Hanoi, Vietnam – Nguyen Sinh Nhat Tan, Vietnam’s Deputy Minister of Industry and Trade, met with Iain Frew, the British Ambassador to Vietnam, at a workshop focused on developing a modern, transparent and internationally connected commodity and derivatives market in Vietnam. The event, co-hosted by the British Embassy and Consulate General and Boston Consulting Group (BCG), brought together domestic and international scientists and experts, according to a statement released by the Vietnamese Ministry of Industry and Trade.
The workshop centered on the roadmap for establishing an International Financial Centre (IFC) in Vietnam, with a key component being the development of a robust commodity and derivatives market. Vietnam is actively working to improve its legal framework and promote the development of commodity trading markets.
“Vietnam aims to build an international financial center connecting the region and the world,” stated Deputy Minister Nguyen Sinh Nhat Tan during the opening session. “A derivatives trading market plays a crucial role in enhancing market transparency, supporting businesses in managing price risks, and attracting international investment capital.”
The Vietnamese government recently issued Decree No. 330/2025/ND-CP regarding the establishment and operation of commodity exchanges within the Vietnam International Financial Centre. This decree establishes a flexible legal framework aligned with international practices and mandates an independent clearinghouse model to strengthen system security and risk management. Deputy Minister Tan noted that market transaction volume is projected to reach approximately 1.54 million contracts in 2025, a more than 34% increase year-on-year, with a total transaction value exceeding VND 1.9 trillion, indicating improving market liquidity.
However, Nguyen Sinh Nhat Tan acknowledged that the integration between derivatives trading and the domestic physical commodity market remains limited. He stated that Vietnam plans to pilot transactions of several key commodities through exchanges, gradually establishing domestic benchmark prices and strengthening Vietnam’s pricing power in international markets.
The workshop program was structured around four thematic sessions: an overview of global commodity and derivatives markets, including development models and international lessons; market design choices, including exchange, clearinghouse, legal framework, and commodity portfolio structuring; risk management and market supervision, sharing international experiences in post-crisis governance; and international cooperation and liquidity activation, focusing on attracting international investors and building trust in emerging markets. Each session incorporated interactive elements like group discussions and case studies to support regulators identify future priorities.
Ambassador Iain Frew highlighted the UK’s increasing support for Vietnam’s development. “We recognize the leading role of the Ministry of Industry and Trade, particularly the Agency for Domestic Markets, in implementing this groundbreaking reform through international standard research, legal framework review, and close collaboration with relevant ministries, agencies, experts, and the business community,” Frew said. “The UK believes Vietnam is well-positioned to become a leading destination for commodity and derivatives trading in the region. We are proud to partner with Vietnam on its journey to develop an international financial center and build a world-class commodity and derivatives market.”
Vietnam intends to launch a pilot program in 2026 integrating spot, futures, and derivatives contracts for several key agricultural products. This model aims to create a comprehensive ecosystem centered around commodity exchanges, connecting production areas with export, processing, logistics, warehousing, finance, and investment activities. Increased exchange trading of export commodities is expected to improve selling prices, stabilize exports, and generate positive spillover effects for finance, logistics, and domestic markets.
