July 2025 marks 25 years of the Vietnamese stock market, starting with 2 stocks and a few more in 2000. Vinh Son Song Hinh (VSH) became the largest company on the exchange in 2005 with a market capitalization of 16 trillion VND. A significant milestone occurred when Vietnam joined the WTO in 2006, leading many large companies like FPT, VCB, and Vinamilk to join the market. After listing in January 2006, Vinamilk’s market capitalization doubled, while FPT quickly became the largest by the end of 2006. From 2015 to 2022, Vinamilk and Vingroup alternated the number one position for market capitalization, with Vingroup now second at 365 trillion VND. Vietcombank has held the top position since 2021 with a capitalization of 476 trillion VND. Currently, there are over 50 companies with a market cap of over 1 billion USD, promising the arrival of more prominent players soon.
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