(Feb 28): Vietnam will encourage more initial public offerings and shares sales to boost its stock market, including allowing foreign-owned businesses to list, according to a government website post.

The Ministry of Planning and Investment has asked the finance ministry and Stock Securities Commission to work on steps to facilitate the trading of foreign companies on the stock exchange under certain conditions, Deputy Minister Nguyen Thi Bich Ngoc was quoted as saying at a Hanoi conference Wednesday.

The bourse must continue to diversify its financial products and encourage more public offerings, according to State Securities Commission Chairwoman Vu Thi Chan Phuong. In 2023, capital raised in the Vietnam stock market rose 33.5% to 418.27 trillion dong (RM81 billion), she said.

Vietnam in early February said its officials will work to resolve a legacy issue in its stock market that’s stopping international rating organisations from upgrading local equities to emerging market status.