FTSE Russell confirms Vietnam stock market upgrade

FTSE Russell announced the update at 3:00 am on Wednesday (Vietnam time) as part of its March semi-annual country classification review of markets tracked by its global equity and fixed income indexes.

The organization confirmed it will proceed with the reclassification of Vietnam’s stock market in line with the roadmap first outlined in October last year.

“FTSE Russell confirms that Vietnam meets all criteria for secondary emerging market status under the FTSE Equity Country Classification Framework and will continue to monitor developments closely ahead of the September 2026 effective date,” the index provider said in a statement.

The March review highlighted improvements in market accessibility, particularly progress in enabling access for global brokerage firms, a key requirement for index replication and international investor participation.

FTSE Russell noted that the Ministry of Finance issued Circular 08/2026 on February 3, introducing a new trading mechanism that allows foreign investors to place orders through global brokers without opening accounts at domestic securities firms.

The provider also acknowledged advances in market infrastructure, including the removal of the prefunding requirement for foreign institutional investors through a non-prefunding model, along with the establishment of a formal process to handle failed trades.

The upgrade is expected to mark a major milestone for Vietnam’s capital market, paving the way for deeper integration into global financial systems.

Vietnam’s inclusion in FTSE indices will be implemented in four phases, beginning in September 2026 and scheduled for completion by September 2027.

The phased roll-out is designed to ensure a smooth transition, manage capital inflows, and maintain market liquidity while supporting the new settlement framework.

Accordingly, Vietnamese equities will initially be added with a 10-percent weighting in September 2026, followed by increases to 20 percent in March 2027, 35 percent in June 2027, and the remaining 35 percent in September 2027.

Alongside the upgrade confirmation, FTSE Russell published a reference list of 32 Vietnamese stocks meeting screening criteria for potential inclusion in the FTSE Global All Cap Index, based on data as of December 31, 2025.

The list includes five large-cap names: Hoa Phat Group, Vietcombank, the Bank for Investment and Development of Vietnam, Vinhomes, and Vingroup.

Four mid-cap firms were also identified: Masan Group, Sabeco, FPT, and Vinamilk.

The remaining 23 are small-cap stocks, including SSI Securities Corp, PetroVietnam Fertilizer and Chemicals Corp, Tasco, Novaland, Sacombank, DIC Corp, and Eximbank.

However, FTSE Russell said the final list of Vietnamese stocks eligible for inclusion in its September 2026 review will be announced on August 21, 2026.