Vingroup and more than 100 other Vietnamese companies have been added to the FTSE Russell Global Equity Index series, marking a crucial step toward the nation's long-awaited transition from a frontier market to a secondary emerging market. The index provider announced in a statement that, following its semi-annual review, Vingroup, along with Hoa Phat Group, Vietnam Prosperity Joint Stock Commercial Bank, and Vinhomes, will be included in the closely watched emerging markets benchmark. According to the announcement, a total of six stocks have simultaneously been added to the widely influential FTSE Global All Cap Index.

Ruchir Desai, a fund manager at Asia Frontier Capital in Hong Kong, said ahead of the review results: "The related stocks could see positive sentiment." After a prolonged period as a frontier market, this inclusion is a milestone for Vietnam, placing its stock market in the same emerging market tier as India and other nations. Following an extended period of foreign net selling, investors are now focusing on whether this upgrade can trigger a fresh wave of foreign capital inflow.

This upgrade is also another sign that Vietnam has become a popular investment destination over the past decade. The country is among the world's fastest-growing economies and has been vigorously promoting its transformation from a low-cost manufacturing base to a hub for technological innovation. Funds betting on this index upgrade have already begun positioning in Vingroup, whose shares have risen 21% year-to-date, while the benchmark VN index is down nearly 1%. In 2025, as market expectations for the index reclassification intensified, Vingroup's full-year gain exceeded 700%.

FTSE Russell confirmed in April that Vietnam meets the criteria for secondary emerging market status. The upgrade will be implemented in four phases, running from September 21 through 2027. The index provider has previously estimated that this upgrade could bring up to $6 billion in additional capital to the Vietnamese market. Vietnam is also seeking an equivalent upgrade from MSCI. In June, MSCI noted that low free-float ratios for some companies and continued restrictions on foreign ownership are obstacles to Vietnam completing an index upgrade. MSCI stated that despite Vietnam's progress in capital market reforms, more than 10% of locally listed stocks still face foreign ownership limits.

Analysts anticipate that the potential capital inflows from this FTSE Russell adjustment could offset the persistent foreign selling pressure seen this year. Bloomberg-compiled data shows that as of August 21, 2026, overseas investors had net sold approximately $3.5 billion worth of Vietnamese stocks in 2026; last year, foreign net outflows hit a record $4.7 billion.