Vietnam in the midst of global transformation
Entering 2025, the global economy is shaped by two major trends: loose monetary policies of developed economies and the restructuring of global supply chains.
In the US, the Federal Reserve (FED) is gradually easing interest rates after a long period of tightening. This policy not only reduces pressure on developing economies but also promotes international capital flows to high-potential emerging markets.
In this context, developing countries have the opportunity to take advantage of the shift to expand their role in the global value chain. In particular, Vietnam, with its strategic geographical location and competitive labor costs, is becoming an attractive destination for large corporations in the fields of high technology, semiconductors and artificial intelligence (AI).
In Vietnam, the domestic context is directly affecting the mainstays of the economy. Public investment is being strongly promoted, with more than 90% of capital expected to be disbursed for a series of large-scale infrastructure projects such as the North-South Expressway, industrial parks and synchronous logistics improvements.
The State Bank continues to maintain stable interest rates to enhance liquidity and support businesses in accessing low-cost capital sources.
In addition, reforms in real estate legal policies, including the Land Law and the Real Estate Business Law, will contribute to unclogging supply and increasing market transparency.
Commenting on the opportunities and context of the Vietnamese market, Mr. Ngo Thanh Huan - CEO of FIDT JSC - said that with clear and synchronous policy orientations, Vietnam is expected to overcome immediate challenges to develop strongly in the medium and long term.
In particular, FDI capital flows and high technology continue to be important factors. Vietnam is becoming a strategic destination for large corporations such as NVIDIA, Micron, Amkor, etc. thanks to policies encouraging investment in semiconductor technology and artificial intelligence.
Strategic investment channels in the new cycle
In the securities sector, the Vietnamese stock market is forecast to be the focus of capital flows in 2025.
Mr. Ngo Thanh Huan commented that with the potential to be upgraded to the emerging market group according to the criteria of FTSE and MSCI, Vietnamese securities have the opportunity to attract large-scale foreign capital flows, increase liquidity and improve market transparency.
“The upgrade not only increases liquidity but also helps businesses mobilize capital more effectively. Sectors such as technology, renewable energy and manufacturing will benefit greatly, strengthening the confidence of international investors. The VN-Index is expected to fluctuate between 1,300 and 1,500 points, with technology, consumer goods and construction being the leading sectors,” the expert expected.
Regarding real estate, after a long period of difficulty, the market is entering a strong recovery cycle. The completion of the Land Law, Real Estate Business Law and Housing Law is expected to remove legal bottlenecks, opening up great opportunities for new projects. The residential real estate market, industrial parks and commercial real estate are all forecast to grow strongly in the period 2025 - 2028, along with the recovery of the economy.
Bonds are considered a potential investment channel in 2025 thanks to many supporting factors. The riskiest period has passed when new legal regulations are applied, helping the market become more transparent and sustainable. Low savings interest rates also promote cash flow from investors to investment channels with higher yields, such as corporate bonds.
For the gold market, in the context of the complicated global geopolitical and economic situation, gold still maintains its position as an important asset and the upward trend is expected to be maintained but at a more modest pace than in 2024.
