SEPTEMBER 2026 NEWS HIGHLIGHTS

September 2026 saw a number of notable developments in Vietnam’s financial market and in the ongoing efforts to bring the Vietnam International Financial Centre in Ho Chi Minh City (VIFC-HCMC) into substantive operation. Key highlights included Vietnam’s official inclusion in FTSE Russell’s Secondary Emerging Market category, growing interest from international financial institutions, new developments in cross-border payments, as well as preparations for capital-raising products and strengthened international cooperation in capital markets, green finance, and human capital development.

VIFC-HCMC Holds Consultation on Draft Resolution Governing Municipal and Project Bond Issuance

On September 9, VIFC-HCMC held a consultation on a draft Ho Chi Minh City People’s Council resolution governing municipal and project bond issuance within the Vietnam International Financial Centre. The initiative is intended to establish a new medium- and long-term financing channel for strategic projects including metro systems, port and logistics infrastructure, and energy. Discussions focused on the legal framework, issuance structures, foreign exchange, interest-rate and liquidity risks, registration, depository and settlement infrastructure, disclosure requirements, and the development of green and sustainable bonds.

JPMorgan to Include Vietnam in New Frontier Local-Currency Debt Index

On September 14, JPMorgan announced plans to launch the GBI-EM Edge index by the end of the month, covering approximately US$330 billion of local-currency government debt across 26 economies, including Vietnam. The benchmark provides an additional international reference point for Vietnam’s domestic bond market.

UK Cooperation Moves from Broad Support to Four Concrete Priority Areas

At the UK–Vietnam Financial Services Summit 2026 on September 14, Ho Chi Minh City proposed four priority areas for cooperation with the United Kingdom: capital market development, green finance, financial innovation and human resource development. Cooperation also covers long-term capital mobilization, climate finance, dispute resolution and international-standard legal and investment frameworks, with further discussions held with the City of London on September 15.

VIFC-HCMC Moves Toward Its First Capital-Raising Products

VIFC-HCMC is moving from institutional development toward substantive operations, with municipal and project bonds identified as foundational financing products under preparation. These instruments are intended to mobilize medium- and long-term capital for strategic Ho Chi Minh City projects and connect institutional investors with the real economy.

VIFC-HCMC and ACCA Strengthen International-Standard Execution Capacity

On September 17, the ACCA-VIFC Forum 2026 focused on international standards, financial and accounting talent, governance, transparency and global expert connectivity. Cooperation with ACCA supports VIFC-HCMC’s efforts to strengthen execution capacity and develop a multi-partner professional training ecosystem.

Foreign Capital Responds Ahead of Vietnam’s FTSE Upgrade

Between September 14 and 18, foreign investors recorded approximately US$104 million in net purchases on the Ho Chi Minh Stock Exchange. Market estimates suggest that passive and active fund reallocations could potentially generate several billion dollars of additional investment as Vietnam enters FTSE Russell’s emerging market benchmarks.

Vanguard Plans to Invest Around US$2.5 Billion in Vietnam

On September 18, Vanguard said it expects to invest around US$2.5 billion in Vietnam over the coming years, alongside Vietnam’s inclusion in FTSE Russell’s emerging market benchmarks. The figure represents an announced investment intention rather than capital already fully deployed.

Circular 39 Takes Effect, Expanding the Framework for Cross-Border Payments

Effective September 19, Circular No. 39/2026/TT-NHNN allows non-resident foreign credit institutions to conduct international payments and money transfers through foreign-currency and Vietnamese-dong accounts maintained at authorized banks in Vietnam, strengthening the regulatory framework for cross-border payments.