HÀ NỘI — The Mercantile Exchange of Vietnam (MXV) has celebrated its 15th anniversary, marking a significant milestone in the development of the country’s domestic commodity trading market. Since its establishment, MXV has transformed from a modest platform into a key player linking Việt Nam to the global commodity market.

Licensed by the Ministry of Industry and Trade under Decree 158/2006/NĐ-CP, MXV officially launched on September 1, 2010 with just three commodities: coffee, rubber and steel.

Its early years were marked by considerable challenges, including building technical infrastructure, navigating a complex legal framework and raising awareness among businesses and investors.

A turning point came in 2018 when Decree 51/2018/NĐ-CP allowed MXV to connect directly with leading global commodity exchanges such as CME Group, ICE, LME, SGX, OSE and BMD. This move accelerated MXV’s growth and, by 2021, the exchange counted 32 trading entities, four brokerage firms and 38 listed commodities.

This global integration provided Vietnamese businesses with access to greater liquidity and transparent pricing mechanisms that reflect international supply and demand. It also helped embed the commodity sector into the national financial system, contributing to GDP growth and improving Việt Nam’s competitiveness.

Since 2021, MXV’s portfolio has expanded rapidly to over 50 commodities across four main groups: agricultural products, industrial materials, energy and metals. The exchange is also developing trading floors for rubber and pork, which are expected to be officially listed soon.

Recognising the strategic importance of commodity trading, the government has identified it as one of the three pillars of the international financial centre (IFC), alongside finance, banking and fintech and securities, investment funds and insurance.

A modern commodity exchange not only diversifies financial products but also strengthens the link between Việt Nam’s market and global markets, supporting production, exports and foreign investment.

With the ambition to become the largest commodity exchange in the region by 2030, MXV plans to continue expanding its product range, standardising procedures, upgrading human resources and improving the legal framework. — BIZHUB/VNS