Vietnam is pursuing a notable upgrade in its capital markets by adopting Resolution No. 10, targeting increased foreign portfolio investment, sustained FDI, and faster reforms to modernize stock and bond markets, intermediaries, and international market upgrades.

The country aims to secure an investment-grade sovereign credit rating from major agencies (S&P Global Ratings, Moody's, Fitch) to strengthen its capital market standing.

Industry observers emphasize attracting next-generation FDI and foreign indirect investment, expanding foreign entities’ ability to raise capital, and broadening the shareholder base to support long-term growth.

Key figures cited include Deputy Minister of Finance Nguyen Duc Chi, SSC Vice Chairman Bui Hoang Hai, and industry voices Dominic Scriven and Michael Kokalari.

Regulatory moves center on amendments to the Securities Law to simplify procedures, enable new market models, and update rules for electronic trading, securities firms, and investment funds, with the amended law slated for submission to the National Assembly in October 2026.

Regulators are prioritizing improved listed-company quality, strengthened market supervision, stable operations, and crackdowns on violations as part of the reform push.

As of May 2026, Vietnam exceeded 13 million securities trading accounts, with individual domestic investors surpassing 13% of the population and total market capitalization around 403 billion USD.

FTSE Russell plans to upgrade Vietnam from Frontier to Secondary Emerging Market in September 2026, with a gradual inclusion of Vietnamese stocks in indices over the following year.

Total market capitalization stands around 10.6 quadrillion VND (about 403 billion USD), with bond and derivatives markets expanding and liquidity among ASEAN’s highest.

A key objective is achieving the MSCI upgrade, which will require deeper reforms to trading infrastructure, foreign exchange rules, and higher foreign ownership limits, accelerating reforms already underway.

Together, these reforms and upgrades are aimed at creating a more open, efficient, and globally integrated market that can attract sustained foreign investment and support long-term growth.