BSC Insight | Road to Emerging Market (Part 3) - Approaching the final milestone

Vietnam’s stock market is at a pivotal stage, nearing the point at which FTSE Russell will consider upgrading the country to Emerging Market status. This milestone carries significant implications, expected to attract a substantial wave of foreign capital and unlock new investment opportunities. To provide investors with the most comprehensive and in-depth perspective, the Analysis & Research Department of BIDV Securities (BSC) is pleased to publish Thematic report part 3:" Road to Emerging Market- Approaching the final milestone" 
This report is the result of in-depth research, updating the latest developments and offering crucial forecasts to help investors capture market opportunities.
Key Highlights of the Report:
1. Overview of the Upgrade Roadmap: An in-depth analysis of the strategic decisions by the Government and regulators, updated progress on meeting FTSE Russell’s criteria as of September 2025, and comparisons with the successful upgrade experiences of other Asian markets.
2. Capital Flow Forecast and Key Milestones:The report projects that Vietnam could be granted an upgrade by FTSE Russell in the October 2025 review, with estimated potential capital inflows under various scenarios.
3. Potential Stock List: Based on the stringent screening standards of the FTSE Emerging Markets All Cap Index, the report identifies the most likely candidate stocks to be included in the benchmark and to benefit directly from ETF inflows following the upgrade.
4. Analysis of Major ETF Dynamics: A detailed look at recent significant foreign ETF outflows, particularly from Fubon and Xtrackers ETFs, which may indicate preparatory positioning ahead of the anticipated market reclassification.