Aiming to increase foreign investment attraction and expand access opportunities to the Vietnamese stock market for international organizations and individuals, the Ministry of Finance has just submitted to the Government Decree No. 245/2025/ND-CP dated September 11, 2025 amending and supplementing a number of articles of Decree No. 155/2020/ND-CP.
Many important changes
The issuance of Decree No. 245/2025/ND-CP dated September 11, 2025 amending and supplementing a number of articles of Decree No. 155/2020/ND-CP detailing the implementation of a number of articles of the Securities Law is an important solution, creating a legal foundation and favorable mechanism to promote foreign capital flows into Vietnam, thereby increasing resources for the country's economic development in the new period.
The notable point of this Decree is to create favorable conditions for foreign investors to participate more deeply in the Vietnamese securities market. The Decree supplements regulations on the recognition of professional securities investor status for individuals with foreign nationality and organizations established under foreign law operating in Vietnam.
In addition, the procedures and documents to determine the status of professional investors are also adjusted to be compatible with papers and documents issued by foreign countries. This regulation helps foreign investors easily participate in private offerings and issuances, and at the same time encourages many international organizations to expand their investment activities in Vietnam.
According to many economic experts, another important change to increase the attractiveness of the Vietnamese stock market is the regulation to shorten the time for new securities to be offered and issued for trading on the centralized market. The Decree requires unification of IPO dossiers and listing registration dossiers, clearly regulating the order and procedures for listing shares on the Stock Exchange. Under the new regulation, the IPO process and listing registration will be considered in parallel, significantly shortening the processing time.
In particular, the time for securities to be put into trading after being approved for listing has been shortened from 90 days to 30 days. Thus, the listing process will be 3 to 6 months shorter than at present, contributing to ensuring the rights of investors and increasing the attractiveness of the offerings, especially for foreign investors who are very concerned about the time factor and liquidity of the market.
Decree No. 245/2025/ND-CP also strengthens the guarantee of the rights of shareholders who are foreign investors. Accordingly, the regulation allowing the General Meeting of Shareholders or the Charter of a public company to decide on a foreign ownership ratio lower than the maximum level prescribed by law and international commitments is abolished. With this change, foreign investors will have more opportunities to buy and sell shares, access listed enterprises, and at the same time limit risks when there are unusual events affecting the enterprise.
A notable addition is allowing foreign securities investment fund management companies to be granted two securities trading codes, one for proprietary trading activities and one for managing customer transactions. This regulation helps optimize internal management processes, while creating a basis for implementing a general trading account model according to international practices, improving management efficiency and transparency.
Enhance information transparency
Along with expanding opportunities and reducing barriers, the Ministry of Finance also focuses on enhancing information transparency to protect the interests of foreign investors. Listed enterprises and public companies are required to disclose information simultaneously in Vietnamese and English according to a roadmap, creating conditions for international investors to access information equally with domestic investors.
In addition, the Decree requires that corporate bonds offered to the public must have a credit rating, which can be used from reputable international organizations such as Moody's, Standard & Poor, and Fitch Ratings. This regulation contributes to improving transparency, approaching international standards, thereby strengthening investor confidence.
The Decree also expands the scope of organizations that can act as guarantors for payment of corporate bonds offered to the public, not only domestic credit institutions but also allowing international financial institutions to participate. This opens up more options for Vietnamese enterprises in raising capital, while increasing the confidence of foreign investors when participating in the market.
In addition, regulations on corporate governance, reporting responsibilities, information disclosure on capital use, dividend payments and shareholder rights assurance have also been amended and supplemented to limit conflicts of interest and enhance transparency. These are key factors for the Vietnamese stock market to approach international standards and meet the strict requirements of foreign investors.
The recent changes in the legal framework related to securities and stock market activities, including the issuance of Decree No. 245/2025/ND-CP, are evidence of the strong reform efforts of the management agency to open the door for international capital flows into the Vietnamese stock market, enhancing Vietnam's position on the global financial map.
PV (synthesis)Source: https://baohaiphong.vn/thu-hut-nha-dau-tu-nuoc-ngoai-vao-thi-truong-chung-khoan-viet-nam-520706.html
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