Vietnam's stock market is fully capable of being upgraded in the September 2025 review.

On the afternoon of July 2, at the regular press conference of the Ministry of Finance for the second quarter of 2025, answering the press about upgrading the stock market, Vice Chairman of the State Securities Commission Hoang Van Thu emphasized that according to the Stock Market Development Strategy to 2030, Vietnam aims to strive to upgrade the market by 2025.

Deputy Minister of Finance Nguyen Duc Chi chaired a regular press conference for the second quarter of 2025. (Photo: Gia Thanh)

To realize the above goal, Mr. Hoang Van Thu said that under the direction of the Government and the Ministry of Finance, the State Securities Commission has completed the legal framework, improved techniques, and increased contact with rating organizations and foreign investors to share about the level of market development.

In terms of legal policy, the Ministry of Finance has issued a number of important documents such as Circular 68/2024/TT-BTC, especially regulations on non-margin trading for foreign institutional investors. This Circular is highly appreciated because it can help the Vietnamese stock market get closer to the upgrading standards. This is also an important preparation step for the establishment of a central clearing mechanism (CCP) - a key requirement in the process of upgrading the market.

In addition, the Vice Chairman of the State Securities Commission said that the KRX system (a new information technology system deployed in the Vietnamese stock market) has been operating safely and smoothly since May 5, with no technical problems recorded.

He said that the State Bank has coordinated and issued Circular 03/2025/TT-NHNN to simplify administrative procedures for foreign investors, especially in the notarization stage when opening a transaction account.

In addition, the Ministry of Finance and the State Securities Commission are also urgently amending and supplementing Decree 155/2020/ND-CP (issued in 2020) to clarify and institutionalize new contents in the spirit of Securities Law No. 56.

In particular, Mr. Hoang Van Thu emphasized a key point, which is to affirm that the central clearing model is not only applicable to derivative securities but also to the underlying securities market. At the same time, regulations on foreign ownership ratios at listed organizations are also being adjusted.

"This is an issue of particular concern to international investors. The amendment aims to clearly demonstrate Vietnam's openness, transparency and equality towards foreign investors, in line with the Government's strategic orientation," said the Vice Chairman of the State Securities Commission.

The State Bank has coordinated and issued Circular 03/2025/TT-NHNN to simplify administrative procedures for foreign investors, especially in the notarization stage when opening a trading account. (Photo: Trong Hieu)

Technically, the State Securities Commission has implemented support solutions such as designing a master account in clearing payments to facilitate the operations of foreign investment funds. Mr. Thu informed: "In addition to perfecting the legal and technical aspects, enhancing dialogue with international investors, through investment promotion delegations, Deputy Minister of Finance Nguyen Duc Chi has also directly participated in a number of important working delegations. At the same time, we closely coordinate with the World Bank (WB) and rating organizations, updating information and reform efforts of Vietnam.

We pay special attention to the actual experience of foreign investors in the Vietnamese market. Being upgraded is important, but maintaining the ranking after being upgraded is even more difficult. Therefore, all current reforms aim at sustainability, longevity and meeting the real expectations of investors."

From the perspective of the State Securities Commission, Mr. Hoang Van Thu affirmed that the Vietnamese stock market is completely capable of being upgraded in the September 2025 assessment period.

Recently, the Government Office has 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 will work specifically with the FTSE Russell rating organization 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, 2025.

The State Bank of Vietnam is assigned to preside over and coordinate with relevant ministries, branches and agencies to urgently review the recommendations in the document proposed by the Ministry of Finance.

The Deputy Prime Minister also requested the Ministry of Finance to proactively coordinate and work directly with the Governor of the State Bank and relevant agencies to unify the handling of issues related to the criteria for upgrading the stock market, ensuring that Vietnam is considered and upgraded on schedule.

Source: https://baoquocte.vn/thi-truong-chung-khoan-viet-nam-hoan-toan-co-kha-nang-duoc-nang-hang-trong-ky-danh-gia-thang-92025-319698.html