Vietnam's Stock Market Upgrade Bid Boosted by SBV's New Circulars
FTSE Russell is set to review Vietnam's stock market status on October 7, potentially upgrading it from 'frontier' to 'secondary emerging'. This follows Vietnam's significant progress in meeting FTSE's requirements, as noted by HSBC analysts.
Vietnam's upgrade bid has been bolstered by recent reforms aimed at attracting foreign investment. Minister of Finance Nguyen Van Thang confirmed this, highlighting the country's commitment to facilitating inflows.
The State Bank of Vietnam (SBV) has played a crucial role in these reforms. It has issued two new circulars - 03/2025/TT-NHNN and 25/2025/TT-NHNN - to streamline indirect investments. These circulars expand accepted identification documents and simplify account opening processes for foreign investors.
Circular 25/2025/TT-NHNN, in particular, allows financial institutions to open, close, and use payment accounts on behalf of foreign investors without consular legalization. It also permits the use of the SWIFT system and electronic means for these transactions, reducing bureaucracy and opening times.
The SBV has ordered prompt implementation of these circulars to minimize account opening times for foreign investors conducting indirect investments. If successful, Vietnam's stock market status upgrade could attract more international investment, further boosting the country's economy.
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