State Securities Commission: Upgrading is the beginning of a new development phase

(Chinhphu.vn) - According to the State Securities Commission (SSC), this event is an important milestone marking the strong development of the Vietnamese stock market, recognizing the comprehensive reform efforts in recent times of the entire securities industry in accordance with the Party and State's policies to develop a transparent, modern, and effective stock market according to the highest international standards.

"The results achieved are thanks to the strong direction of the Government, the Prime Minister, the Ministry of Finance ; the close coordination of the State Bank and relevant ministries and branches; the accompaniment of the Stock Exchanges, VSDC, market members, news agencies, and the press; as well as the valuable support from the World Bank, experts from FTSE Russell and global investment institutions," the State Securities Commission's statement emphasized.

The upgrade is the beginning of a new phase of development.

The State Securities Commission also affirmed that the upgrade is the beginning of a new development phase, requiring deeper and broader reforms to achieve long-term goals in the future. As the state management agency for securities and the securities market, the agency said it will continue to closely coordinate with FTSE Russell to ensure the official transition process follows the roadmap.

"The State Securities Commission is committed to continuing to implement comprehensive solutions to create maximum conditions for domestic and foreign investors to access the market; at the same time, perfecting the legal framework, modernizing and digitizing the infrastructure, aiming to develop the Vietnamese stock market to be increasingly transparent and effective, promoting deeper integration into the global financial market," said the market operator.

What do securities companies say?

Immediately after the upgrade announcement from FTSE Russell, many securities companies spoke out about this event.

SSI Securities Company said FTSE Russell has just officially announced the classification of Vietnam's stock market from Frontier Market to Secondary Emerging Market, effective from September 21, 2026.

According to SSI, this is the result of the efforts and determination of management agencies and market members in market development, approaching international standards and attracting institutional investment capital.

"Although there are still some issues that need to be addressed before Vietnamese stocks are officially included in the FTSE Emerging Markets Index in September 2026, SSI believes that the issues under consideration are highly feasible to be implemented before the FTSE assessment deadline. In fact, resolving these issues will create a favorable, transparent legal environment, better supporting the operations of market members," SSI said.

The securities company stressed that upgrading Vietnam to an emerging market is not a destination, but a starting point for deeper integration with the global financial system. This is the result of substantial coordination between FTSE Russell and Vietnamese regulators on the journey towards a developed capital market, serving Vietnam's long-term economic development goals.

Meanwhile, Vietcap Securities Company wrote: "FTSE Russell announced its decision to upgrade Vietnam to a secondary emerging market (in line with our expectations) after Vietnam was on the watchlist for upgrade since September 2018."

According to Mr. Anthony Le, Deputy Director of Institutional Brokerage Department at Vietcap: "With this decision, Vietnam is now placed in the same category as larger markets such as China, India, Saudi Arabia and Indonesia."

Vietcap believes that this historic milestone not only demonstrates the determination of the State Securities Commission to meet the FTSE Russell index criteria, but also signals a new era of growth potential for the Vietnamese market. The upgrade will facilitate access to the Vietnamese market for a new group of investors – investors who were previously restricted from investing in this country. According to international securities companies, net investment flows from foreign investors could reach 6-8 billion USD or even 10 billion USD (in a positive scenario). These estimates include capital flows from both active and passive funds, of which capital flows from active funds account for the majority."

Vietnam’s reclassification to secondary emerging market status will take effect on Monday, September 21, 2026, subject to the outcome of the mid-term review in March 2026. The implementation is expected to be phased in. Further details will be announced in the FTSE Mid-Term Review March 2026 announcement, which is expected to be released in early April 2026.

Source: https://baochinhphu.vn/uy-ban-chung-khoan-nha-nuoc-viec-nang-hang-la-khoi-dau-cho-giai-doan-phat-trien-moi-10225100806255891.htm