Towards a sustainable medium and long-term capital mobilization channel

During the Government's regular press conference on November 8, Deputy Minister of Finance Nguyen Duc Chi told VnEconomy that the strategy for developing the stock market until 2030, approved by the Prime Minister, aims to make the capital market the primary medium and long-term capital mobilization channel for the economy.

"Our goal is to share the burden with the banking credit channel, creating conditions for the government and businesses to mobilize financial resources more effectively," he added.

According to Deputy Minister Chi, to realize this goal, the Ministry of Finance (MoF) has implemented a comprehensive range of solutions, from improving the legal framework, shortening procedures, to enhancing market transparency.

A notable achievement is the upgrade of Vietnam's stock market from a frontier market to a secondary emerging market (to be effective from September 2026, according to an announcement from FTSE Russell on October 8, 2025). This milestone not only reflects efforts to improve market quality but also elevates Vietnam's position on the international financial map, attracting the interest of foreign investors.

One of the highlights in the effort to develop the capital market is the reforms related to the stock market. Government Decree 245/2025/ND-CP, amending Decree 155/2020/ND-CP, has made a breakthrough in simplifying the IPO process associated with listing. 

In addition to the stock market, the bond market also plays an important role in the capital market development strategy. The MoF is focusing on building fundamental solutions, according to Mr. Chi.

Despite many advances, Vietnam's capital market still faces numerous challenges such as bond market's scale, liquidity,... The MoF is actively seeking input from relevant agencies, businesses, and the media to complete legal regulations. 

With the ongoing reforms, the MoF expects 2026 to witness strong growth in both the stock and bond markets. 

Looking further, developing the capital market is an integral part of Vietnam's economic restructuring and sustainable growth strategy. With a clear strategic direction and strong determination, Vietnam's capital market is gradually affirming its role as a pillar in mobilizing resources for the country's sustainable development.