On the morning of October 17, 2025, in Ho Chi Minh City, Minister of Finance Nguyen Van Thang chaired the conference titled “The Role of the Fund Industry in the Development of the Stock Market and Attracting Indirect Investment Capital into Vietnam.” The conference aimed to set policy directions and foster innovation and integration within the fund industry, enhancing its role in connecting capital sources and attracting foreign indirect investment.
Attendees included Ho Ky Minh, Vice Chairman of Da Nang City People’s Committee; Vu Thi Chan Phuong, Chairwoman of the State Securities Commission (SSC); and representatives from the Party Central Committee’s Office, the Central Policy and Strategy Department, the Central Internal Affairs Committee, the National Assembly’s Economic and Financial Committee, the Government Office, Ho Chi Minh City People’s Committee, the State Bank of Vietnam, Da Nang City People’s Committee, and leaders from the Ministry of Finance, SSC, Vietnam Stock Exchange, and the Vietnam Securities Depository.
Also present were representatives from the World Bank, International Finance Corporation, Japan International Cooperation Agency, the Australian Embassy, the Australian Trade and Investment Commission in Vietnam, fund management companies, securities firms, domestic and foreign commercial banks, and media outlets.
In his opening remarks, Minister Nguyen Van Thang highlighted that Vietnam’s investment fund management sector has achieved significant milestones, contributing to the sustainable growth of the stock market. Currently, there are 43 fund management companies overseeing assets valued at over 800 trillion VND, a sevenfold increase since 2014, with an average annual growth rate of approximately 20%.
The Minister also noted that on October 8, FTSE Russell officially reclassified Vietnam’s stock market from Frontier to Secondary Emerging status. This upgrade enhances Vietnam’s global standing, affirming its correct development path and deepening integration into the international financial system.
The reclassification opens opportunities to attract foreign indirect investment, bolstering economic development. It also presents a chance to qualitatively transform the stock market, including shifting the investor base toward more institutional investors, fostering a more professional and sustainable fund industry.
Minister of Finance Nguyen Van Thang addressing the conference
“As the global economy recovers and Vietnam’s domestic economy stabilizes and grows, the fund industry faces numerous opportunities for development, innovation, and integration. Enhancing professionalism, transparency, and efficiency in investment activities is not only a trend but also crucial for the industry to strengthen its role in connecting capital and fostering a sustainable stock market, attracting more foreign indirect investment for national economic development in the New Era,” emphasized Minister Thang.
In his presentation, SSC Vice Chairman Bui Hoang Hai outlined key aspects of the Scheme for Restructuring Investors and Developing the Securities Investment Fund Industry. The Ministry of Finance launched this scheme to implement Party and National Assembly resolutions on stock market development and the approved Strategy for Stock Market Development by 2030.
During the conference, representatives from VinaCapital, Kim Vietnam Fund Management, Phu Hung Fund Management, Eastspring, HSBC, and SSI Fund Management shared insights on opportunities and challenges for Vietnam’s fund industry post-reclassification, proposed sustainable development solutions, and discussed the Korean ETF market with recommendations for Vietnam.
The panel discussion, moderated by SSC Vice Chairman Bui Hoang Hai, featured representatives from fund management companies and HSBC, who delved into developing the securities investment fund industry, attracting indirect investment, and tax policies for fund activities.
Concluding the conference, Minister Nguyen Van Thang emphasized the importance 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. He highlighted the effectiveness of indirect investment in recent years.
Looking ahead, 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; vigorously execute the contents of Telegraph No. 192/CĐ-TTg dated October 8, 2025, from the Prime Minister regarding Vietnam’s stock market reclassification.
Second, continue refining legal frameworks for securities investment funds and voluntary pension funds, creating optimal conditions for transparent business environments and promoting private investment.
Third, collaborate with relevant ministries to diversify risk management products for foreign investors.
Fourth, strengthen management, supervision, inspection, and violation handling in the securities and stock market; enforce market discipline to ensure transparent and sustainable development.
Fifth, continue educating non-professional individual investors about securities investment funds.
The Minister also stressed that the development of the fund industry and the stock market requires the active participation of fund management companies and market members. He called on these entities to engage in policy development, provide input on legal documents, and enhance their capabilities as professional asset managers to ensure sustainable industry growth. Additionally, he urged the establishment of common ethical standards to build investor trust.
“I am confident that with collective efforts, we will achieve this year’s growth targets and future goals. Vietnam’s capital market and securities investment fund system will continue to thrive, and foreign indirect investment will grow steadily,” affirmed Minister Thang.
The conference successfully demonstrated the commitment of regulatory bodies, fund management companies, investment funds, and market participants to advancing the fund industry and promoting stock market development in the new phase.
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