Maintaining Market Status: A Challenge for Vietnam's Stock Market
By Thai Ha
The Vietnamese stock market is set for an upgrade, but maintaining this new status is a bigger challenge, according to a market watchdog official. On September 21, 2026, Vietnam's stock market classification will shift from 'frontier' to 'secondary emerging' by FTSE Russell. This upgrade is a significant milestone, but it requires continued reform and strong regulatory measures.
Hoang Van Thu, Vice Chairman of the State Securities Commission of Vietnam (SSC), emphasized the need for active cooperation from market participants. He stated that maintaining the classification will require robust regulatory reform and streamlined processes, particularly in settlement procedures. The SSC, along with stock exchanges and the Vietnam Securities Depository (VSD), has been working on reforms to align the market with international standards.
The key to success lies in ensuring the commitment and transparency of market participants, especially listed companies. The recent promulgation of Law No. 56/2024/QH15 and the subsequent Decree No. 245/2025/NĐ-CP and Circular No. 19 aim to enhance market transparency, individual accountability, and investor access. These legal documents introduce groundbreaking provisions to improve the quality of public companies and the professionalism of public offerings.
The law's three major policy breakthroughs focus on transparency and efficiency in securities offerings, strengthening market oversight, and removing practical bottlenecks. By simplifying administrative procedures, Vietnam aims to maintain its market classification and promote sustainable development.
Despite these efforts, the challenge remains to ensure the long-term sustainability of the market. Thu expressed hope that the legal framework will soon take effect, helping Vietnam's stock market align with the Party and Government's goals. This upgrade is a significant step, but it requires continued dedication and cooperation from all market participants.
