In just the first 3 months of 2025, the Vietnamese stock market witnessed an unprecedented period of "discharge". In the first quarter of 2025, foreign investors net sold approximately VND26 trillion, equivalent to more than 1 billion USD, withdrawn from the Vietnamese stock exchange. This net selling force is equivalent to 20% of the total net selling value for the whole year of 2024 and is almost equal to the whole year of 2023.
At the press conference for the first quarter of 2025 organized by the Ministry of Finance, answering a reporter's question from Lao Dong Newspaper, Mr. Ha Duy Tung - Vice Chairman of the State Securities Commission - informed that in the morning trading session of the same day alone, the net selling value of foreign investors reached more than 3,000 billion VND.
Mr. Tung said: This morning's market was affected by the new tax policy of the Trump administration. This development may continue, depending on the implementation policy in the United States and the operational response in other countries, including Vietnam.
However, according to Mr. Ha Duy Tung, as of the end of February 2025, the total net selling value only accounted for about 1.9% of the foreign portfolio - which is considered a relatively small proportion.
Regarding the market upgrade roadmap, a representative of the State Securities Commission said that the Ministry of Finance has recently completed many legal frameworks and policies to meet the criteria of an international rating agency. At the end of last year, the Ministry issued Circular 68 - a document that received positive feedback from investors.
"In terms of legal system, we basically meet the requirements. However, the upgrade depends on the sense and evaluation from the investor itself. Therefore, in the coming time, the Ministry of Finance will continue to handle technical issues, promote investment promotion, improve the experience of investors to get closer to the upgrade goal," Tung said.
Sharing more, Deputy Minister of Finance Nguyen Duc Chi said that the activities of foreign investors always change - "when withdrawing, when putting money in". In the first quarter alone, capital flows fluctuated more strongly than usual, due to the influence of many factors, including investment strategy, fund policy and market sentiment.
"We have met legal criteria, ensured transparency, and created favorable conditions for foreign investors. However, the ranking still depends on the subjective assessment from international organizations. The ultimate goal is to develop the Vietnamese stock market in a practical, stable and sustainable direction. When reaching that quality, upgrading will be an inevitable change," Mr. Nguyen Duc Chi emphasized.
