practices, ensuring market stability, transparency and efficiency.

Second, organize the market to operate safely, stably and effectively; reform administrative procedures, create favorable conditions for organizations and individuals to participate in the market; improve management capacity, quality of supervision, inspection, examination, and strictly handle violations, in order to enhance transparency and market discipline.

Third, continue to effectively restructure the pillars of the market, increase institutional investors, improve the quality of goods, diversify products and services in the stock market, and meet the diverse needs of the market and investors.

Fourth, promote digital transformation and modernize information technology infrastructure, both effectively serving state management and meeting market development requirements in the new period.

Fifth, strengthen information dissemination and knowledge training for investors; promote comprehensive and in-depth international cooperation, enhance the position of the Vietnamese stock market, especially drastically and synchronously deploy solutions to soon upgrade the Vietnamese stock market from a frontier market to an emerging market, thereby strongly attracting domestic and foreign investment capital.

Ms. Vu Thi Chan Phuong, Chairwoman of the State Securities Commission

Ms. Vu Thi Chan Phuong, Chairwoman of the State Securities Commission, affirmed that the industry will continue to strongly innovate in management, perfect the legal framework, promote digital transformation, tighten discipline and enhance the protection of investors’ rights. The ultimate goal is still to create a transparent, efficient, highly competitive and deeply integrated stock market.

Mr. Eunbo Jeong - Chairman of the Board of KRX members, said

From an international perspective, Mr. Eunbo Jeong, Chairman of the Board of Members of KRX, expressed his joy at witnessing the remarkable growth of the Vietnamese stock market. He affirmed that after the success of technological cooperation, Korea will continue to be a reliable partner accompanying the Vietnamese capital market in the great strides ahead.

Source: https://nld.com.vn/nhung-diem-nhan-cua-thi-truong-chung-khoan-viet-nam-sau-25-nam-196250728142715715.htm