Vietnam Stock Market 2025: 8 Leading Stocks Investors Must Know

Vietnam is Writing a New Chapter in the Asian Stock Market

If you haven’t paid attention to the Vietnamese stock market yet, it might be time to change your perspective. This market is no longer just a small niche; it has become one of Asia’s highlights.

The numbers speak clearly: Vietnam’s GDP expanded by 7.09% in 2023 and is expected to grow by 6.7% in 2024, which is three times higher than Thailand. Listed companies in Vietnam are experiencing profit growth rates of 15-20% annually—something rare in global markets.

Why should this market be on your radar?

Official upgrade to a frontier market

Vietnam is undergoing a major transformation—from a frontier market (Frontier Market) to an emerging market (Emerging Market) of MSCI by 2024. This is no small feat.

Why is this important? When Vietnam is upgraded, global funds that track the MSCI Emerging Markets index will need to adjust their portfolios to include Vietnamese stocks. According to MSCI data as of March 15, 2023, Vietnam leads the frontier markets group with a 28.8% weight in the MSCI Frontier index.

The flow of investment capital that follows will be enormous—since global funds for emerging markets amount to about $6.8 trillion, compared to just $100 billion in frontier markets.

After the correction: a golden buying opportunity

In early April 2024, the market experienced a major correction—VN Index dropped over 75 points—not due to domestic issues, but external factors (Customs tariffs, global market concerns).

The reality: Such corrections are often overreactions. Vietnam’s economic fundamentals remain strong. Experienced investors call this “buying the blood.”

8 Vietnamese stocks to watch closely

Financial sector: VCB (Vietcombank) - The giant that’s unshakable

Think of VCB as Vietnam’s “Siam Commercial Bank + Kasikornbank”—the largest and most influential bank, with the highest market cap on the Vietnamese stock exchange.

Why watch:

• As Vietnam grows, credit demand and financial services soar
• Banking access in Vietnam is still below developed countries = huge growth gap
• Digital technology is transforming banking; VCB is adapting
• The Vietnamese government supports financial system development, with VCB at the center

Data: VCB is a “Core Stock” that foreign institutional investors often hold in their portfolios.

Real estate: VHM (Vinhomes) - Investing in urban expansion

VHM remains strong despite turbulence in the real estate sector. It is a flagship of Vingroup—the largest conglomerate in Vietnam (accounting for 2.2% of Vietnam’s GDP).

Supporting factors:

• Rapid rise of the middle class seeking quality housing
• Urban expansion still in early stages—Vietnam’s urbanization rate is lower than Thailand’s
• Infrastructure (roads, metro lines) is developing, adding value to VHM projects

Long-term outlook: Although economic cycles cause volatility, the growth trend is certain.

Energy: GAS (Petrovietnam Gas) - The stability needed

GAS is like Thailand’s “PTT”—a strategic state energy organization with concessions and access to stable resource sources.

Why follow:

• In the digital age, energy demand is rising (Data centers at the end of the month)
• Natural gas is a “cleaner” alternative—Vietnam aims to reduce emissions
• As Vietnam continues to develop, energy demand will not stop

Data: Despite global energy price fluctuations, GAS has a relatively strong “floor” due to domestic demand.

Consumer products: VNM (Vinamilk) - A household staple

Vinamilk dominates the dairy and milk products market in Vietnam, with a valuation of $6.48 billion—very large for a regional dairy brand.

Growth drivers:

• Per capita milk consumption in Vietnam is still below Thailand and Malaysia—huge gap
• As income rises, consumers prefer higher-quality and healthier products
• Export profits to 40+ countries continue to expand

Bonus: VNM pays regular dividends—ideal for investors seeking both growth and income.

( Technology: FPT - The future star

FPT isn’t exactly the “Google of Vietnam,” but it is the leading exporter of IT services to the global tech industry.

Positioning:

• High-quality IT personnel with lower wages than developed countries—competitive advantage
• In the AI, Cloud Computing, Big Data era, developer community demand is increasing
• Some analysts believe FPT could become Vietnam’s largest market cap stock within 10 years

Positive risk: If the AI revolution takes off, this is where talent from around the world will flock.

) Supply & Retail: MSN ###Masan Group### - The “do everything” icon

MSN symbolizes Vietnam’s “do everything” approach—from instant noodles (Omachi, Kokomi), seasonings (Chin-su), to VinMart+.

Plus points:

• Acquiring VinCommerce makes MSN owner of VinMart+ (3,000+ stores)
• Changing consumer behavior; MSN adapts with health-conscious and premium products
• Entering the middle-class world

( Shopping malls: VRE )Vincom Retail### - The hub of urban life

VRE is Vietnam’s “Central Pattana,” developing and managing key shopping centers.

Why interesting:

• The new middle class favors malls—shopping, dining, relaxing all in one place
• Global brands (Zara, H&M, Uniqlo) are entering Vietnam, boosting VRE’s appeal
• Despite e-commerce growth, malls still play a central role in city life

( Airport management: ACV )Airports Corporation of Vietnam### - Growing nonstop

ACV manages almost all airports in Vietnam, including Tan Son Nhat (Ho Chi Minh City) and Noi Bai (Hanoi)—similar to “AOT” in Thailand.

Why now:

• Vietnam’s tourism is recovering strongly post-COVID
• Major project: Long Thanh Airport near Ho Chi Minh City—capacity of 100 million passengers/year when completed
• In this era, air travel is rebounding—ACV benefits directly

How to choose for beginners

( Option 1: Thai brokers )Convenient but high fees###

Kasikornbank Securities, SCB Securities, Bualuang Securities, etc., offer accounts and trading services for Vietnamese stocks. Just submit documents and deposit funds.

Pros: Thai language, easy check, no travel needed Cons: Higher fees

( Option 2: Vietnamese brokers )Lower fees but complicated###

SSI Securities, VNDirect, HSC, etc. Open accounts directly—some require travel to Vietnam, others online.

Pros: Lower fees, direct access to info Cons: Language barriers, paperwork complexity

( Option 3: Mutual funds )Easiest###

Funds like TMB Eastspring Vietnam Equity Fund, Bualuang Vietnam Equity Fund, etc., purchased via Thai bank apps.

Pros: No need to analyze yourself, managed by professionals, diversified risk Cons: Redemption fees may be high, trust in fund managers required

( Option 4: International online platforms

Interactive Brokers, Saxo Bank, Tiger Brokers, etc.

Pros: Low fees, good analysis tools Cons: Some platforms lack Thai language support; learning curve required

What should investors do now?

1. Be cautious during the correction—stay calm – not a sell signal, but a buying opportunity if you believe in Vietnam’s economic fundamentals.
2. Do your homework – check profit and dividend payout of each stock, not just price.
3. Choose the investment method that suits you – no need to be a hero; brokers offer options for everyone.
4. Invest long-term – Vietnam’s stock market is poised for growth over the next 5-10 years, not for speculation.

Estimated live figures for 2024-2025

Vietnam’s stock market is entering a golden era, upgrading to an emerging market. Listed companies are growing profits by 15-20% annually, with government targets at 8%.

These 8 stocks—VCB, VHM, GAS, VNM, FPT, MSN, VRE, and ACV—are well-positioned to benefit from this growth.

Remember: All stock markets carry risks. We are not investment advice, only providing explanations, trends, and analysis. Do your own research and consult a financial advisor before making decisions.

The only truth: Vietnam is no longer just a “frontier market.” It is becoming an “awakened market.” If you overlook this, you might miss the menu of growth in the coming century.