8 ‘clans’ holding 2.4 quadrillion VND, ‘controlling’ 1/3 of Vietnam’s stock market

As of July 18, 2025, Vietnam’s stock market reached a capitalization of nearly 8.3 trillion VND, with 8 “clans” of businesses holding 29% of this, translating to about 2.4 trillion VND. These major companies include Vingroup, Masan Group, FPT, GELEX, T&T Group, Sovico Group, Hoang Huy, and DNP – Tasco. Vingroup leads with 1.11 trillion VND in capitalization, accounting for 45% of this group’s total and 13% of the entire market. In the past six months, the capitalization of this ecosystem has grown 186%, with Vingroup (VIC) and Vinhomes (VHM) recording the highest increases. Additionally, the Hoang Huy and GELEX groups experienced growth rates of 86% and 83%, but their capitalizations are still much smaller than those of the larger groups. The T&T Group also had several members show solid growth. The FPT and Masan Group are valued at 309 trillion and 540 trillion VND respectively, reflecting significant shifts in the market capitalization race.