Vietnamese Minister pitches stock market upgrade in London discussions with LSE
Hanoi, September 17 (VNA) - Finance Minister Nguyen Van Thang held a working session with executives from the London Stock Exchange (LSE) on September 15 (local time), pressing Vietnam’s case for an upgrade to the emerging market status while touting robust economic growth and stock market gains.
Thang commended the ongoing collaboration between the LSE, its subsidiary FTSE Russell, and the State Securities Commission of Vietnam (SSC). He briefed LSE leaders on Vietnam’s economic trajectory and capital market development, stressing reforms aimed at meeting FTSE Russell’s criteria for market classification.
Vietnam has rolled out sweeping reforms and fast-tracked policies to facilitate foreign capital inflows into the stock market, Thang said.
The minister expressed gratitude to the LSE and its CEO Julia Hoggett, FTSE Russell and its Global Head of Policy & Governance David Sol, along with their teams for supporting Vietnam’s market reforms and efforts to meet FTSE’s standards.
Providing a snapshot of Vietnam’s economic performance, he noted a 7.96% GDP growth rate in the second quarter of 2025, with the Government targeting 8.3%–8.5% for the full year. Foreign investment surged, with registered, adjusted, and contributed capital approximating 26.1 billion USD during the first eight months, a 27.3% jump year-over-year. Total export-import turnover climbed 16.3% to 598 billion USD.
The stock market, too, is a hive of activity, with a capitalisation that neared 352 billion USD by late August, roughly 79.5% of Vietnam’s estimated 2024 GDP. Trading has been electric, averaging over 1.1 billion USD per session since the year's beginning, with some spiking to over 3 billion USD, cementing Vietnam’s place among ASEAN’s most vibrant markets, he added.
Hoggett, for her part, detailed the LSE’s role in Vietnam’s quest, highlighting FTSE Russell’s collaboration with the SSC to untangle bottlenecks and a newly signed memorandum of understanding (MoU) on index development between the Vietnam Stock Exchange (VNX) and FTSE Russell.
Thang suggested some cooperation orientations for Vietnam and the LSE. The focus is on leveraging the LSE's expertise in legal frameworks, market oversight, and global standards for corporate governance, information disclosure, and environmental, social, and governance (ESG) practices. This approach aims to enhance the transparency and safety of Vietnam’s market and improve its global connectivity.
Vietnam is also keen to draw on the LSE’s experience in diversifying securities, from green and sustainable bonds to derivatives, the minister noted.
He proposed joint investment promotion and branding to connect Vietnamese firms with UK and European investors, plus teamwork on training, investor education, and workforce development in finance. Thang also expressed interest in adopting fintech, AI, and blockchain to improve market efficiency.
Hoggett affirmed the LSE’s commitment to supporting Vietnam’s push for the emerging market status, pledging continued cooperation to strengthen the country’s capital market.
Both sides also agreed to expand collaboration to pull in more global cash.
FTSE Russell acknowledged Vietnam’s recent reforms as effective steps toward meeting upgrade criteria.
On this occasion, the VNX signed an MoU with FTSE International Ltd., establishing a strategic partnership to fortify Vietnam’s capital market infrastructure and global integration.
Thang added that SSC Chair Vu Thi Chan Phuong would hold a separate working session with FTSE Russell to delve into market upgrade specifics. The Ministry of Finance also hosted an investment promotion conference in London on September 16 to brief financial investors on Vietnam’s burgeoning capital market./.
