Asia Securities Forum AGM brings regional market leaders to Hanoi

The Asia Securities Forum's Annual General Meeting took place in Hanoi from September 30 to October 3, 2025. A key focus of the event was the forum titled "Investing in Vietnam – Advancing in the New Era," which examined investment opportunities, capital mobilization strategies, and the conditions needed for Vietnam to attract long-term international capital.

Vietnam hosted the forum for the first time ever, following its recent upgrade to Secondary Emerging Market status by FTSE Russell, which aligns with the country's goals for securities market development through 2030 as outlined in Decision No. 1726/QD-TTg. The forum provided a platform for financial institutions, securities associations, and international investors to learn about Vietnam's reforms in the capital market, as well as strengthen connections and share experiences in securities, bonds, green finance, ESG standards, and digital transformation.

Hoang Hai Anh, VASB's vice chairwoman and secretary general, noted that while the market upgrade is necessary, it alone is not enough to attract large-scale, long-term investments. She emphasized the importance of positioning Vietnam on the regional capital market map and offering advantages to international investors. She highlighted the need to strengthen corporate capabilities, particularly corporate governance, citing Japan and South Korea's experiences as examples.

Pham Phu Khoi, VBMA's vice chairman and secretary general, pointed out the growing demand for medium- and long-term funding in Vietnam's development phase. He expressed the importance of identifying funding sources to fill the gap between government, credit, and banking system resources and the economy's capital requirements. Khoi anticipated improvements in Vietnam's sovereign credit rating and bond issuers' creditworthiness following the market upgrade, which could lower borrowing costs and allow issuers to access funds on more favorable terms.

Foreign investor participation in Vietnam's bond market remains limited, as international bond investors heavily rely on sovereign and issuer credit ratings. Khoi expects the stock market upgrade to lead to enhanced credit ratings and more favorable borrowing conditions, potentially attracting capital inflows of $10-20 billion into Vietnam's bond market.

Despite global market trends creating an unfavorable environment for bond markets, Khoi encouraged Vietnamese companies to prepare for international capital access by strengthening internal capabilities. Hai Anh emphasized that despite global geopolitical, trade, and monetary policy shifts, Vietnam has an opportunity to attract international capital that combines growth potential with safety and stability, but this can only be achieved through comprehensive and parallel implementation of strategic strategies.