The Vietnam stock market has essentially been closed to new IPOs for a year. Their bond markets and banking sector have been roiled by controversy and reforms. Their domestic stock index has traded down by 30% since 2021.
That said, Vietnam is home to several ambitious companies preparing to take on overseas competitors to dominate the local markets and hoping to make their mark on the global capital markets. The country’s domestic consumption is soaring as the country recovers from COVID lockdowns, with GDP growing at a blistering 8% in 2022. More importantly, a new generation of tech-forward domestic companies seeks to transform the domestic economy by driving new digital business models and, in some cases, even disrupting global markets.
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