Vietnam’s stock market officially began operations in July 2000 with only 2 stocks. By 2005, Vinh Son – Song Hinh Hydropower Company (VSH) became the largest listed company with a capitalization of 16 trillion VND. The listing of Vinamilk (VNM) in January 2006 doubled the market capitalization in one day. Vietnam’s WTO accession in November 2006 led to a wave of large companies listing, including FPT, which debuted with a capitalization of 28 trillion VND. From 2015-2022, Vinamilk and Vingroup competed for the top capitalization spot. As of June 2025, Vingroup stands as the second-largest company with over 365 trillion VND, while Vietcombank leads with 476 trillion VND. Currently, there are more than 50 companies with a market capitalization over 1 billion USD, including notable names like Masan and Eximbank. The market is anticipated to witness a significant securities introduction in the last quarter.
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