150 global investors come to Vietnam to seek "disbursement" opportunities

(Dan Tri) - The 2025 Investor Conference attracted a record 150 international visitors, showing the growing appeal of the Vietnamese market after its stock market was upgraded to emerging market status.

VinaCapital asserts that Vietnam is better positioned than many countries in the region to sustain growth. Corporate profits are expected to increase by 23% in 2025, but the capital market also faces major reform challenges.

On October 28, speaking ahead of the 2025 Investor Conference, Mr. Don Lam - CEO and founding shareholder of VinaCapital - emphasized: “In the context of global instability, Vietnam is better positioned than many other countries to continue growing, both in the short and long term, thanks to the vision and decisive actions of the Government. With the private economic sector playing a leading role, the opportunities for investors are becoming extremely attractive.”

Mr. Don Lam added that this year’s conference welcomed a record number of 150 global investors, surpassing last year’s figure of 130, demonstrating the growing appeal of Vietnam. In particular, after the Vietnamese stock market was upgraded to emerging market status in October, foreign capital has more reason to pay attention.

Mr. Don Lam, General Director and Founding Shareholder of VinaCapital Group (Photo: DT).

Mr. Don Lam said that this year's Conference revolves around the theme "Vietnam 2.0" - the country's next development phase shaped by the Government 's far-reaching reforms and long-term vision, with the main driving force coming from the private economic sector.

In which, global investors also focus on science , technology, innovation and deeper integration into the global supply chain, Vietnam 2.0 aims at an important goal: Becoming a developed country by 2045.

Corporate profits grow 23% this year

VinaCapital forecasts that in 2025 alone, Vietnamese corporate profits will grow by 23%, with leading industries including raw materials, insurance, real estate, technology - telecommunications and banking.

Previously, the fund also estimated that corporate profits could increase by an average of 18.4% over the next 1-2 years, thanks to a stable macro economy, active support policies and prospects for market upgrade.

According to VinaCapital analysis, the Vietnamese stock market is currently trading at a P/E of around 15 times - quite reasonable compared to the region. With the upgrade momentum, the VN-Index is likely to be revalued in the next 12-18 months.

Corporate profit forecast (Photo: VinaCapital).

The challenge lies in CCP and foreign investor ownership ratio.

However, the bigger challenge lies in maintaining and strengthening this position in the long term. To do that, Vietnam needs to carry out more comprehensive reforms to deepen, modernize and sustainably develop the capital market, according to VinaCapital.

First, it involves the establishment of a Central Counterparty System (CCP) by the end of 2026. Currently, the Non-Prefunding (NPF) trading model is only a temporary solution to meet FTSE Russell's upgrading criteria, while the CCP is a long-term requirement of MSCI, the world's largest rating agency.

According to the Government's roadmap, Vietnam will establish a subsidiary in charge of CCPs under the Vietnam Securities Depository and Clearing Corporation (VSDC), in accordance with MSCI standards. It is expected that the necessary legal and institutional framework will be completed by the end of 2026, and the CCP system will officially come into operation in the first quarter of 2027.

In addition, loosening foreign ownership limits is also a key factor. According to experts, if the foreign ownership ratio is expanded, Vietnam will significantly improve its ability to access international capital, while increasing its attractiveness in the eyes of large funds.

In addition, the Vietnamese stock market is still heavily dependent on two key sectors: Finance (accounting for 37%) and real estate (19%). VinaCapital recommends promoting the diversification of the industry structure, encouraging many new high-quality IPOs. This will help the market reflect the economy more closely and reduce dependence on a few sectors.

Source: https://dantri.com.vn/kinh-doanh/150-nha-dau-tu-toan-cau-den-viet-nam-tim-co-hoi-giai-ngan-20251028165540975.htm