Nasdaq Congratulates Vietnam’s Stock Market on Official Upgrade Announced by FTSE Russell

On the afternoon of October 8, 2025, at the headquarters of the State Securities Commission of Vietnam (SSC), Madam Vu Thi Chan Phuong, Chairwoman of the SSC, held a meeting with Mr. Bob McCooey, Vice Chairman and Global Head of International Listings at Nasdaq, during his business trip to Vietnam.

During the meeting, Chairwoman Vu Thi Chan Phuong expressed her pleasure at reconnecting with Mr. McCooey following their previous meeting during the working trip of Prime Minister Pham Minh Chinh to Nasdaq, where the two sides signed a Letter of Intent on cooperation.

She emphasized the special significance of this meeting, which took place at a momentous time when FTSE Russell officially announced the upgrade of Vietnam’s stock market from a Frontier Market to a Secondary Emerging Market.

Chairwoman of the State Securities Commission of Vietnam (SSC), Ms. Vu Thi Chan Phuong, during the meeting

During the discussion, Chairwoman Vu Thi Chan Phuong informed Mr. McCooey that Vietnam has been actively improving its legal framework and implementing various institutional reforms to further develop its securities market.

Recently, the SSC issued a Regulation on coordination in reviewing applications for initial public offerings (IPOs) simultaneously with listing applications. This marks an important step forward in administrative reform, helping to enhance capital mobilization efficiency and protect investors’ rights in the securities market.

The Chairwoman added that the SSC encourages qualified Vietnamese enterprises to pursue listings on international markets, particularly on Nasdaq. At the same time, the SSC also pays close attention to promoting the issuance of Depository Receipts (DRs) in the United States.

Earlier, in July 2025, the SSC, in collaboration with Nasdaq and ASEAN partners, successfully organized a conference on IPOs and Depository Receipt issuance.

The SSC hopes that Nasdaq will continue close cooperation, creating favorable conditions for Vietnamese enterprises, and assisting in information dissemination and outreach so that businesses can better understand and seize opportunities to issue Depository Receipts in international markets.

Mr. Bob McCooey (second from left), Vice Chairman and Global Head of International Listings at Nasdaq, speaks at the meeting

Speaking at the meeting, Mr. Bob McCooey, Vice Chairman and Global Head of International Listings at Nasdaq, congratulated Vietnam’s stock market on its official upgrade as announced by FTSE Russell, and affirmed that Nasdaq stands ready to cooperate with and support the SSC in areas of mutual interest. He also expressed his hope that Vietnamese enterprises will achieve success as they expand into international markets.

Mr. McCooey highly appreciated the strong entrepreneurial spirit in Vietnam, noting that a combination of domestic listings, capital raising, and overseas listings would help promote Vietnam’s image on the global stage.

He emphasized that Vietnam is a dynamic and fast-growing economy with great potential to attract investors from the United States and around the world. Nasdaq, he said, hopes to serve as a bridge and partner to the SSC and Vietnamese enterprises — not only in listing and capital-raising activities, but also in technology and market surveillance, drawing on Nasdaq’s experience working with more than 130 exchanges worldwide.