VinaCapital CIO forecasts further stock market growth

Andy Ho, chief investment officer of VinaCapital Group and managing director of the VinaCapital Vietnam Opportunity Fund, shared his insights on CNBC in early April on the potential of the Vietnamese stock market following its upgrade to a frontier market.

"The Vietnamese stock market has seen remarkable progress since the start of the year, with the VN-Index surging by approximately 13 per cent in the first quarter, outstripping other Southeast Asian markets," Ho said, expressing his optimism for continued market momentum throughout 2024.

Discussing investment strategies for foreign investors, VinaCapital's leadership anticipates Vietnam's stock market to attain frontier market status within the next 1–2 years.

"In our view, Vietnam's stock market has effectively transitioned into a frontier market. As a result, investors can pursue returns aligned with the risks they encounter," continued Ho.

"In the first quarter, GDP expanded by 5.7 per cent compared to the same period in 2023, Vietnam's trade surplus reached $8 billion during this period, driven primarily by exports," he further explained, underlining the pivotal role of exports in driving growth. Moreover, Vietnam boasts a resilient service sector and agricultural economy. We anticipate GDP to grow by 6–7 per cent in 2024," he added.

Lam Tien

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