Strategic Insight: Final destination of the journey?

We believe that Vietnam’s stock market will be upgraded to Secondary Emerging Market status by FTSE Russell, with the official announcement expected on Oct 7, 2025. Moreover, Vietnamese stocks could be included in the index portfolios starting from Mar 2026. We estimate that foreign capital inflows could reach USD362mn to USD1.2bn as ETFs allocate to Vietnam in 2026, enhancing liquidity and increasing trading values on local exchanges.