The Race for Capitalization Over 25 Years

July 2025 marks the 25th anniversary of the Vietnamese stock market, which started on July 28, 2000, with just two stocks. As the market developed, VSH was the largest company in 2005 with a capitalization of 16 trillion VND. Later, Vinamilk and FPT became major players on the exchange. A surge of companies went public in 2006 when Vietnam joined the WTO, with notable names like Vietcombank and Vingroup among the largest market capitalizers. By mid-2025, Vietcombank leads with 476 trillion VND, while Vingroup stands second. Additionally, over 50 companies have reached a market cap over 1 billion USD. The upcoming IPO of Techcom Securities is anticipated to mark a new chapter for the market.