Which Vietnamese stocks are the best? Get to know the 8 recommended Vietnamese stocks for investors in 2025.

Vietnam’s stock market is entering a critical phase in 2025. Although there was a significant correction in mid-April, many analysts forecast that Vietnam’s economy will stimulate a 6.7% growth in 2025. This article aims to provide an understanding of which Vietnamese stocks are worth investing in and recommends 8 Vietnamese stocks that are valuable for investment in 2025.

8 Leading Vietnamese Stocks for the 2025 Investment Portfolio

1. VCB (Vietcombank) - A key player in Vietnam’s financial markets

Vietcombank holds the position as the largest financial institution in Vietnam and has the highest market capitalization among Vietnamese stocks. To make it easier to understand, VCB is similar to leading banks in Thailand, as it serves as both an access point to the market and a stock that international institutional investors aim to maintain in their portfolio.

If Vietnam’s economy continues to grow, the demand for loans and financial services will reasonably increase, creating significant development opportunities for VCB. Additionally, banking services in Vietnam remain underdeveloped compared to developed countries, leaving room for further growth and expansion—especially as digital technology and innovation play a crucial role in enhancing the financial industry’s capabilities.

Another interesting point about VCB is its benefit from Vietnam’s government policies, which prioritize the development of the country’s financial system. If you are looking for core holdings( for a Vietnam portfolio, VCB should be considered a top candidate.

) 2. VHM ###Vinhomes( - Leader in the real estate migration market

Vinhomes pioneered the largest real estate market in Vietnam, engaging in projects from expanding condominiums, housing developments, townhouses, to high-end villas.

A key point is that VHM operates under Vingroup)VIC(, which is the largest conglomerate in Vietnam. Vingroup accounts for 2.2% of Vietnam’s GDP, making it a heavyweight. VHM can be likened to a collection of leading real estate development companies in Thailand, but with larger size and influence.

VHM’s projects demonstrate maturity in architectural design, modern construction, and skilled execution, attracting middle- to upper-class customers.

The growth of VHM is supported by the expanding middle class and urbanization. Currently, the urban population in Vietnam is still lower than in Thailand, but the trend shows rapid increase, leading to higher demand for quality housing in city centers.

Furthermore, VHM benefits from ongoing investments in Vietnam’s infrastructure—such as roads, modern public transportation, and amenities—which enhance the value of its real estate projects. Although the real estate sector is cyclical, VHM maintains a long-term growth trend aligned with the country’s progress.

) 3. GAS ###Petrovietnam Gas( - The heart of the energy industry

GAS, or Petrovietnam Gas, acts as Vietnam’s primary energy management company, overseeing oil and natural gas operations from exploration, production, transportation, to distribution.

In comparison, Thailand’s GAS plays a similar role to a large state-owned energy enterprise that drives the economy and is supported solely by the government. This status gives GAS advantages in accessing resources and licensing rights.

GAS’s strengths lie in its comprehensive energy infrastructure nationwide, financial stability, and management support. As Vietnam’s economy grows rapidly, energy demand increases proportionally, especially for natural gas, which is a cleaner energy source and offers control over greenhouse gas emissions.

Despite fluctuations in global oil and gas prices, the continuous rising energy demand in Vietnam makes GAS a valuable long-term investment, especially as Vietnam invests heavily in large infrastructure projects requiring substantial energy consumption.

) 4. VNM ###Vinamilk( - Vietnam’s leading dairy product company

Vietnam Dairy Products, commonly known as Vinamilk, is the top dairy producer in Vietnam, with a valuation of approximately $6.48 billion. To compare with Thailand, VNM is similar to a combination of several large dairy manufacturing companies.

VNM currently dominates the dairy and dairy product market in Vietnam, with sufficient dairy farms, technologically advanced factories, and a widespread distribution network across the country. Besides the domestic market, VNM exports to over 40 countries worldwide.

The growth potential for VNM is rooted in increasing dairy consumption in Vietnam, which remains below that of developed countries, leaving room for expansion. As income per capita rises and consumers become more health-conscious, dairy demand is expected to grow significantly.

VNM has a consistent dividend payout, strong financials, and a trusted brand among consumers, making it suitable for investors seeking both growth and dividend income.

) 5. FPT ###FPT Group### - Leader in science, technology, and digital transformation

FPT is Vietnam’s prominent science and technology company, recognized internationally, and a leader in IT outsourcing services for top global tech institutions.

In brief, FPT is one of Vietnam’s top global science and technology institutions, specializing in developing customized software for large corporations. Many analysts believe FPT has high potential to become Vietnam’s most valuable stock within the next 10 years, as Vietnam aims to develop its global competitiveness in science and technology.

FPT’s strength lies in its skilled IT personnel, whose wages are still lower than those in developed countries, giving it a competitive edge globally. Currently, foreign institutions seek partners to develop efficient and cost-effective software solutions. In the era of digital transformation, demand for IT and software services—especially in AI, Cloud Computing, and Big Data—has surged. FPT has invested sincerely in these technologies, providing room for future growth.

( 6. MSN )Masan Group### - Empire of food and beverage products

Masan Group is a diversified enterprise, especially in the food and beverage industry, leading in the production of instant noodles, fish sauce, and salted meat products.

In comparison with Thailand, MSN resembles a conglomerate of leading food and beverage companies. Its strength lies in its strong and well-known brands in Vietnam, covering various daily life products.

These include instant noodles (Omachi and Kokomi), seasoning fish sauce (Chin-su), coffee (Vinacafe), and fish sauce.

Additionally, MSN acquired VinCommerce from Vingroup in 2019, making it the operator of the VinMart and VinMart+ retail chains with over 3,000 stores nationwide. This expanded its retail management system with significant growth potential.

As consumer behavior shifts, MSN has adapted by creating new products to meet diverse needs, such as health products, ready-to-eat foods, and premium items—linked to the growth of Vietnam’s middle class.

( 7. VRE )Vincom Retail### - Leader in shopping malls and retail spaces

Vincom Retail is a leader in Vietnam’s shopping mall industry, part of Vingroup, similar to VHM. In comparison, Thailand’s VRE is akin to a leading shopping mall development and management company.

VRE’s strength lies in its well-located properties with growth opportunities, innovative and high-quality projects, and support from Vingroup, Vietnam’s strongest conglomerate.

Its growth is driven by expanding middle class, rising purchasing power, and changing consumption culture. The younger Vietnamese population increasingly visits shopping centers for shopping, dining, and leisure.

Furthermore, the arrival of international retail brands like Zara, H&M, and Uniqlo has increased interest in shopping malls and created opportunities for higher rental rates. Despite the challenges posed by the growth of online shopping, malls remain vital as urban lifestyle centers.

( 8. ACV )Vietnam Airports Corporation( - Airport operator of Vietnam

ACV manages airports across Vietnam, overseeing nearly all major airports, including Tan Son Nhat)Ho Chi Minh City( and Noi Bai)Hanoi###. In comparison, Thailand’s ACV plays a similar role as the national airport management authority.

ACV’s strength is based on Vietnam’s rapidly developing tourism industry. Before the pandemic, Vietnam saw frequent increases in foreign tourists, and post-reopening, tourism has rebounded strongly.

An additional point of interest is the ongoing investment in new projects, especially the Long Thanh International Airport near Ho Chi Minh City, currently under construction. Once completed, it will be the largest and most technologically advanced airport in the region, designed to handle up to 100 million passengers annually. This project will significantly enhance Vietnam’s air travel capacity in the coming years.

Although ACV was heavily impacted by the pandemic, the long-term outlook for the aviation industry is recovery and growth, especially in emerging markets like Vietnam, making ACV a valuable long-term investment.

Why is the Vietnamese stock market so attractive? Key factors driving long-term growth

Clear economic growth: The new power of Asia

Historically, Vietnam was seen as a poor country. However, today Vietnam is emerging as an “economic powerhouse of Asia,” with one of the highest growth rates globally. Vietnam’s economic growth has been three times higher than its neighboring countries in recent years. In 2024, Vietnam’s GDP expanded by 7.09%, and major financial institutions forecast a 6.7% growth in 2025, with the government targeting at least 8%.

Such rapid growth results in listed companies experiencing profit growth of 15-20% annually, surpassing the global average.

( Upgrading market status to emerging market

One of the most interesting factors for Vietnam’s stock market is its upgrade from a frontier market) to an emerging market( by 2025, according to the stock market development strategy approved by the Vietnamese government.

This transformation is not just a classification change but significantly impacts capital inflows. Currently, less than $100 billion flows into frontier markets globally, whereas emerging markets attract about $6,800 billion—vastly different.

According to MSCI data as of March 15, 2024, Vietnam leads the frontier markets index with a high weighting of 28.8%. Once Vietnam is upgraded to an emerging market, funds mandated to track MSCI Emerging Markets will need to adjust their holdings to include Vietnamese stocks, resulting in substantial capital inflows.

) Market cycle: A valuable investment period after correction

In early April 2025, Vietnam’s stock market experienced a sharp correction. The VN index dropped over 75 points in the morning of April 4, due to major countries’ decisions to impose additional tariffs and negative impacts from the US stock market.

However, many experts see this as a “buying opportunity” for long-term investors. Macroeconomic analysts note that widespread selling indicates investors still need time and more information to assess the true impact of these policies on the economy and corporate profit growth.

Experienced investors understand that stock markets often overreact to short-term negative news, and large corrections are often good opportunities to buy quality stocks at reasonable prices—especially in economies with strong fundamentals like Vietnam.

How Thai investors can trade Vietnamese stocks: A beginner’s guide

Investing in Vietnamese stocks may seem challenging for Thai investors, but in reality, it is not as complicated as it appears if you understand the methods and prepare properly.

1. Open an account with a Thai broker for trading international stocks

The easiest and most convenient way for Thai investors to access Vietnam’s stock market is to open an account with a Thai broker offering international stock trading services.

Steps:

1. Contact a broker: inquire about Vietnam stock market investments, fees, and requirements.
2. Submit documents: prepare ID card, passport, and financial proof.
3. Deposit funds: the broker will set minimum deposit and transaction amounts.
4. Select stocks and place orders: after account opening, you can choose stocks and place orders online.

Advantages: convenient transactions through a domestic broker, no language barriers. Disadvantages: higher transaction fees compared to direct trading.

2. Open a direct account with a Vietnamese broker

For investors seeking direct access, you can open an account with a Vietnamese broker, which are leading brokers in the country.

Steps:

1. Contact the broker: via email or phone.
2. Prepare documents: passport, proof of address, income statement.
3. Visit the broker: in some cases, an in-person visit may be required.
4. Deposit funds: transfer money to start trading.

Advantages: lower fees, direct market access. Disadvantages: more paperwork, language barriers.

3. Invest through mutual funds focusing on Vietnam stocks

If direct stock trading is inconvenient, investing via mutual funds is a good alternative. Many Thai mutual funds have policies to invest in Vietnam’s stock market.

Advantages:

• No need to analyze individual stocks.
• Managed by professional fund managers.
• Diversification reduces risk by investing in multiple companies.

Disadvantages: management fees and other expenses may be higher.

4. Use online trading platforms for international stocks

Today, many online platforms offer international stock trading, including Vietnam, enabling investors to buy and sell through digital systems.

Advantages:

• Easy to use and convenient.
• Lower fees.
• Free analysis tools and data.

Disadvantages: some platforms may not support Thai language; investors should review terms carefully.

Summary: Vietnamese stocks worth investing in 2025

Vietnam’s stock market is currently passing through one of its most critical phases, supported by rapid economic growth, upgrade to emerging market status, and increasing global investor interest.

The top 8 stocks discussed—VCB, VHM, GAS, VNM, FPT, MSN, VRE, and ACV—show potential for growth aligned with Vietnam’s economic trajectory across finance, real estate, energy, food, technology, and aviation sectors.

For Thai investors, accessing this market is not as difficult as it seems—whether through opening accounts with Thai or Vietnamese brokers, investing via mutual funds, or using online trading platforms. With proper planning and mindset, investors can effectively participate in Vietnam’s stock market growth.