Vietnam’s stock market is riding a historic wave of initial public offerings (IPOs), with projections estimating a potential inflow of up to US$47 billion over the next three years.

Vietnam’s first-ever inclusion by FTSE Russell in the list of Secondary Emerging Markets, alongside China, India, and Indonesia, represents a historic turning point and a new phase in the development of its stock market, according to Associate Professor Dr Ho Quoc Tuan from the University of Bristol (UK).

VOV.VN - FTSE Russell, a leading global index provider, has congratulated Vietnamese market authorities on their progress in aligning with international standards, noting that Vietnam’s reclassification to a secondary emerging market reflects key infrastructure improvements, according to David Sol, Global Head of Policy and Governance at the firm.

VOV.VN - Index provider FTSE Russell released its Equity Country Classification report for September 2025 on October 7 (local time), officially upgrading Vietnam’s stock market from frontier to secondary emerging market status.

Prime Minister Pham Minh Chinh recently issued a decision, giving a go-head for a project to upgrade the stock market, aiming at transforming it into an important channel for medium- and long-term capital mobilisation, completion of a market mechanism with state management, and deeper international integration.

Leading investment fund VinaCapital remains confident in the Vietnamese stock market in the last months of this year despite foreign investors’ heavy net selling.

Minister of Finance Ho Duc Phoc chaired an investment promotion conference themed “Vietnam – Investment Destination” in Tokyo on March 12, which drew representatives from leading Vietnamese and Japanese financial institutions, banks, life insurance corporations, investment funds, and securities companies.

Global investors' attention is shifting to Vietnamese stocks, which have a higher long-term rate of return (ROR) than stocks in other emerging markets in the region and the world.

The Top 50 prestigious and effective public companies of 2023 (VIX50), recently announced by the Vietnam Report JSC, has witnessed a significant change compared to 2022 with cautious forecasts.

Many factors are expected to draw cash flow back on the stock market, especially that from foreign investors.