Entering 2025, the Vietnamese stock market faces many opportunities for strong development thanks to the stability of the macro economy, reasonable management policies and efforts to upgrade from a frontier market to an emerging market. Although there are still challenges, with synchronous solutions from the Government and management agencies, the stock market is expected to have a prosperous year in both scale and quality.
Expect a breakthrough thanks to a solid foundation
Regarding factors affecting the stock market in 2025, Chairwoman of the State Securities Commission (SSC) Vu Thi Chan Phuong said: The stock market in 2025 will be affected by many factors both domestic and international.
Overseas, the global economy is recovering but risks remain. The International Monetary Fund (IMF) forecasts global economic growth of 3.2% in 2025, similar to last year’s level. However, factors such as trade conflicts, geopolitical tensions and a strong US dollar remain potential risks.
Domestically, the business environment has improved thanks to policies supporting businesses, administrative reforms and investment expansion. With flexible management policies and government support, Vietnam continues to attract investment and the Vietnamese economy continues to maintain positive growth momentum.
Financial and securities policies have been improved: The amended Securities Law and Circular 68/2024/TT-BTC have removed many bottlenecks, creating favorable conditions for investment capital flows, especially from foreign investors.
Circular 68/2024/TT-BTC is an important step in removing legal bottlenecks, especially in trading operations that do not require pre-deposit in cash, helping Vietnam meet many of FTSE Russell's upgrading criteria.
These factors combined with the Government's determination promise to create a solid foundation for the stock market to develop stably in the new year.
Illustration photo: An Khuong/VNE
Efforts to upgrade the market
Chairwoman Vu Thi Chan Phuong said: One of the most important goals of the Vietnamese stock market in 2025 is to upgrade from a frontier market to an emerging market. This is not only a step forward in terms of reputation but also opens the door to attracting international capital flows.
The Ministry of Finance and the State Securities Commission are continuing to work with relevant ministries and sectors such as the State Bank and the Ministry of Planning and Investment to coordinate in developing solutions to meet the upgrading criteria. The ministries and sectors are also actively implementing solutions to create more favorable conditions for foreign investors' investment activities in the Vietnamese market, such as amending legal regulations related to procedures for opening indirect investment capital accounts in the direction of minimizing procedures and shortening account opening time, updating and fully disclosing the maximum state ownership ratio for conditional business lines, and limiting access for foreign investors.
In addition, the State Securities Commission has been actively and regularly working with rating organizations and major international investors to promote the policies, orientations and determination of the Vietnamese Government in upgrading the market; strengthen coordination with foreign institutional investors to answer questions and acknowledge and resolve difficulties of foreign investors when investing in Vietnam; and at the same time, seek support from foreign investors for the goal of upgrading Vietnam's stock market.
The upgrading of the stock market depends on the objective assessment of international rating organizations through the practical experience of foreign investors. However, according to the records of international and domestic organizations, Vietnam has many opportunities for FTSE Russell to upgrade according to the roadmap.
Chairwoman of the State Securities Commission Vu Thi Chan Phuong said that to improve the operating mechanism, the State Securities Commission is actively coordinating with ministries and branches to simplify procedures for opening indirect investment capital accounts, increase the disclosure of the state ownership ratio in listed enterprises and promote the application of technology in market monitoring...
If the upgrade target is achieved, Vietnam's stock market can attract billions of dollars from large investment funds around the world, while improving transparency and professionalizing the market.
Assigning tasks to the Securities industry, Minister of Finance Nguyen Van Thang emphasized that the Securities industry must make continuous efforts from all market members, from infrastructure reform, improving service quality, especially attracting international investors, attracting medium and long-term capital for the State budget, for businesses and for the economy. At the same time, it is necessary to create a transparent, safe and attractive investment environment, so that the Vietnamese stock market becomes a reliable destination for domestic and foreign investors.
To meet the expectations of the Government and the leaders of the Ministry of Finance, in the coming time, the securities industry will continue to synchronously deploy many solutions to ensure the sustainable development of the Vietnamese stock market, affirming its role as an important and main medium and long-term capital channel of the economy, contributing effectively to the country's economic growth, focusing on important groups of solutions, specifically as follows:
Firstly, continue to improve the legal framework and policies for stock market development, focusing on completing documents guiding the implementation of the Securities Law (amended) when approved by the National Assembly, protecting the legitimate rights and interests of investors, creating motivation to promote the sustainable development of Vietnam's stock market; continue to implement solutions, meet the criteria, and aim for upgrading.
Second, continue to focus on synchronously implementing solutions to arrange, classify, and expand the market; restructure the commodity base; restructure securities trading organizations in the market; restructure the investor base and restructure the market organization to further expand opportunities for businesses to mobilize capital.
Third, focus on the strategy of developing institutional investors through expanding the scale and developing diverse types of investment funds in the stock market. In addition, continue to synchronize solutions, strive to soon upgrade the stock market from frontier to emerging to better attract the attention and investment participation of foreign organizations.
Fourth, strengthen the capacity of management, supervision, inspection, examination and handling of violations in securities and the stock market. Tighten market discipline and strictly handle violations so that the stock market can develop transparently and sustainably. Continue to invest in and upgrade modern information technology systems, ensure the security and safety of information technology systems and databases to serve well the management and supervision of the market, ensure the safe operation of the market, and protect the legitimate rights and interests of investors.
Fifth, actively integrate into the world financial and securities markets, meet the requirements of financial security, improve competitiveness, risk management, apply international standards and practices; continue to improve the quality of corporate governance and risk management of listed companies and public companies according to international practices.
Sixth, promote information and propaganda activities, training, improve understanding and knowledge of finance and securities for investors, form classes of securities investors with basic knowledge, professional trading skills, and increase the number of institutional investors participating in the market.
"Under the leadership and direction of the Party, Government, Ministry of Finance; the efforts, determination, solidarity of the collective leadership and cadres, civil servants, public employees, and workers in the entire securities industry; and the support and joint efforts of market members, businesses, domestic and international investors... with the above important solutions, the Vietnamese stock market will seize the opportunity to make a breakthrough in both quality and scale, raise its position and be ready and confident to enter a new era of the nation", Chairwoman of the State Securities Commission Vu Thi Chan Phuong expected.
Source: VGP
Source: https://phunuvietnam.vn/no-luc-nang-hang-thi-truong-chung-khoan-tao-dong-luc-tang-truong-dai-han-20250205205952809.htm
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