Vietnam has set its sights on upgrading its stock market from a frontier to an emerging market by 2025, according to Vu Thi Chan Phurong, Chairwoman of the State Securities Commission of Vietnam. The recent legislative measures, including the 2019 Securities Law and the 2020 Investment Law, have bolstered investment conditions and market transparency, aligning more closely with criteria for market upgrades. The country’s stock market has grown in size, liquidity, and transparency, with top businesses like those in the VN30 Index now releasing information in English. Financial experts indicate that market classifications by MSCI and FTSE Russell still label Vietnam as a frontier market, despite its rapid economic growth. Upgrading to emerging status could attract billions in annual investment, but challenges remain, including foreign ownership limits and prefunding requirements.