Log in or register
Share on LinkedInShare on LinkedIn

ARTICLE · 27 SEPTEMBER 2000

Finance Turns A Corner In Vietnam

Russin & Vecchi
Explore more from Russin & Vecchi

VietnamFinance and Banking

Vietnam’s first Stock Exchange Center ("Center") was opened in Ho Chi Minh City on July 20, 2000. The event inaugurated the operation of a securities market in Vietnam. According to Decision No. 127/QD-TTg of the Prime Minister dated July 11, 1998, regarding formation of the Center, the State Securities Commission1 ("SSC") is a non-business organization which receives its financial support from the State Budget.

1. What are the legal instruments for operation of the securities market?

There is not yet a securities law, as such. Basic rules for operation of the securities market are provided by Decree 48/1998/CP dated July 11, 1998, of the Government on securities and a securities market ("Decree 48"). In addition to Decree 48, there are regulations for particular activities, such as: listing, information announcements, trading, custody, clearing and registration, organization and operation of securities companies and securities investment funds and management funds, and foreign

We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.

Register for freeORLog in

Related Articles

Legal Intelligence Newsletters: sign up for the latest legal and regulatory news on your chosen topics

Read more about

Related Comparative Guides

See more popular content from

Article

Vietnam Is Now An Emerging Market – What Exactly Changes For Foreign Investors?

Vietnam has achieved FTSE Russell Secondary Emerging Market status, fundamentally changing its position in global capital markets. International investors now face critical strategic decisions about market access, foreign ownership limitations, and investment infrastructure as Vietnamese equities enter major global benchmarks through a phased implementation extending to September 2027.
VietnamFinance and Banking
Duane Morris LLP
Duane Morris LLP
Article

Vietnam’s Draft Reporting Rules Signal Intensive Supervision Of Crypto Exchanges

On September 15, 2026, Vietnam’s Ministry of Finance (MOF) released for public consultation a draft circular on reporting and information disclosure in the pilot crypto asset market. The draft implements Resolution No. 05/2025/NQ-CP on the Pilot Implementation of the Crypto Asset Market in Vietnam and provides further detail on how licensed crypto asset service providers (“CASPs”) will be supervised once the market becomes operational.
VietnamFinance and Banking
Tilleke & Gibbins
Tilleke & Gibbins
Article

VIETNAM’S MAGIC SEPTEMBER: THE FRONTIER ERA ENDS – THE GLOBAL INVESTMENT ERA BEGINS _FTSE Russell’s 21 September 2026 Emerging-Market Upgrade – What Global Equity Investors Must Do Now, Where The Opportunities Are, And How To Position For The Next 12 Months

Vietnam's scheduled reclassification by FTSE Russell from Frontier Market to Secondary Emerging Market status on 21 September 2026 represents a pivotal moment for global equity investors. The upgrade will be implemented in four stages over 12 months, bringing more than 100 Vietnamese stocks into major FTSE global benchmarks and significantly increasing the market's visibility to international capital. Strategic preparation, selective investment, and understanding the phased inclusion process are essential f
VietnamFinance and Banking
Duane Morris LLP
Duane Morris LLP
Article

Vietnam’s IPO Moment: From Frontier Market To The Global Investment Map

Vietnam's reclassification from Frontier Market to Secondary Emerging Market by FTSE Russell marks a pivotal transformation for the country's capital markets. This upgrade could fundamentally reshape how Vietnamese companies approach initial public offerings, potentially connecting them with billions in international institutional capital and creating pathways to major global equity indices. The shift raises critical questions about corporate governance standards, investor readiness, and whether Vietnam's s
VietnamFinance and Banking
Duane Morris LLP
Duane Morris LLP
Article

Vietnam Recognizes Cross-Border Payment Activities For Offshore Credit Institutions

Vietnam's State Bank has issued Circular 39, establishing a new regulatory framework that allows offshore credit institutions to conduct cross-border payment services through accounts held at Vietnam-based licensed banks. This development marks a significant shift from previous restrictions that limited non-resident account usage to their own transactions only. The new framework provides greater regulatory certainty for international banks, payment service providers, and fintech companies seeking to expand
VietnamFinance and Banking
Tilleke & Gibbins
Tilleke & Gibbins
Article

Today Is The Day For Vietnam

Vietnam officially transitions from Frontier Market to Secondary Emerging Market status under FTSE Russell's classification framework on September 21, 2026, marking the culmination of eight years of regulatory reform and capital market infrastructure improvements. This reclassification opens Vietnam to a fundamentally different international investment universe, making it eligible for inclusion in major global benchmarks followed by institutional investors worldwide.
VietnamFinance and Banking
Duane Morris LLP
Duane Morris LLP
Article

Vietnam’s Draft Decree On Non-Cash Payments Would Relax Requirements For IPS Providers

Vietnam's State Bank has proposed significant amendments to its non-cash payment regulations, introducing streamlined licensing procedures for intermediary payment service providers while expanding cross-border market access channels. The draft decree reduces documentation requirements and processing times, introduces partial license revocation mechanisms, and allows foreign payment providers to connect through licensed international financial switching services.
VietnamFinance and Banking
Tilleke & Gibbins
Tilleke & Gibbins