Finance Minister works with leaders of London Stock Exchange and FTSE Russell

Attending the working session, on the Vietnamese side, there were also Ambassador Extraordinary and Plenipotentiary of Vietnam to the United Kingdom of Great Britain and Northern Ireland, concurrently to Ireland Do Minh Hung; Ms. Vu Thi Chan Phuong, Chairwoman of the State Securities Commission; Mr. Nguyen Quoc Phuong, Director of the Department of Debt Management and External Finance; Mr. Bui Hoang Hai, Vice Chairman of the State Securities Commission; representatives of leaders of units of the Ministry of Finance , of the State Securities Commission; leaders of the Vietnam Stock Exchange (VNX), Hanoi Stock Exchange (HNX), Ho Chi Minh City Stock Exchange (HoSE), Vietnam Securities Depository and Clearing Corporation (VSDC).

On the UK side, the meeting was attended by Ms. Julia Hoggett, Chief Executive Officer, London Stock Exchange (LSE); Mr. Gerald Toledano, Head of Global Equities, FTSE Russell; Mr. David Sol, Head of Global Policy and Governance, FTSE Russell; Mr. Tom Attenborough, Head of International Business Development, LSE; Ms. Wanming Du, Head of Index Policy, FTSE Russell Asia Pacific ; Mr. Thom Abbott, Head of Southeast Asia, LSE.

At the meeting, Minister Nguyen Van Thang highly appreciated the cooperation between LSE and FTSE Russell with the State Securities Commission of Vietnam in recent times, and updated the development situation of the Vietnamese economy and stock market.

The Minister expressed his gratitude to LSE, FTSE Russell rating organization and Ms. Julia Hoggett, Mr. David Sol, and colleagues who have accompanied Vietnam in reforming the market and improving criteria to meet the requirements for upgrading the Vietnamese stock market in recent times.

Sharing more information with Ms. Julia Hoggett, the Minister said that during this working trip, Chairwoman of the State Securities Commission Vu Thi Chan Phuong will also have a direct working session with FTSE Russell to discuss issues of upgrading the Vietnamese stock market. The Ministry of Finance will also organize an Investment Promotion Conference in London in the working session on the morning of September 16 to inform investors in the London financial market about the Vietnamese financial market in the most complete way.

In addition to general information on the economic situation and the stock market, the Minister said that by the end of August 2025, the total stock market capitalization will reach nearly 352 billion USD, equivalent to 79.5% of the estimated GDP in 2024. Market liquidity has increased significantly, with some sessions having transaction values of over 3 billion USD. Since the beginning of the year, the average transaction value per session has reached over 1.1 billion USD per session, among the most active in the ASEAN region.

During the meeting, Ms. Julia Hoggett shared about the activities of the London Stock Exchange and discussed cooperation initiatives in the context of Vietnam actively implementing solutions to upgrade the stock market such as: Cooperation between FTSE Russell and the State Securities Commission to remove obstacles in upgrading criteria; Signing an MOU to cooperate in developing indexes between VNX and FTSE Russell;...

Providing more information on the issue of upgrading the stock market, Minister Nguyen Van Thang said that in recent times, the Vietnamese Government has made focused efforts to implement solutions to meet the upgrading criteria of FTSE Russell. “ We have made strong reforms and decisions by synchronously issuing many mechanisms and policies that take effect immediately to create the most favorable conditions for foreign investment capital to participate in the Vietnamese stock market,” the Minister said.

In the spirit of cooperation and sustainable development, the Minister also emphasized the proposal of a number of cooperation orientations between Vietnam and LSE in the coming time. Accordingly, Vietnam wishes to increase the exchange of experiences in building and perfecting the legal framework, market surveillance mechanisms, applying international standards on corporate governance, information disclosure and promoting sustainable growth (ESG), thereby improving transparency, safety and global integration. At the same time, Vietnam is interested in learning from the experience of developing new products to diversify securities products such as developing green bonds, sustainable bonds, and derivative securities.

The Minister also proposed promoting joint investment promotion programs and promotional activities to build and deepen connections between Vietnamese enterprises and international investors, especially in the UK and Europe.

In addition, Vietnam also hopes to receive experience sharing in training, raising market awareness, strengthening the capacity of financial and securities human resources and applying financial technology (Fintech, AI, Blockchain) to contribute to improving the efficiency of market operations.

“With close cooperation, companionship and support from LSE, the Vietnamese stock market in particular and the Vietnamese financial market in general will grow stronger and stronger, contributing positively to the common prosperity of the two countries, as well as the region and the world,” the Minister believes.

On the LSE side, Ms. Julia Hoggett expressed her high consensus and confidence in the development of the Vietnamese stock market in the coming time. LSE will continue to promote cooperation to support the Vietnamese stock market in the issue of upgrading to emerging market status. Ms. Julia Hoggett hopes that the cooperation between the two sides will have a new step of development and LSE will be an effective "gateway" for the Vietnamese market to connect with many other markets in the world.

Agreeing on the need for continuous reform and innovation, at the end of the working session, the leaders of both sides agreed to continue to strengthen cooperation in many aspects, thereby supporting the Vietnamese stock market to attract more and more international investment capital, in which Vietnam's effective reform efforts in recent times regarding upgrading, recognized by FTSE Russell, also contribute to that goal.

Memorandum of Understanding (MOU) signing ceremony between Vietnam Stock Exchange (VNX) and FTSE International Limited (FTSE)

Also at the working session, under the witness of Minister Nguyen Van Thang, Ambassador Do Minh Hung, Chairwoman of the State Securities Commission Vu Thi Chan Phuong , General Director of LSE Julia Hoggett, Director of Global Policy FTSE David Sol ; Vietnam Stock Exchange (VNX) signed a Memorandum of Understanding (MOU) with FTSE International Limited (FTSE) - officially establishing a strategic cooperation relationship to improve capital market infrastructure and promote Vietnam's international integration.

Source: https://baodautu.vn/minister-of-finance-work-with-london-stock-transaction-office-and-ftse-russell-d385806.html