Vietnam Startup Stocks: Those Interested in Investing Should Watch Out for These 8 Stocks to Track in 2025

If you are a Thai investor with free time and looking for new opportunities, the Vietnamese stock market might be a destination worth following seriously. With an expected economic growth of 6.7% in 2025 and a transition from frontier to emerging market status, opportunities for investing in Vietnamese stocks are opening up quite nicely.

The correction trend reveals opportunities: the golden time for buyers

Not long ago, the Vietnamese stock market experienced a significant correction, with the VN index dropping 75 points in the morning of April. The reason was due to international trade tensions. However, most analysts see this as a “better location” for those with a long-term perspective. Markets often overreact, and this correction is another good opportunity to accumulate quality stocks at reasonable prices.

Why Vietnam market stands out: 3 main reasons

1. Skyrocketing economy

Vietnam is considered an “Asian little dragon” with impressive efficiency. Vietnam’s growth rate is three times higher than Thailand’s, with GDP expanding by 7.09% in 2025. Even just one year of listed companies’ profits can reach 15-20%, a figure many markets envy worldwide.

2. Upgrading of MSCI market status

In 2025, Vietnam will move from Frontier Market to Emerging Market. This may seem routine, but the actual destination of funds differs greatly. Frontier funds amount to about $100 billion, while emerging markets attract up to $6,800 billion. During this upgrade period, capital flows into the market will be quite interesting.

3. Growing demand for goods and services

Vietnamese population is becoming more active and middle class is expanding. Milk consumption per capita is still low, beautiful homes are not enough, modern shopping centers are few, credit is just beginning to flow, and air travel is still in its early stages. All these are common signs that the market is at a growth point, with demand just reaching higher levels.

8 Vietnamese stocks not to overlook

VCB (Vietcombank) - Solid fundamentals in banking

Vietcombank is one of the largest banks in Vietnam, with the highest market value on the Vietnamese stock exchange. It’s similar to “Kasikornbank” of Vietnam, but plays a more significant role in the economy.

Loans and financial services are increasing along with rapid economic growth. Access to banking services in Vietnam still has room to grow. Digital transformation presents new opportunities and challenges for VCB. Additionally, the Vietnamese government supports financial system development, making VCB a core stock for Vietnam investment portfolios.

VHM (Vinhomes) - The backbone of Vietnam’s real estate

Vinhomes, the main residential real estate company in Vietnam, helps Vietnamese people from condos to luxury villas. It’s part of Vingroup, which accounts for about 2.2% of Vietnam’s GDP.

VHM is renowned for its design quality and management. It attracts middle and upper-middle-class customers. Vietnam’s infrastructure is continuously developing, increasing land and project values. Although real estate has cycles, in the long term, VHM should grow along with the country’s development.

GAS (Petrovietnam Gas) - National energy powerhouse

Vietnam’s PTT, Petrovietnam Gas, explores, produces, transports, and sells oil and gas. Supported by the government, it has a good location in energy and stable finances.

Vietnam’s energy demand will increase with economic growth. Natural gas is a good option for pollution reduction. Despite global energy price fluctuations, the long-term trend in Vietnam remains normal. Therefore, GAS is a long-term investment opportunity.

VNM (Vinamilk) - Number one milk brand

Vietnam Dairy Products, or Vinamilk, is the leading milk and dairy product company in Vietnam, valued at over $6.48 billion.

Vietnamese milk consumption per capita per year is still low, indicating significant growth potential as income rises and people recognize its value. With steady dividends, VNM is suitable for those seeking both growth and income.

FPT - Leading technology company

Vietnam’s top IT company, FPT, helps foreign companies develop software and systems. Many analysts believe FPT has the potential to become Vietnam’s largest market cap company in the future.

FPT’s IT personnel are skilled but paid lower wages compared to developed countries, making it competitive. The digital era, AI, and Cloud Computing increase demand for IT services. FPT is also investing seriously in these technologies.

MSN (Masan Group) - Vietnam’s food empire

Diverse business, focusing on food and beverages. Masan Group produces instant noodles, sauces, processed meats, and has acquired VinCommerce, operating over 3,000 VinMart convenience stores and mini-marts.

MSN adapts to changing consumer preferences, offering health products, ready-to-eat foods, and targeting the growing middle class, increasing product diversity.

VRE (Vincom Retail) - Urban shopping centers

Vietnam’s leading shopping centers, Vincom Retail, is Vietnam’s “Central Group.” Located in prime areas, they develop quality projects supported by Vingroup.

The middle class is growing, international brands are entering Vietnam, and the younger Vietnamese are shopping and relaxing more. E-commerce is expanding separately, but shopping centers remain important.

ACV (Airports Corporation of Vietnam) - Tourism hub

Manages Vietnam’s airports, including Tan Son Nhat (Ho Chi Minh City) and Noi Bai (Hanoi), similar to AOT in Thailand.

Vietnam’s tourism is growing. Long Thanh airport, under construction in the heart of the country, will handle 100 million passengers annually when completed. Despite COVID-19 impacts, aviation will recover and continue to grow.

How to access: Which method will Thais use to buy Vietnamese stocks?

First option: Thai brokers, no hassle

Contact Thai brokers offering international stock services, such as Kasikorn Securities, SCB Securities, or Bualuang Securities. Prepare basic documents, deposit funds, and place orders. The advantage is convenience and no language barrier. The downside is potentially higher fees.

Second option: Vietnamese brokers, in-depth understanding

Go directly to SSI Securities, VNDirect, or HSC, leading Vietnamese brokers. You need to prepare your passport and proof of address; sometimes traveling to Vietnam is required. The advantage is lower fees and direct access to information. The disadvantage is language barriers.

Third option: Mutual funds, entrust experts

Thai funds focusing on Vietnam, such as TMB Eastspring Vietnam Equity Fund or Bualuang Vietnam Equity Fund, do not require personal management. Fund managers handle investments, providing diversification. However, management fees may be slightly higher.

Fourth option: Online platforms, digital era

Interactive Brokers, Saxo Bank, or Tiger Brokers offer convenience, low fees, and analytical tools. However, some platforms may not support Thai investors.

Investment conclusion: Is it time?

The Vietnamese stock market is in a phase of great potential. The economy is booming, market upgrades are underway, and global interest is high. The 8 stocks listed above have strong fundamentals and positioning. For Thais interested in investing in Vietnamese stocks, the access routes are not as difficult as you might think—from Thai brokers, Vietnamese brokers, mutual funds, to digital platforms—all are steps leading to Vietnam’s opportunities.

Warning: Investing involves risks. The economy, policies, and markets can change. Study thoroughly and consult professional investment advisors.