Global financial leaders congratulate Vietnam ahead of FTSE Russell market upgrade

The congratulations come ahead of FTSE Russell's decision to reclassify Vietnam's stock market from frontier to secondary emerging-market status, effective September 21, marking Vietnam's inclusion in the FTSE Russell Global Equity Index Series.

Julia Hoggett, CEO of the London Stock Exchange, congratulated Vietnam and those who have contributed to the market's progress.

She said the achievement reflects the leadership of the SSC and the efforts of market participants over many years.

Hoggett expressed hope that Vietnam's capital market will continue to develop, attract more global investors and play a greater role in the international financial community in the years ahead.

Adena Friedman, chair and CEO of Nasdaq, also congratulated Vietnam, saying the upgrade recognizes the country's achievements after years of reforms, strengthening its economic foundations and modernizing its capital market.

She noted that Vietnam has become a growth driver in ASEAN and is drawing increasing attention from the international community.

"This is only the beginning," Friedman said, expressing expectations for Vietnam's next stage of development and Nasdaq's continued cooperation with the Vietnamese market.

Loh Boon Chye, CEO of the Singapore Exchange (SGX Group), also congratulated Vietnam on its entry into the secondary emerging-market group.

Underscoring the role of regulators and the collective efforts of market participants in the achievement, he expects Vietnam's market to continue growing and becoming more attractive to international investment flows.

Loh added that the milestone is significant not only for Vietnam but also for ASEAN, as a more developed and deeply connected capital market could create additional opportunities for economies across the region.

He said the SGX Group is ready to work with Vietnamese partners to promote cooperation and strengthen connections between the two markets, contributing to ASEAN's standing in international financial markets.

Gokul Laroia, Morgan Stanley's Asia CEO, said Vietnam's new secondary emerging-market status represents more than a simple change in market classification.

The milestone recognizes Vietnam's economic progress and the development of its domestic capital market, he said.

Reforms implemented in recent years have improved market accessibility, strengthened investor confidence and enhanced Vietnam's appeal to global capital, according to Laroia.

These changes are creating more opportunities for businesses to secure resources for growth while enabling international investors to participate more deeply in Vietnam's development, he said.

Morgan Stanley also expressed its desire to continue supporting the development of Vietnam's capital market in the years ahead.

Amid these congratulations, a conference has been set for Friday in Hanoi, jointly organized by the Ministry of Finance and the SSC to mark Vietnam's upgrade by FTSE Russell.

The event will bring together international financial institutions, investment funds and custodial banks, with representatives of major global asset managers BlackRock and Vanguard also attending.