Vietnam prepares ground for stronger capital markets to foster higher economic growth

By Pune Media On Jan 2, 2025

The country has made significant progress to reach its goal, including preparing for a stock-market upgrade

[HO CHI MINH CITY] The year 2024 saw Vietnam take some big steps in its development of more diverse and healthy capital markets, with the government hopeful that these will help the country’s economic growth to reach new highs in the coming years.

In December, Prime Minister Pham Minh Chinh underlined the need for more efficient capital mobilisation via financial markets in an effort to push Vietnam’s gross domestic product growth to 8 per cent in 2025, and enter the double-digit range during the 2026 to 2030 period.

Due to the limited access to capital markets and the scarcity of long-term financial instruments, Vietnamese businesses have so far relied mainly on bank financing, which is predominantly short-term.

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