Fifteen years ago Standard Chartered Bank wrote a research report entitled ‘Viva Vietnam’, which highlighted the prospects for the emerging economy of the largest country in Indochina. At the time the stock market was 3 years old and had a market capitalisation of 300 million US Dollars. Fast-forward to December 2017, and the stock market is 70 billion US Dollars in market cap, and there are several hundred companies listed.
The economy grew rapidly from the time that report was published and then suffered a dramatic retreat in 2008 which caused the market to languish for about five years. The last four years have seen a significant re-emergence of the stock market, property market, and an energetic venture capital market.
Vietnam equities are up over 40% in 2017, and there is plenty more interest from regional and global investors that could see this increase further.