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Vietnam in 2026: Acceleration Begins
Vietnam is closing 2025 with resilient growth and a stable macro backdrop. Despite concerns around U.S. tariff risks, exports and FDI disbursement have held up well, while public investment continues to support the economy, helping Vietnam deliver one of the strongest growth profiles in Southeast Asia.
The stock market gained 31.1% in 11M/2025 and received an upgrade to Secondary Emerging Market status by FTSE Russell. However, gains were largely concentrated in a few index heavyweights, leaving much of the broader market overlooked despite solid underlying earnings.
Looking into 2026, Vietnam is entering a new five-year leadership term with a clear pro-growth agenda. Large-scale infrastructure investment is expected to underpin the next acceleration phase. In the equity market, we see a shift toward earnings-led performance, with attractive opportunities emerging beyond the index heavyweights.
With global interest rates easing, now is a favorable time to initiate or increase exposure to Vietnam. The country is entering a phase reminiscent of China in the early 2000s, when infrastructure investment helped drive a sustained market uptrend.
To make it easy to follow, we’ve summarized the key takeaways in a short Avatar video below.
