Expect major changes.

2025 will be a year full of potential for the Vietnamese stock market, with a combination of supportive macroeconomic policies and expectations of major changes in the legal and economic structure.

The government has set an economic growth target of around 6.5-7% for 2025, and is striving to reach 7-7.5%. Although this is an ambitious target given the ongoing global uncertainty, policies supporting the domestic economy, institutional reforms, and improvements in the investment environment will be crucial factors driving the development of the Vietnamese stock market in the coming year.

Macroeconomic policies support the stock market.

In 2025, the Government will continue to focus on improving the quality of public investment, developing infrastructure, and removing obstacles in the real estate sector, while encouraging commercial banks to maintain low interest rates to support businesses. These are important policies that not only help stabilize the macroeconomic economy but also create favorable conditions for investment activities, especially for listed companies on the stock market.

In addition, revised laws, including the Investment Law, the Public Investment Law, the Securities Law, and the Electricity Law, will officially come into effect from 2025. These changes are expected to create a more favorable investment environment, especially in the context of Vietnam's deep integration with the world economy and the need for clear legal regulations to attract investment capital.

One of the key factors for the Vietnamese stock market is the goal of upgrading its status from a frontier market to an emerging market. This is a crucial step that will not only enhance market value but also open up opportunities to attract foreign capital into the Vietnamese stock market. This upgrade is projected to take place in 2025, as international capital continues to seek potential alternative markets to China amidst escalating trade tensions between the US and China.

Regarding interest rates and exchange rates, in the context of early 2025, the Vietnamese stock market faces some pressure from the strengthening of the US dollar and high interest rate policies in the US. However, although the exchange rate may be under pressure in the early part of the year, the current valuation of the Vietnamese stock market remains very attractive, with the P/E ratio projected to fall to around 10 times by 2025. This valuation is considered very reasonable and has high profit potential.

Prospects for foreign capital flows and strategies for 2025

Vietnam is currently one of the fastest-growing economies in the world. With several supporting macroeconomic factors such as a young population structure, rapid urbanization, and deep integration into global production chains, the Vietnamese economy is expected to maintain stable growth in the coming years. This is a crucial factor in strengthening foreign investors' confidence in the Vietnamese stock market.

Although foreign investors sold net in the Vietnamese stock market in 2024 due to high interest rates and a strong US dollar, they still maintained a strong interest in the Vietnamese market. Foreign funds in Vietnam achieved returns of 15% or more in 2024, indicating that despite some market challenges, it can still offer attractive returns for investors.

Forecasts indicate that in 2025, foreign capital will return to the Vietnamese stock market, driven by expectations of an upgrade to emerging market status. This will create significant opportunities for international investment funds to continue investing in listed stocks in Vietnam, especially given the attractive economic indicators and current market valuations.

For individual investors, 2025 will be an ideal time to build a long-term investment strategy focusing on businesses with solid foundations and stable growth prospects. In particular, investors should pay attention to the company's management team, as a visionary and capable leadership team is crucial for sustainable business development.

For amateur investors or those lacking the time to monitor the market, investing in professional open-ended funds can be a sensible option. These funds have demonstrated impressive returns over the years and can deliver superior returns compared to the VN-Index. VinaCapital's equity open-ended funds, for example, achieved returns ranging from 22% to 34% in 2024, far exceeding the growth of the VN-Index. Among them, the VINACAPITAL-VMEEF fund led the entire open-ended fund market in terms of returns, achieving 34% in 2024.

Source: https://baodautu.vn/chung-khoan-viet-nam-nam-2025-ky-vong-nhung-thay-doi-lon-d241805.html