Vietnam is finally a FTSE emerging market -- yet it's the country's banks, not its exporters, that'll benefit most | Fortune

Vietnam entered FTSE Russell’s emerging market category on Sept. 21, a move described by experts as an “important milestone” and a form of external validation for economic development and financial market reforms. The upgrade places Vietnam alongside Thailand, Malaysia, Indonesia and the Philippines. The index change could potentially attract up to $6 billion of foreign capital, as investors often use FTSE and MSCI benchmarks to guide allocations. Vietnam also aims to raise $76 billion a year through its capital markets by 2030 to reduce reliance on bank credit. FTSE added 27 Vietnamese companies—including Masan Group, VietJet Aviation and Gelex Group—raising global visibility, though analysts caution that index-linked flows follow index rules rather than the economy’s structure. Vietnam reported 8.2% growth in the first half of 2026 and exports rose more than 20% in the first seven months, despite a 20% U.S. tariff.