Nasdaq ready to support Vietnam’s capital market following upgrade
Chairwoman of the State Securities Commission of Vietnam (SSC), Vu Thi Chan Phuong, had a working session with Robert H. McCooey Jr. (Bob McCooey), Vice Chairman at Nasdaq in New York on August 26 (local time).
On August 27, the State Securities Commission (SSC) of Vietnam held a working session with Robert H. McCooey Jr., the Vice Chairman of Nasdaq, in New York. This meeting is part of a broader trip to the United States. During the session, SSC Chairwoman Vu Thi Chan Phuong discussed the growth of Vietnam's stock market, highlighting reforms in legal framework, market mechanisms, and infrastructure to increase transparency, efficiency, and accessibility for international investors.
She emphasized that FTSE Russell's upgrade of Vietnam from a Frontier Market to a Secondary Emerging Market status presents new opportunities to attract additional capital inflows and international investors, spurring greater interest from U.S. investors in the market. Ms. Phuong also reiterated Vietnam's commitment to enhancing market quality, diversifying financial products, improving market management and supervision, and creating more favorable conditions for both domestic and international investors.
Nasdaq Vice Chairman Bob McCooey praised Vietnam's stock market achievements and congratulated the country on its market upgrade. He characterized Vietnam as a dynamic market with significant potential to attract U.S. and international investors. McCooey affirmed Nasdaq's readiness to continue supporting the SSC in the market's new phase of development.
The two sides discussed areas of cooperation to strengthen connections between the Vietnamese and U.S. capital markets, focusing on linking Vietnamese enterprises with financial institutions, investment banks, and international investors. Nasdaq expressed its willingness to utilize its network and expertise to facilitate business connections, introduce investment opportunities, and assist Vietnamese enterprises in exploring appropriate methods for raising capital in international markets.
In September 2023, the SSC and Nasdaq signed a Letter of Intent for cooperation in New York, aimed at promoting investment, developing Vietnam's capital market, strengthening business connectivity, and supporting Vietnamese enterprises in accessing international capital markets. Since then, the two parties have maintained regular communication, shared experiences, and deepened cooperation in areas of mutual interest.
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