Vietnam Stock Market 2025: 8 High-Value Companies to Invest in During This Period

Why Vietnam? In-Depth Look at Long-Term Growth Opportunities

Recently, the Vietnamese stock market has been at a pivotal turning point. Although there was a sharp correction earlier, the country’s economic fundamentals remain strong. Many analysts believe that 2025 will be the year Vietnam’s economy expands by 6.7%, according to leading financial institutions’ forecasts.

Upgrading to a Frontier Market - Major Capital Inflows

The most attention-grabbing factor for global investors is the preparation to upgrade Vietnam’s stock market from a (Frontier Market) to an (Emerging Market) by 2025. This is not just a classification change but signifies the inflow of several billion dollars from global funds.

Currently, budgets for frontier markets worldwide are less than $100 billion, while emerging markets amount to approximately $6.8 trillion. This difference clearly indicates Vietnam’s growth potential.

Economic Expansion: The Asian Dragon

While many countries aim for annual growth of 3-4%, Vietnam is challenging itself with a growth rate of 6-7%. In 2024, the country achieved a GDP growth of 7.09%, surpassing many neighboring countries.

Such growth results in listed companies’ profits soaring by 15-20% annually, driven by increased credit, consumption, and investment.

8 High-Potential Vietnamese Companies

( 1. VCB )Vietcombank### - Vietnam’s Banking Powerhouse

Vietcombank is the “heart” of Vietnam’s financial system, being the largest bank with the highest market value. Compared to Thailand, VCB’s role is similar to a leading commercial bank, holding a prominent market share and a strong institutional investor portfolio.

VCB’s strength lies in the high level of banking services still accumulated in Vietnam, with vast room for expansion. In the digital era transforming finance, VCB offers opportunities to penetrate a developing market of over 100 million people. Additionally, government policies supporting financial system development provide a smooth pathway for growth.

( 2. VHM )Vinhomes### - Real Estate Empire

Vinhomes is a leader in the real estate market, building condominiums, houses, townhomes, and premium villas. It is a subsidiary of Vingroup, which is so large that it accounts for 2.2% of Vietnam’s GDP.

Compared to Thailand, VHM is like a consolidation of top real estate developers, scaled multiple times. Its projects appeal to middle-class consumers with modern quality and design.

Growth drivers include rising middle-class populations and urban expansion. Although urbanization in Vietnam is still lower than in Thailand, it is increasing rapidly. For example, new infrastructure such as roads and railways has elevated property prices for VHM.

( 3. GAS )Petrovietnam Gas### - The Energy Heart of the Country

GAS, or Petrovietnam Gas, is a leading energy company managing exploration, production, transportation, and distribution. Its role is similar to Thailand’s PTT, a major state enterprise.

GAS’s advantage lies in access to resource-rich areas and concessions. Its “state team” status provides confidence in financial stability and policy support.

As Vietnam accelerates energy consumption amid economic expansion, demand for natural gas— a clean fuel— will continue to grow. This presents long-term sales opportunities for GAS.

( 4. VNM )Vinamilk( - The Dairy Giant

Vietnam Dairy Products, or Vinamilk, is the largest dairy producer in Vietnam, valued at $6.48 billion. Compared to Thailand, VNM is like a consolidation of leading dairy brands, with significant growth potential.

Its strengths include dominating the dairy market and extensive distribution networks nationwide. VNM exports to over 40 countries, demonstrating strong international competitiveness.

VNM’s attractiveness stems from relatively low dairy consumption compared to developed countries. As income rises and health awareness increases, dairy product consumption is expected to surge. VNM also attracts investors through consistent dividends and strong financials.

) 5. FPT - The Digital Era

FPT is a renowned international technology leader, especially in providing IT outsourcing services for high-tech organizations. When thinking of FPT, its image is like a “Grand Master” of high-level software.

Its strength is a high-quality software development team competing with lower labor costs than Western countries. In an era where organizations seek long-term partners for quality software at fair prices, FPT is a highly attractive destination.

Analysts often suggest that FPT could become Vietnam’s most valuable company within this decade, as Vietnam advances into digital technology, AI, and cloud computing.

6. MSN (Masan Group) - The Food Empire

Masan Group is a conglomerate with diversified businesses, focusing on processed food products such as instant noodles, sauces, meats, and more. Compared to Thailand, MSN is like a collective of leading food brands.

Its unique strength is dominating the market with flagship brands like Omachi, Kokomi ###Noodles###, Chin-su (Sauces), Vinacafe (Coffee), and Chin-su (Fish Sauce). Additionally, MSN owns over 3,000 VinMart stores, creating large retail channels.

As consumer behavior shifts, MSN adapts with health-oriented products, ready-to-eat foods, and more, catering to the emerging middle class.

( 7. VRE )Vincom Retail( - Prime Retail Space

Vincom Retail manages leading shopping centers in Vietnam and is part of Vingroup, similar to VHM. Compared to Thailand, VRE is like a top-tier shopping mall developer and operator.

Its strengths include prime locations, modern design, and support from Vingroup.

Growth drivers include the expanding middle class and shifts toward shopping, dining, and leisure centers. VRE benefits from global brands entering Vietnam, such as Zara, H&M, and Uniqlo, enhancing its attractiveness.

) 8. ACV ###Airports Corporation of Vietnam( - Opening the Skies

ACV manages Vietnam’s airports, overseeing major airports including Tan Son Nhat )Ho Chi Minh City### and Noi Bai (Hanoi). Its role is similar to Thailand’s AOT.

Its strength comes from Vietnam’s booming tourism. Before COVID-19, international tourist arrivals steadily increased. Post-reopening, the recovery has been rapid.

Another notable project is the larger Long Thanh International Airport, designed to handle 100 million passengers annually upon completion. This project will elevate Vietnam’s air transport capacity in the coming decade.

How to Enter? Options for Thai Investors

( Method 1: Thai Brokers

The simplest way is to contact Thai brokerage firms offering foreign stock trading services, such as Kasikorn Securities, SCB Securities, or Bualuang Securities. The process involves opening an account, submitting documents, depositing funds, and selecting stocks. The advantage is convenience and no language barrier.

) Method 2: Vietnamese Brokers

For direct market access, you can open an account with leading Vietnamese brokers by submitting documents and depositing funds. The benefit is lower fees, though documentation and language may be more challenging.

( Method 3: Mutual Funds

For a simple and flexible approach, consider investing through Vietnam-focused mutual funds, such as Vietnam Equity funds offered by Thai asset managers. The advantage is professional fund management and diversification, though fees are higher.

Summary

Vietnam’s stock market in 2025 is full of opportunities, driven by 6.7% economic growth, the upgrade to an emerging market, and recent corrections that have created attractive entry points. The 8 companies mentioned—from VCB to ACV—possess growth potential aligned with national trends.

For Thai investors interested, there are many options that are not as complicated as they seem. Starting easily through Thai brokers, mutual funds, or Vietnamese brokers is feasible. The key is to study thoroughly and plan investments carefully.