July 2025 marks the 25th anniversary of Vietnam’s stock market, starting from July 28, 2000. Initially, the market had only 2 stocks and continuously expanded thereafter. In 2005, Vinh Son – Song Hinh Hydropower JSC (VSH) became the largest company by market capitalization with 16 trillion VND upon listing. Vinamilk (VNM) subsequently doubled HOSE’s capitalization in January 2006. A significant turning point was Vietnam’s accession to the WTO in November 2006, attracting many new listings, including FPT. After 2009, major banks like Vietcombank and VietinBank also listed and secured top positions by capitalization. As of June 30, 2025, Vietcombank leads with 476 trillion VND, followed by Vingroup with over 365 trillion VND. Currently, the market has over 50 firms with a market cap exceeding 1 billion USD, and upcoming major IPOs are expected.
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