Though still officially considered a Frontier Market by rating organizations around the world, Vietnam’s stock market has been evaluated quite positively in recent years by foreign institutional investors and compared favorably to a number of other stock markets in the Emerging Market category. Some foreign investment funds that usually only specialize in investing in Emerging Markets have begun to study and invest in Vietnam. When the market is upgraded, businesses will have more opportunities to access potential foreign investment flows, and Vietnam will grow in appeal among investors and receive large capital flows from investment funds around the world. Foreign investment capital flows through ETFs (exchange traded funds) referenced by the MSCI and FTSE indexes are expected to find their way to Vietnam’s stock market on a significant scale. The upgrade is also associated with Vietnam aiming to become an international financial center, which forms a large part of its national development strategy.