Investment channel prospects

As we enter 2026, with Vietnam's economy projected to grow at double-digit rates, the big question for many investors is not just "where to invest," but "how to invest effectively and safely."

Experts consider gold a worthwhile investment channel in 2026. (Illustration photo: VNA)

As public investment accelerates, high-quality foreign direct investment (FDI) continues to flow in, and digital and green transformation trends become increasingly evident, investment channels from gold and stocks to real estate and bonds all face new opportunities and challenges. To understand this issue better, a reporter from the Vietnam News Agency (TTXVN) interviewed Mr. Ho Sy Hoa, Director of Research and Investment Consulting at DNSE Securities Company.

How do you assess the investment in gold this year?

With gold as an investment asset in 2026, there are three factors at play. Firstly, we see the US Federal Reserve's interest rate cuts weakening the USD, leading to increased demand for a safe-haven asset.

Secondly, it relates to the complex geopolitical risks in recent times. Thirdly, it relates to the trend of central banks around the world buying large amounts of gold to increase their national liquidity. Therefore, we assess that gold will be a worthwhile investment channel in 2026.

Customers conducting transactions at the headquarters of Bao Viet Securities Company. Photo: Tran Viet/TTXVN

The Vietnamese stock market is expected to enter a new cycle, as the macroeconomic situation improves, corporate profits increase, and there is a clear shift in domestic and foreign capital flows. How do you assess this outlook?

In 2026, the stock market will be influenced by three major factors. Firstly, stable monetary and credit policies, with a credit growth limit of approximately 15%, equivalent to more than 2.7 trillion VND.

Secondly, there is the expansionary fiscal policy, with public investment capital expected to be disbursed at approximately 1.6 trillion VND in 2026 alone. And thirdly, there is the expectation that the Vietnamese stock market will be upgraded by the end of September 2026.

With these factors in mind, corporate profits could increase by approximately 17.5%, making stocks continue to be an attractive investment channel.

Illustrative photo: Tuan Anh/TTXVN

So, what is your assessment of real estate as an investment channel?

The real estate market is currently facing two main factors: already high prices and the potential for interest rates to remain high from the end of 2025 into 2026. Therefore, we maintain a neutral stance on this investment channel in 2026.

Many believe that bonds will continue to be a worthwhile investment option this year. What are your thoughts on this?

Regarding the bond market, we see that compared to the crisis period in 2022, the volume of bond issuance in 2025 has almost recovered 100%, reaching over 500,000 billion VND in issuance volume.

Therefore, if investing in bonds, it is necessary to pay attention to the yield of that investment and, especially, to the issuing company—that is, how the bondholders are conducting their business. Therefore, investing in bonds is also a worthwhile investment channel in 2026.

Thank you very much, sir!

Source: https://baotintuc.vn/kinh-te/trien-vong-cac-kenh-dau-tu-20260316145150965.htm