On February 3rd, the Vietnamese Ministry of Finance officially approved Circular No. 08/2026/TT-BTC. The document amends the exchange trading rules necessary for the country's transition from the "Frontier" category to "Emerging Markets" status.
Key Changes in Trading Rules
The new rules simplify technical procedures and remove barriers that previously limited the activity of foreign investors on local exchanges.
1. Abolition of the 100% Prepayment Requirement
Previously, a foreign investor was required to have the entire transaction amount in their account even before submitting an application to purchase shares. From February 3rd, this procedure changes: now settlements can be carried out upon the completion of the transaction. This practice is adopted on most global platforms.
2. Simplified Market Access
The new rules abolish the mandatory requirement for foreign participants to open accounts specifically in local Vietnamese banks. Now, operations can be conducted through international brokers.
3. Direct Operation of Global Brokers
International brokerage companies have been granted the right to submit applications to Vietnamese exchanges directly. Previously, the legislation required the mandatory participation of local intermediaries, which led to additional commissions and delayed the execution of transactions.
4. Publication of Reporting in English
According to the Circular, the largest companies listed on the exchanges in Ho Chi Minh City and Hanoi are now required to disclose financial information and important news in English. Thanks to this, international funds and private investors will be able to receive data simultaneously with Vietnamese market participants.
FTSE Russell has established the following schedule for monitoring the reforms:
- March 2026: an intermediate review will be conducted to assess how the new rules work in practice and how ready the technical infrastructure of the exchanges is for the current changes.
- September 21, 2026: the scheduled date when Vietnam should officially receive the status of an emerging market (Emerging Markets).
Economic Forecast
According to analysts' estimates, the change in status will ensure an inflow of foreign capital in the amount of $1.5 billion to $2.5 billion within the first year.
The main interest will be focused on the most liquid assets from the VN30 index. First of all, this will affect the shares of the largest banks and leaders of the construction sector.
The modernization of trading rules should turn the stock market into the main tool for attracting investments for the long-term growth of the country's economy.