Vietnam Poised to Be Top Market in Asia-Pacific in H1 2024: CNBC

India, Japan, and Vietnam have emerged as the top three performing markets in the Asia-Pacific region for the first half of 2024, according to CNBC, a renowned business and financial news platform. These countries have witnessed remarkable growth and impressive economic performance, attracting attention from investors and experts alike. With their robust economies, strategic initiatives, and favorable business environments, India, Japan, and Vietnam continue to thrive and offer promising opportunities for businesses and individuals seeking growth and prosperity in the region.


Vietnam is expected to experience a GDP growth rate of between 6% and 6.5% in 2024, according to CNBC. This growth rate can be attributed to robust imports and exports, as well as stronger manufacturing activity. Furthermore, the Vietnamese market’s optimism has led to a more than 14% increase in foreign direct investments in 2023 compared to 2022.

Andy Ho, the Chief Investment Officer of VinaCapital Group, believes that now is the opportune time for investors to enter the Vietnam stocks market.

“Over the next 6 to 12 months, Vietnam will be a promising market as valuations are inexpensive, at about 11 to 12 times earnings for 2023. This is approximately a 20% to 25% discount to the regional average,” stated Ho to CNBC. “The average daily trading volume in Vietnam has increased from 500 million USD a year ago to about a billion dollars daily today,” he added.

Ho also expressed bullish sentiments towards Vietnam’s e-commerce sector.

“People are starting to realize that when they have a substantial amount of liquidity, they do not want to hold it in banks due to unattractive interest rates. Instead, they are exploring other investment options,” Ho explained.

A worker checking packages at a warehouse in Vietnam (Photo:

On the other hand, Tyler Nguyen, the Vice-President and Head of Institutional Equity Sales at Maybank Securities Vietnam, shared that his firm has been experiencing 20-30% year-on-year growth, while e-commerce only accounts for 2-3% of retail sales. When asked about Vietnam’s potential inclusion in MSCI’s list of emerging market economies, Nguyen stated that the country is still “at a very nascent stage” but there may be positive developments in 2025.

Earlier this month, the British consulting center CEBR released a forecast that highlighted Vietnam’s long-term positive economic prospects. The forecast proposed that Vietnam can achieve its goal of becoming a high-income country by 2045. CEBR particularly commended Vietnam and the Philippines for their exceptional growth in repositioning the global value chain, implementing internal reforms, and enhancing workforce productivity.

Fanasy Nguyen Le