The move aims to translate market development objectives into concrete action while laying the groundwork for further improvements to the legal framework, as the draft Law on Commodity Derivatives Trading currently under development and scheduled to be submitted to the National Assembly for consideration.
Viet Nam’s commodity derivatives market is approaching a major turning point as the country simultaneously strives to complete its legal framework and develop modern, transparent market infrastructure with international connectivity.
The Ministry of Industry and Trade’s approval of the scheme for developing the commodity derivatives trading market for 2026–2030, with a vision to 2045, is expected to introduce additional price-risk hedging instruments that will enable businesses to respond more proactively to increasingly unpredictable fluctuations in commodity markets.
In practice, Viet Nam has a highly open economy, while many of its key commodities, including agricultural products, energy, and metals, are frequently affected by international price fluctuations. When used correctly, derivatives can help businesses and producers hedge against price risks rather than remain entirely exposed to market volatility.
The Ministry of Industry and Trade has also identified developing the Law on Commodity Derivatives Trading as necessary to address gaps in the existing legal framework.
For the market to develop meaningfully, the first priority is to strengthen the institutional framework. The draft Law on Commodity Derivatives Trading is being developed to establish a unified regulatory framework covering products, market participants, trading methods, market infrastructure, clearing and settlement, risk management, and activities involving foreign elements.
The aim is to establish a transparent and secure market while minimising overlaps with legislation governing securities, banking, foreign exchange, and other specialised sectors. Alongside the legal framework, market infrastructure must also be developed cohesively, covering trading systems, clearing and settlement, margin requirements, collateral management, warehousing, warehouse receipts, and data connectivity.
These elements are crucial to enable the derivatives market to connect with the physical commodities market, thereby improving price discovery and the effectiveness of benchmark pricing.
A notable preparatory step was taken on September 3, 2026, when the Ministry of Industry and Trade issued Circular No. 47/2026/TT-BCT, outlinging requirements for applications to establish commodity exchanges, reporting obligations, and data connectivity.
previously, the Government had issued Decree No. 302/2026/ND-CP, detailing regulations on the purchase and sale of goods through commodity exchanges.
Alongside efforts to complete the legal framework, the scheme calls for a broader range of market participants and products, stronger professional expertise and risk management, lower transaction costs, and increasing connectivity with international markets.
These are also key concerns for the business community. According to the Viet Nam Chamber of Commerce and Industry (VCCI), issues such as margin requirements, accounting costs, market access, and connectivity with existing financial institutions still need to be addressed.
Therefore, the scheme’s approval represents more than the introduction of an additional commodity trading channel. More importantly, it lays the foundation for the derivatives market to become an integral part of the real economy, helping businesses manage price risks more effectively, strengthen their competitiveness, and gradually integrate Vietnamese commodities more deeply into global supply chains and international markets.
