Minister of Finance Nguyen Van Thang
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Speaking at the conference, Minister of Finance Nguyen Van Thang highlighted that within the broader macroeconomic landscape, Vietnam’s stock market has made significant contributions to economic growth, gradually becoming a crucial medium and long-term capital mobilization channel. Over the first nine months of 2025, the total capital mobilized in the stock market reached approximately 394.3 trillion VND. The stock market has been vibrant, with the market capitalization of stocks reaching 78.5% of GDP, and the outstanding bond market reaching 22.3% of GDP. Since the beginning of the year, the average trading value in the stock market has increased by nearly 39% compared to the previous year, while the bond market has seen a 27.7% increase. The number of investor accounts as of the end of September exceeded 11 million, a 19% increase compared to the end of 2024, including over 18,800 domestic institutional investor accounts and nearly 48,000 foreign investor accounts.
In the development of the stock market, securities investment fund management in Vietnam has achieved notable results, contributing to the sustainable growth of the market. Currently, there are 43 fund management companies managing assets worth over 800 trillion VND, more than seven times the value in 2014, with an average annual growth rate of approximately 20%. However, compared to regional countries like Thailand and Malaysia, Vietnam’s asset management value as a percentage of GDP remains modest at around 6%, indicating significant room for growth.
On October 8th, FTSE Russell officially upgraded Vietnam’s stock market from frontier to secondary emerging status.
This upgrade opens opportunities to attract foreign indirect investment, supplementing resources for economic development. It also presents a chance to qualitatively transform the stock market, including shifts in investor structure, increasing the proportion of institutional investors, and fostering a more professional, sustainable, and growth-oriented investment fund industry, the Minister emphasized.
In his presentation at the conference, Vice Chairman of the State Securities Commission (SSC) Bui Hoang Hai outlined key aspects of the Plan for Restructuring Investors and Developing the Securities Investment Fund Industry, along with future policy directions. The Ministry of Finance has issued this Plan to implement Party and National Assembly resolutions on stock market development and the Strategy for Stock Market Development by 2030, approved by the Prime Minister.
Vice Chairman of SSC Bui Hoang Hai
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The Plan aims to achieve a total net asset value (NAV) of 5% of GDP by 2030, with double-digit growth by 2035. The number of investors holding fund certificates is targeted to reach 2.5 million by 2030 and 5 million by 2035.
Regarding investor structure, by 2030, individual investors are expected to account for 70%, with institutional and foreign investors making up 30%, moving towards a 60%:40% ratio in subsequent years.
The number of foreign investor accounts is targeted to reach 200,000 by 2030, with a 15% annual increase in the following period. The number of investment funds is expected to reach 500 by 2030, maintaining a 25% annual growth rate in subsequent years.
Concluding the conference, Minister of Finance Nguyen Van Thang emphasized that the insights from speakers and delegates underscored the necessity of developing the securities investment fund industry, restructuring the investor base, and encouraging market participation through various fund types to attract domestic and foreign capital alongside effective indirect investment mobilization.
Moving forward, the Minister urged the SSC to focus on the following measures:
First, implement comprehensive solutions to develop the capital market in both breadth and depth, and vigorously execute the contents of Dispatch No. 192 dated October 8, 2025, from the Prime Minister regarding the upgrading of Vietnam’s stock market.
Second, continue to refine legal frameworks guiding the operations of securities investment funds and voluntary pension funds, maximizing operational conditions to create a transparent business environment and enhance the role of private investment.
Third, collaborate with relevant ministries and agencies to research and introduce diverse risk mitigation products for foreign investors.
Fourth, strengthen management, supervision, inspection, and violation handling in securities and the stock market, ensuring market discipline and transparency for sustainable development.
Fifth, continue training, awareness-raising, and knowledge dissemination for non-professional individual investors about securities investment funds.
“I am confident that with the collective efforts of all parties, we will achieve this year’s growth targets and those of the upcoming period. Vietnam’s capital market and securities investment fund system will continue to develop and operate efficiently, with foreign indirect investment flows sustaining their growth,” the Minister affirmed.
– 14:32 17/10/2025
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