Prime Minister Pham Minh Chinh received Mr. Gerald Toledano, member of the Executive Board, Director of global equities and multi-asset products of FTSE Russell - Photo: VGP/Nhat Bac
Mr. Gerald Toledano and his associates are visiting Vietnam to learn about the capital market and evaluate the ranking of Vietnam's stock market.
FTSE Russell currently rates 47 countries and their stock markets, covering 90% of global capital markets. It provides an index for 94 of the world's top 100 asset managers, with total assets of nearly $16 trillion.
In March and September each year, FTSE Russell will publish the list of stock markets to be upgraded, downgraded and countries on the watch list. Vietnam's stock market has been on the waiting list for consideration to be upgraded from frontier to emerging by FTSE since September 2018.
At the meeting, Mr. Gerald Toledano and FTSE Russell's leadership members gave assessments of the Vietnamese economy in general and the Vietnamese stock market in particular; shared recommendations for further development of the Vietnamese stock market in accordance with international practices and standards. According to the latest rating results (reviewed in March 2025), FTSE Russell continues to keep Vietnam on the watch list for upgrading to secondary emerging market.
Prime Minister Pham Minh Chinh highly appreciated the Company's activities in recent years, directly monitoring closely, giving objective comments and assessments, closely reflecting the Vietnamese economy and stock market - Photo: VGP/Nhat Bac
Mr. Gerald Toledano highly appreciated the efforts, determination and reform and innovation measures that Vietnam has proposed and implemented in socio-economic development in recent times, including very important reforms in financial market development, such as researching and building a roadmap to implement the central clearing counterparty (CCP) mechanism, contributing to the development of Vietnam's economy in the right direction. These are also important factors to evaluate and rank Vietnam's stock market.
He said that the development of Vietnam's stock market has achieved important results, especially impressive results in liquidity, being the market with the largest liquidity in ASEAN, surpassing both Thailand and Singapore.
Welcoming the FTSE Russell delegation, Prime Minister Pham Minh Chinh highly appreciated the Company's activities in recent years, directly monitoring closely, giving objective comments and assessments, closely reflecting the Vietnamese economy and stock market; actively accompanying management agencies and market members to provide many useful recommendations and solutions.
The Prime Minister said that Vietnam has 80 years of independence but has gone through 30 years of war and 30 years of embargo. It is still a developing country with a transitional economy, modest in scale and large in openness. A small external impact can have a large impact on the internal environment.
Informing about the socio-economic situation of Vietnam in recent times with outstanding results, the Prime Minister also shared Vietnam's development orientations in the coming time, especially focusing on promoting growth with the target of reaching 8% or more in 2025 and double-digit growth in the period of 2026-2030, while maintaining macroeconomic stability, controlling inflation, and ensuring major balances of the economy.
Mr. Gerald Toledano affirmed that FTSE Russell is committed to continuing to accompany and support the process of upgrading Vietnam's stock market from frontier to emerging - Photo: VGP/Nhat Bac
To realize this goal, the need to mobilize capital for the economy is huge and developing a deep and effective capital market is an urgent task to effectively mobilize resources from the domestic and foreign private sectors. According to the Prime Minister, with the young stock market, Vietnam's viewpoint is to learn from experience while doing, gradually expanding, not being perfectionist or hasty.
In recent times, Vietnam has shown great determination in reforming the stock market; improving the investment environment to be increasingly open, transparent and favorable; committing to protecting the legitimate rights and interests of investors in the spirit of "harmonized benefits and shared risks". The Government has submitted to the National Assembly for approval the amended Securities Law; and at the same time, passed a Resolution on developing an international financial center in Vietnam.
The Prime Minister asked FTSE Russell to continue to accompany the Government and state management agencies to recommend and advise on useful solutions to bring the Vietnamese stock market into the emerging group; promote the Vietnamese stock market to develop transparently, effectively, approaching international standards with the spirit of "keeping up, progressing together, surpassing", developing rapidly, sustainably, healthily, stably, promoting the role of an effective and important capital mobilization channel.
Specifically, the Prime Minister requested FTSE Russell to continue to monitor, make objective, accurate and comprehensive comments and assessments reflecting the reality of Vietnam's economy and capital market; share experiences, provide advice and support in building legal corridors, mechanisms and policies, developing modern infrastructure, smart governance, training professional and elite human resources; support Vietnam in the process of building and participating substantially and actively in the operation of an international financial center; support Vietnam in attracting resources and capital flows, calling for and connecting investors to Vietnam.
Inspired by what Vietnam has done and agreeing with the Prime Minister's proposals, Mr. Gerald Toledano affirmed that FTSE Russell is committed to continuing to accompany and support the process of upgrading Vietnam's stock market from frontier to emerging, as well as Vietnam's long-term development process until 2045, achieving economic goals as well as improving people's lives. In particular, FTSE Russell will actively share information about Vietnam's reforms and progress with international investors.
Ha Van
Source: https://baochinhphu.vn/thi-truong-chung-khoan-viet-nam-co-tinh-thanh-khoan-lon-nhat-asean-102250717200329403.htm
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