After 7 years since being included in the monitoring list, Vietnam has gradually met all the criteria set by this organization, from implementing the new KRX trading system, applying the non-pre-funding mechanism for foreign investors, to establishing a failed trading handling process.
That is the result of a long process, showing Vietnam's determination in reforming financial and securities institutions synchronously, consistently and with a strategic vision.
The upgrading shows that Vietnam has achieved a level of governance and operation according to international standards, where trust, transparency and market discipline become the foundation standard.
This is also a vivid demonstration of the operational capacity of management agencies, especially the State Securities Commission, in persistently converting international recommendations into specific actions, on schedule and with real efficiency.
Market upgrade, in essence, not only opens up opportunities to welcome passive international capital flows and proactively flow into the Vietnamese market to reach about 3 - 7 billion USD in the period after the upgrade decision takes effect. More importantly, this upgrade will elevate the national position in the eyes of global investors.
Because the stock market reflects the depth of the economy, the transparency of enterprises and the operational capacity of institutions.
From the story of upgrading FTSE, it can be seen that institutional reform and market reform always go hand in hand. Every move in the process of perfecting the legal framework, increasing transparency or reducing access barriers is an "upgrading" of oneself.
More importantly, the upgrade is not only for foreign capital, but also for the endogenous development of the Vietnamese capital market. A well-organized and transparent market will help domestic enterprises mobilize medium and long-term capital more effectively, reducing dependence on bank credit and bonds, key factors to restructure the growth model.
It can be said that each index, each international ranking scale is a measure of national management capacity in practice. And today's achievements are an affirmation that Vietnam is not only upgrading the stock market, but also upgrading institutional capacity, governance capacity and trust.
These are the basic pillars of a modern economy, helping Vietnam move closer to the goal of prosperity and high income by 2045.
