The positive momentum reflected in rising indices, liquidity, market capitalisation and investor numbers. — VNA/VNS Photo

HÀ NỘI — Việt Nam’s securities market in 2025 maintained stronger growth than many regional peers, thanks to flexible direction by the Government and the Ministry of Finance, alongside efforts to reform institutions and modernise information technology infrastructure, according to the State Securities Commission (SSC).

In a conference held by the commission on Monday to review its performance in 2025 and outlined key tasks for 2026, the SSC noted that FTSE Russell officially upgraded Việt Nam’s stock market from frontier market to secondary emerging market status.

During the year, the SSC made significant progress in improving the legal and policy framework. Institutional work was implemented in a co-ordinated manner, including the issuance of two decrees, one resolution, seven circulars and three major schemes. At the same time, the regulator strengthened policy dialogue and expanded cooperation with international organisations to support the market upgrade process.

Market supervision and enforcement were further enhanced, together with accelerated information technology modernisation, administrative reform and external co-operation, contributing to a safer, more transparent and efficient market.

Addressing the conference, Deputy Minister of Finance Nguyễn Đức Chi highlighted five key achievements of the securities sector in 2025. He noted continued positive momentum reflected in rising indices, liquidity, market capitalisation and investor numbers. The revised Securities Law and related documents issued during the year helped improve the coherence and transparency of the legal framework.

He also underlined the official operation of the new information technology system, which provides a foundation for market expansion and new products. The FTSE Russell upgrade was described as an important milestone affirming Việt Nam’s market position internationally. Market discipline was maintained, with violations handled in accordance with the law to protect investors’ legitimate rights and interests.

Looking ahead to 2026, the first year of the 2026–30 development period, Chi stressed the need to further improve the legal framework, maintain current rankings and move towards higher standards, ensure the safe and efficient operation of information technology systems, and strengthen the application of science and technology in supervision.

He also called for the development of new products, improvements in investor quality, enhanced training and communications, and broader international cooperation.

SSC Chairwoman Vũ Thị Chân Phương said 2026 would be pivotal for the sector’s next development stage. The SSC is committed to ensuring the market operates safely and stably, develops in line with higher-ranking standards, and continues to serve as a key medium- and long-term capital mobilisation channel for the economy.

In 2025, the VN-Index rose 38 per cent from the end of the previous year, with average trading value reaching nearly VNĐ29.44 trillion (US$1.11 billion) per session. Market capitalisation exceeded VNĐ9.68 quadrillion, equivalent to 84.1 per cent of estimated GDP in 2024. The bond market recorded stable growth, with total listed value surpassing VNĐ2.6 quadrillion, while derivatives trading also expanded. The number of investor accounts exceeded 11 million, up 24.7 per cent year on year. Capital mobilisation through the market continued to increase, supporting both businesses and the State budget. — VNS