Only 10 FDI companies listed in Vietnam, an 'extremely small figure': market watchdog

Despite their strong presence and significant contribution to Vietnam’s economy, the number of FDI enterprises listed on the local stock market remains far below potential, said State Securities Commission (SSC) chairwoman Vu Thi Chan Phuong.

There were 11 FDI firms listed or registered for trading on the Ho Chi Minh City or Hanoi bourses from 2003 to 2017. Currently, only 10 remain on the exchanges - an extremely small figure compared to the total of about 1,600 listed or registered firms.

"Meanwhile, many long-standing, well-performing FDI enterprises with strong revenue and profit have expressed interest in listing in Vietnam," Phuong told a conference on Tuesday to disseminate key provisions regarding the listing or registration of FDI companies.

"The current issue is not whether FDI companies are allowed to list, but what they contribute to the market and society, and how well they comply with regulations.

“If Vietnamese companies can list on international markets, then FDI enterprises who have already been present, invested, and contributed significantly to Vietnam fully deserve to be listed in the country,” she added.

Accordingly, the SSC has received approval from the Government and the Ministry of Finance to create more favorable conditions for FDI enterprises to register for trading or list, including removing obstacles.

"The participation of high-quality FDI firms will enrich market products, attract more international investors, enhance Vietnam’s market integration, and help balance the proportion of industries, increasing the share of manufacturing and trading companies alongside the currently dominant financial, banking, and real estate sectors," she added.

No distinction between domestic and FDI enterprises

In recent years, the SSC has implemented various solutions to create favorable conditions for enterprises and investors.

Notably, Decree 245/2025/ND-CP amends regulations on initial public offerings (IPOs), shortening the post-IPO listing process. Instead of waiting years as before, enterprises can now list or register for trading within about 30 days after IPO approval, carrying out IPO and listing procedures in parallel.

SSC vice chairman Hoang Van Thu highlighted that as early as 2019, the Politburo issued Resolution 50, affirming that the FDI sector is an integral component of the Vietnamese economy. Therefore, conditions must be created to support FDI enterprises operating long-term in Vietnam, with no distinction between domestic and foreign-invested firms.

Following this direction, the SSC has reviewed regulations to enable FDI enterprises to participate in the market on the same footing as domestic companies, he noted.

“After the commitments and conditions stated in their investment registration certificates are removed, if FDI firms meet all requirements under Vietnam’s Securities Law, they can fully join the Vietnamese stock market like any domestic enterprise, without any barriers or discrimination,” Thu added.

Vietnam’s benchmark VN-Index, which represents the Ho Chi Minh Stock Exchange (HoSE), went down more than 6 points to below 1,750 on Tuesday, snapping its nine-session gaining streak, due to a broad sell-off by investors.

234 stocks declined, while fewer than 100 advanced. The large-cap basket showed even stronger divergence, with 25 tickers closing below their reference levels, five times the number of gainers.

However, liquidity improved significantly. The trading value on the HoSE reached nearly VND29.5 trillion ($1.12 billion), the highest in a month. Foreign investors sold a net VND2.4 trillion ($91 million), their heaviest outflow since mid-September.