July 2025 marks 25 years since the Vietnamese stock market began operations, starting on July 28, 2000, with two stocks. By 2005, VSH (Vinh Son – Song Hinh Hydropower Company) became the largest company with a capitalization of 16 trillion VND. From 2006, the market grew rapidly with the entry of giants like Vinamilk (VNM) and FPT, continuously achieving top capitalizations. Vietcombank (VCB), one of the top four banks, has held the leading position since 2021. As of June 2025, Vietcombank’s capitalization exceeded 476 trillion VND, while Vingroup ranks second with over 365 trillion VND. Currently, there are over 50 companies with a market capitalization exceeding 1 billion USD, with a projected new ‘blockbuster’ IPO from Techcom Securities in late 2025.
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