Dear Deputy Minister, on October 8, 2025, the FTSE Russell market ranking organization announced that the Vietnamese stock market (TTCK) has met all official criteria and has been upgraded from a frontier market to a secondary emerging market. This is a historical milestone, opening the door to welcome large international investment capital flows. Please tell us, Deputy Minister, what management solutions will the Ministry of Finance have to maintain firm positions, manage effectively and stabilize foreign investment capital flows and continue to improve the quality of market goods?
- Implementing the Party and State's policy on developing the stock market into an important medium and long-term capital mobilization channel for the economy and strengthening international financial integration, the Ministry of Finance will continue to synchronously implement the tasks and solutions approved by the Prime Minister in the Project to upgrade the Vietnamese stock market to 2030 and related directions.
The Ministry of Finance identifies maintaining firm market positions, effectively and stably managing foreign investment capital flows, and improving the quality of goods as a continuous task, implemented synchronously across many pillars of solutions.
Accordingly, the Ministry of Finance will continue to improve the legal framework according to international standards, improve supervisory capacity, enhance information transparency, risk management and ability to respond to fluctuations in global capital flows, thereby ensuring the stability of the financial system and the stock market.
Regarding improving the quality of goods and market attractiveness, the Ministry of Finance will continue to encourage large-scale private enterprises to participate in listing, promote foreign-invested enterprises (FDI) to be listed on the Vietnamese stock market in appropriate conditions, and research and build a specialized capital mobilization market for innovative startups. In addition, continue to direct the promotion of commodity diversification for the market, research and deploy new products such as bonds to serve infrastructure development, green bonds, green financial instruments, suitable to the development level and management capacity of the market.
Along with that, the Ministry of Finance will continue to modernize market infrastructure, upgrade trading, payment, and clearing systems, promote the application of technology, ensure the safe and smooth operation of the market, approaching international practices, thereby improving capital absorption capacity and strengthening the confidence of foreign investors.
With the above synchronous solutions, the Ministry of Finance believes that the Vietnamese stock market will firmly maintain its position as an emerging market; at the same time, constantly improve quality, transparency and attractiveness, making positive contributions to Vietnam's sustainable economic growth and international financial integration in the medium and long term.
Market liquidity in 2025 improved sharply with the leadership of domestic cash flow. According to the Deputy Minister, what factors help domestic investors return and what will the Finance sector do to maintain psychological stability and capital flow for the market?
- In 2025, the stock market continued to grow the index and liquidity was outstandingly high compared to many markets in the region. VN-Index increased by 33% compared to the end of last year with an average trading value of nearly 30 trillion VND/session, an increase of 40% compared to the average of the previous year. The clear improvement in the stock market liquidity in 2025 is the result of a combination of many positive factors.
The growth engine of the market comes from a stable macroeconomic foundation, many synchronous solutions are drastically implemented by the Government such as: controlling inflation, maintaining a reasonable interest rate level, promoting public investment disbursement...; at the same time, investor confidence is also strengthened thanks to the positive business results of listed companies and clear signals about the market upgrade process.
Besides economic factors, the efforts of management agencies in completing the legal framework, modernizing transaction infrastructure with the operation of new information technology systems and market management work continue to be focused on, market discipline and order are strengthened, violations are handled strictly, creating a foundation for domestic cash flow to participate in the market more sustainably.
In the coming time, to continue to develop the Vietnamese stock market stably, safely, effectively, and sustainably, the Finance sector will continue to implement a number of key groups of solutions. In which, the focus is on completing the legal framework and improving the investment and business environment towards transparency, convenience and equality for all subjects; promoting market management and supervision activities, strengthening discipline, protecting the legitimate rights and interests of investors, especially individual investors. At the same time, developing and restructuring the investor base, developing institutional investors through the development and diversification of securities investment fund types; encouraging individual investors to participate in the market through professional investment institutions (securities investment funds) to minimize risks and improve investment efficiency.
The Ministry of Finance will continue to modernize technology infrastructure and transaction systems; diversify the commodity base in the market, develop modern financial products and services to expand investment space and manage risks more effectively.
Through those synchronous solutions, the Ministry of Finance aims not only to maintain positive liquidity in the short term, but more importantly to build long-term confidence, creating a foundation for the Vietnamese stock market to develop stably, safely and sustainably.
It is predicted that international capital sources into Vietnam through many channels, including the stock market (especially after being upgraded) and the International Financial Center, will increase sharply. What is the Deputy Minister's assessment of the ability to attract capital through these channels in 2026?
- In 2026, Vietnam's economic prospects continue to be positive with a high GDP growth target. On the basis of a solid institution and stable macroeconomics, along with positive long-term growth prospects, I believe that the ability to attract international capital into Vietnam in 2026 through many channels, especially the stock market after being upgraded and through the International Financial Center, is assessed as very positive.
The fact that the Vietnamese stock market is upgraded to a secondary emerging market will open up a stronger access to medium and long-term international indirect investment capital flows, especially from index investment funds, pension funds, insurance funds and large financial institutions. This is a group of investors with high requirements for transparency, stability and market operation standards, as well as a long-term attachment trend, which will contribute to improving the quality and sustainability of capital flows into the Vietnamese market.
In the coming time, the Ministry of Finance will continue to implement solutions to develop the stock market into an important medium and long-term capital mobilization channel for the economy; drastically implement solutions to maintain the ranking and aim for the goal of upgrading the market according to high-level standards according to the Market Upgrade Project issued by the Prime Minister.
In addition, the establishment of the International Financial Center in Vietnam on December 21, 2025 was an important milestone in the national financial development strategy, demonstrating the strong determination of the Party, State and Government in the process of deep integration with the global economy.
Thank you very much, Deputy Minister!
