Vietnam fund management sector enters new growth phase
Vietnam fund management sector enters new growth phase
Vietnam’s fund management industry is entering a pivotal phase, with regulatory reforms and global market alignment driving a shift towards greater transparency, professionalism, and sustainability.
On October 17, the State Securities Commission (SSC), chaired by Minister of Finance Nguyen Van Thang, convened a high-level conference on developing the securities market and attracting foreign indirect investment. The event focused on shaping forward-looking policies to enhance Vietnam’s position as a dynamic and globally connected fund management hub capable of effectively mobilising international capital for economic growth.
The conference gathered Ho Ky Minh, Standing Vice Chairman of Danang People’s Committee; leaders from the National Assembly, and the Ho Chi Minh City and Danang People’s Committees.
Also present were Vu Thi Chan Phuong, chairwoman of the SSC, representatives from the Ministry of Finance, stock exchanges, and the Vietnam Securities Depository and Clearing Corporation, along with fund management companies, securities firms, domestic and foreign banks, and representatives of the World Bank, International Finance Corporation, Japan International Cooperation Agency, the Australian Embassy, and Austrade in Vietnam.
In his opening remarks, Minister Thang stated that as the global economy continues its recovery and Vietnam’s economy maintains stable growth, the fund management industry is being presented with many opportunities for innovation, development, and integration.
"Improving professionalism, transparency, and efficiency in fund management is essential for connecting capital flows, building a sustainable securities market, and attracting greater foreign investment to support national growth in the new era," said Thang.
Thang noted that after nearly 40 years of reform, Vietnam has achieved significant economic and social progress through consistent policies that encourage investment diversification and effectively entice both domestic and foreign capital.
"With continuous efforts, Vietnam’s average GDP growth during 2021-2025 is expected to reach about 6.3 per cent per year, among the highest in the region and the world," he added.
Minister of Finance Nguyen Van Thang. Photo: Le Toan |
According to the minister, amid a positive macroeconomic landscape, Vietnam’s stock market has made significant contributions to economic growth, gradually becoming an important medium- and long-term capital mobilisation channel.
As of the first nine months of 2025, total capital mobilised through the stock market reached $15.8 billion. Market capitalisation of listed stocks accounted for 78.5 per cent of GDP, while the bond market’s outstanding balance represented 22.3 per cent of GDP. Average trading value in the equity market rose by nearly 39 per cent compared to the previous year, and by 27.7 per cent in the bond market.
The number of investor accounts reached over 11 million by the end of September, up 19 per cent from the end of 2024, including more than 18,800 institutional domestic investors and nearly 48,000 foreign investor accounts.
"In the course of developing Vietnam’s securities market, the fund management industry has made impressive strides, contributing increasingly to the capital market’s sustainable growth," said Thang. "Today, 43 licensed fund management companies oversee assets totalling $32 billion – more than seven times the 2014 figure, with average annual growth of about 20 per cent."
However, the minister pointed out that compared with regional peers such as Thailand and Malaysia, Vietnam’s ratio of assets under management to GDP remains modest, at just over 6 per cent, indicating substantial growth potential.
He also announced that on October 8, FTSE Russell officially upgraded Vietnam’s stock market from frontier to secondary emerging status, marking a major step towards strengthening Vietnam’s global financial standing and underscores its steady integration into the international financial system.
“This milestone reflects the strong coordination among ministries, the State Bank, market institutions, and the media, along with valuable support from the World Bank, FTSE Russell experts, and global investors,” Thang said. “It demonstrates the Ministry of Finance and SSC’s determination to advance comprehensive reforms and align Vietnam’s capital market with global standards.”
He added, “The market upgrade will open new opportunities to attract foreign investment and channel more capital into economic growth. It marks a major step forward, helping diversify the investor base, increase institutional participation, and foster a more professional, sustainable fund management industry.”
Minister of Finance Nguyen Van Thang exchanging views with delegates. Photo: Le Toan |
According to Minister Thang, the Ministry of Finance has proposed bold policies to build a transparent, open, and globally aligned investment environment, stimulating growth, unlocking resources, and driving national development.
He added that several major legal frameworks and strategic initiatives have been submitted to the government and National Assembly, including the Resolution on establishing an international financial centre in Vietnam, the Stock Market Upgrade Scheme, and the Master Plan on Investor Restructuring and Fund Industry Development.
These initiatives aim to support Resolution No. 68-NQ/TW on private sector development, which calls for integrating private sector growth into national strategies and mobilising all available resources to drive socioeconomic progress.
Upon declaring the conference officially open, Minister Thang said, “Your practical and constructive insights will help the Ministry of Finance refine the policy framework and advise the government on advancing the fund management industry and securities market, attracting foreign investment, and encouraging greater public and corporate participation in the capital market.”
He added, “These efforts will help mobilise domestic and international capital – especially high-quality foreign investment – towards high-value, technology-driven, and environmentally sustainable sectors, contributing to Vietnam’s socioeconomic growth in this new era.”
- 09:47 20/10/2025
