Vietnam Strengthens Ties with FTSE Russell, Major Investment Funds to Boost Financial Market Internationalization

On the afternoon of September 17, Prime Minister Le Minh Hung met with Ms. Fiona Bassett, Chief Executive Officer of FTSE Russell, a global provider of financial market indices, and a delegation of representatives from BlackRock and Vanguard, two major global investment funds. During the meeting, discussions focused on strengthening cooperation to internationalize Vietnam's financial markets. FTSE Russell is known for its calculation and provision of global stock market indices, and collaboration with the organization is seen as a significant step towards making the Vietnamese market more attractive to international investors. Enhancing relationships with funds like BlackRock and Vanguard, which manage substantial assets, holds the potential to increase direct investment in Vietnam and foster the development of its capital markets. The Vietnamese government has been actively attracting foreign investment in recent years to sustain economic growth and boost the competitiveness of its domestic industries. In particular, the healthy development of capital markets is expected to lead to diversified funding sources and improved corporate governance, making this meeting a part of that strategy. Under its one-party system, Vietnam has been promoting a socialist-oriented market economy, achieving remarkable economic growth. However, deepening ties with international financial markets is crucial for long-term economic stability and development by promoting market transparency and introducing stricter regulatory standards. Furthermore, diversifying international partnerships is also considered important from the perspective of geopolitical risk diversification, given Vietnam's strong economic ties with China. Source: Nhan Dan