HANOI : Vietnam risks missing a self-established 2025 deadline to complete reforms that would enable it to upgrade its stock market to emerging economy status and attract billions of dollars in investments, three officials told Reuters.The delays have been caused by infighting between state institutions a
HANOI : Vietnam risks missing a self-established 2025 deadline to complete reforms that would enable it to upgrade its stock market to emerging economy status and attract billions of dollars in investments, three officials told Reuters.
Despite being an open economy that relies on offshore industrial investment and whose total exports are as much as its gross domestic product, Vietnam has shielded its equity market by limiting foreign investor access. But infighting is delaying much-needed market reforms, three officials familiar with the discussions said. They all declined to be named because talks are internal.
Other internal estimates, which one of the sources shared with Reuters, also pointed to an initial gain of between $5 billion and $8 billion, even if only a few stocks were eligible for inclusion, thanks to passive fund flows. Index manager FTSE Russell added Vietnam in 2018 to its watchlist of frontier economies that could be upgraded, but"progress has been slower than anticipated", it said in its latest update in September on equity reclassifications.
Investors usually settle their trades two days after a deal in open markets, but in Vietnam they have to ensure the availability of funds prior to trade execution, which adds a significant cost for traders who execute multiple daily operations.
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