Vietnam flag prominently displayed on NYSE screens ahead of market upgrade

Images taken on the NYSE trading floor on Thursday afternoon showed Vietnam’s national flag and the large message, “Congratulations Vietnam! From Frontier to Emerging Market.”

The message described the upgrade as “a milestone years in the making” that would open a new chapter for Vietnam and its position in the global capital market.

On the occasion of Vietnam’s stock market reaching a new classification milestone, Alex Hong, co-head of capital markets for Asia-Pacific at the NYSE, congratulated Vietnam.

On behalf of the NYSE, Hong recognized the efforts of the Vietnamese people, government and business community in achieving the milestone.

He said the achievement was the result of years of persistent reforms, reflecting the resilience and talent of the Vietnamese people, the government’s strategic vision and the confidence Vietnam has built within the international community.

The NYSE representative said the market upgrade was not simply recognition of achievements already made.

“An upgrade is not a finish line, but a gateway,” Hong said.

According to him, the gateway could lead to deeper liquidity and greater access to global capital while creating a stronger bridge between Vietnamese businesses and international markets.

The NYSE also expressed its desire to support Vietnam in building this bridge as the country continues to strengthen its role internationally and raise the standing of its capital market.

The Ministry of Finance and FTSE Russell are scheduled to hold a conference in Hanoi on Friday titled “Vietnam officially joins the FTSE Russell Global Equity Index Series.”

The event comes just before FTSE Russell’s decision to upgrade Vietnam’s stock market from frontier to secondary emerging market status takes effect on September 21.

The conference will be attended by leaders of the Ministry of Finance and the State Securities Commission of Vietnam, as well as representatives of FTSE Russell, the World Bank, financial institutions, investment funds and global custodian banks, according to the State Securities Commission of Vietnam.

Notably, international guests include representatives from BlackRock and Vanguard, two of the world’s largest asset management companies, with total assets under management of more than US$15 trillion and approximately $10-12 trillion, respectively.

Vanguard’s emerging-market index funds have committed to investing in Vietnamese stocks and adding them to their portfolios starting September 21.