The VN30 Index is one of Vietnam’s key stock market indexes representing a group of the 30 largest and most liquid stocks listed on the Ho Chi Minh City Stock Exchange, making it a key indicator of the overall performance of Vietnam’s stock market. Investors often look to the VN30 for insights into the market’s direction and as a benchmark for portfolio performance, as these stocks are considered among the most stable and growth-oriented in the country.

Leading sectors within the VN30 include banking, real estate, and consumer goods, with companies such as Vietcombank, Vinhomes, and Masan Group playing dominant roles. These stocks are often favoured for their market capitalisation, trading volume, and potential for both long-term growth and dividends. The inclusion of major industrial and financial companies also makes the VN30 a reliable measure of economic trends in Vietnam, as these businesses are heavily impacted by macroeconomic factors like interest rates, inflation, and trade policies.

The index, frequently reviewed and adjusted based on market performance, provides investors with a dynamic snapshot of Vietnam’s most influential companies. This makes it an essential tool for both local and international investors seeking exposure to Vietnam’s key stock market.

Asia Commercial Bank

Asia Commercial Bank, trading under the ticker ACB on the Ho Chi Minh Stock Exchange, is a prominent commercial bank in Vietnam. Founded in 1993, ACB offers a wide range of financial services to individuals and businesses.

Industrial Development and Investment Corporation

Becamex IDC is a leading Vietnamese real estate conglomerate, listed on the Ho Chi Minh Stock Exchange under the ticker BCM. It focuses on developing industrial parks and urban service areas mostly within Binh Duong.

Commercial Bank for Investment and Development of Vietnam

BIDV, trading under the ticker BID on the Ho Chi Minh Stock Exchange, is a leading commercial bank in Vietnam. It provides a wide range of financial solutions, from deposits and loans to electronic payments, investments, and insurance. With total assets reaching US$102 billion, BIDV has the largest asset base in the Vietnamese banking system.

Bao Viet Group

Bao Viet Holdings, listed on the Ho Chi Minh Stock Exchange under the ticker BVH, is one of Vietnam’s largest and most well established financial and insurance groups. Founded in 1964, the company offers a comprehensive range of services, including life and non-life insurance, investment, and financial services.

Box 1: Trading on Vietnam’s stock exchanges for foreigners

As an emerging economy and a frontier market, investing in stocks in Vietnam can be an exciting and rewarding experience. Getting started investing in Vietnam stock markets, however, can be a time-consuming and tedious process. That said, there are a number of brokers and finance experts in Vietnam that can assist foreign investors in opening a trading account in Vietnam.

Vietnam Commercial Bank for Industry and Trade

VietinBank, listed on the Ho Chi Minh Stock Exchange under the ticker CTG, is one of Vietnam’s largest state-owned commercial banks. In the first half of 2024, CTG’s total operating income rose by 11.3 percent, reaching US$1.6 billion.

FPT

FPT Corporation, trading under the ticker FPT on the Ho Chi Minh Stock Exchange, is a leading Vietnamese technology and IT services conglomerate. Founded in 1988, the company operates in three core business areas including technology, telecommunications, and education.

PetroVietnam Gas Corporation

PetroVietnam Gas Corporation, trading under the ticker GAS on the Ho Chi Minh Stock Exchange, is a leading energy enterprise in Vietnam. Established in 1990, GAS is an extension of the state-owned Vietnam Oil and Gas Group or PetroVietnam.

Vietnam Rubber Industry Group

Vietnam Rubber Group, trading under the ticker GVR on the Ho Chi Minh Stock Exchange, is a prominent player in Vietnam’s natural rubber industry. Its core business includes rubber production, wood product processing and manufacturing, production of industrial rubber goods, and industrial park development on former rubber plantations.

Ho Chi Minh City Development Commercial Bank

HDBank, listed on the Ho Chi Minh Stock Exchange under the ticker HDB, is one of Vietnam’s leading commercial banks. Established in 1990, the bank is known for its focus on serving small and medium-sized enterprises and retail consumers.

Hoa Phat Group

Hoa Phat Group, trading under the ticker HPG, a leading steel corporation in Vietnam, was established in 1992. Through significant growth, the company has become the market leader in Vietnam in both construction steel and steel pipes. Currently, Hoa Phat is one of Southeast Asia’s largest steel manufacturers.

Box 2: Vietnam’s Stock Market Upgrade Opportunity: Unpacked

Over the course of 2023, foreign investors exited their positions in the Ho Chi Minh City Stock Exchange–or the HoSE–to the tune of more than US$1 billion.

This mass exodus could have been for any number of reasons: demand in key export markets was faltering, several financial crimes had been exposed throughout the year that were waning on investor sentiment, or simply that other lower-risk markets were performing better.

It didn’t, however, stop an almost palpable optimism from permeating the local media and trading circles in Vietnam–a 2025 deadline to have the HoSE reportedly upgraded from a frontier to an emerging market was getting closer and this promised to be a boon for the local bourse… Keep reading…

Military Commercial Bank

The Military Commercial Bank, trading under the ticker MBB on the Ho Chi Minh Stock Exchange, is one of the leading commercial banks in Vietnam. Established in 1994, it operates under the Ministry of National Defence.

MaSan Group Corporation

Masan Group, listed on the Ho Chi Minh Stock Exchange under the ticker MSN, is a leading consumer goods-focused conglomerate based in Vietnam. It operates across multiple sectors including food and beverage, retail, financial services, and technology.

Mobile World Investment

Mobile World, listed on the Ho Chi Minh Stock Exchange under the ticker MWG, is a prominent Vietnamese retail conglomerate. MWG has a network of retail chains, including mobile phone retailer The Gioi Di Dong, home appliances vendor Dien May Xanh, Bach Hoa Xanh grocery stores, and An Khang pharmacies.

Vietnam National Petroleum Group

Vietnam National Petroleum Group or Petrolimex, listed on the Ho Chi Minh Stock Exchange under the ticker PLX, is the largest petroleum distributor in Vietnam with over 50 percent of the domestic market. Established in 1956, the company operates an extensive network of 5,500 fuel stations across Vietnam.

Vietnam Oil and Gas Power Corporation

PetroVietnam Power Corporation, listed under the ticker POW on the Ho Chi Minh Stock Exchange, is a leading energy company in Vietnam. It specializes in electricity production, with a diverse portfolio that includes gas, coal, and hydropower plants. POW operates as a subsidiary of the state-owned Vietnam Oil and Gas Group.

Box 3: Vietnam’s securities industry in 2024

Vietnam’s securities industry includes two major stock exchanges: the Ho Chi Minh Stock Exchange (HOSE) for large-cap stocks and the Hanoi Stock Exchange (HNX) for smaller-cap stocks and bonds. The overarching body managing these two key exchanges, alongside Vietnam’s Unlisted Public Companies market, is the Vietnam Stock Exchange.

Of note, the total capitalisation of ordinary shares on Vietnam’s key stock exchanges hit VND 7,019.70 trillion or US$280.79 billion, a 19 percent surge from the end of last year, equating to 9.1 percent of Vietnam’s 2023 GDP. Vietnam’s stock exchanges now host 728 stocks and fund certificates, with an additional 878 stocks registered for trading on the Unlisted Public Companies platform or UPCom, according to data from the Minustry of Finance.

Saigon Beer – Alcohol – Beverage Corporation

Saigon Beer Alcohol Beverage Corporation, commonly known as Sabeco and listed on the Ho Chi Minh Stock Exchange under the ticker SAB, is a prominent Vietnamese beverage company. Sabeco is known for its popular beer brands, including Saigon Special, Saigon Export, and 333.

Saigon – Hanoi Commercial Bank

Saigon-Hanoi Bank, listed on the Ho Chi Minh Stock Exchange under the ticker SHB, is a Vietnamese commercial bank. In the first half of 2024, SHB’s total operating income declined by 9.5 percent year over year, reaching US$411.5 million

Southeast Asia Commercial Bank

Southeast Asia Bank or SeABank, listed on the Ho Chi Minh City Stock Exchange under the ticker SSB, is a commercial bank in Vietnam. In the first half of 2024, SSB’s total operating income surged by 43 percent, reaching US$240.4 million, and profit before tax jumped by 60.6 percent to US$129.5 million

SSI Securities Corporation

SSI Securities Corporation, listed on the Ho Chi Minh Stock Exchange under the ticker SSI, offers a wide range of financial products and services such as stock brokerage, margin lending, corporate finance advisory and portfolio management.

Saigon Thuong Tin Commercial Bank

Saigon Thuong Tin Commercial Bank or Sacombank, listed on the Ho Chi Minh Stock Exchange under the ticker STB, is a commercial bank in Vietnam, established in 1991.

Vietnam Technological and Commercial Bank

Techcombank, trading under the ticker TCB on the Ho Chi Minh Stock Exchange, is a leading commercial bank in Vietnam. Established in 1993, Techcombank offers a wide range of financial services, including commercial, retail, and investment banking.

Tien Phong Commercial Bank

Tien Phong Bank or TPBank, trading under the ticker TPB on the Ho Chi Minh Stock Exchange, is a Vietnamese commercial bank. In the first half of 2024, TPB’s total operating income rose by 17.8 percent, reaching US$360 million and profit before tax increased by 10.3 percent reaching US$150.7 million.

Commercial Bank for Foreign Trade of Vietnam

The Bank for Foreign Trade of Vietnam or Vietcombank, listed on the Ho Chi Minh Stock Exchange under the ticker VCB, is one of Vietnam’s largest banks. With total assets of US$76.8 billion, VCB holds the third-largest asset base in the country’s banking system.

Vinhomes

Vinhomes, trading under the ticker VHM on the Ho Chi Minh Stock Exchange, is the real estate development subsidiary of Vingroup, Vietnam’s largest conglomerate. Established in 2008, Vinhomes specialises in the development of residential, commercial, and mixed-use properties, focusing primarily on high-end, integrated urban townships.

Vietnam International Commercial Bank

Vietnam International Bank, listed on the Ho Chi Minh Stock Exchange under the ticker VIB, is a commercial bank in Vietnam. In the first half of 2024, VIB’s total operating income rose by 0.6 percent year-over-year to reach US$417 million, while profit before tax dropped by 18.4 percent to US$185.4 million.

Vingroup Corporation

Vingroup, listed on the Ho Chi Minh Stock Exchange under the ticker VIC, is Vietnam’s largest private conglomerate. Founded in 1993 by Pham Nhat Vuong, Vingroup operates across various sectors including real estate, retail, healthcare, education, tourism, and automotive manufacturing. The group is best known for its real estate brand, Vinhomes, which develops luxury residential and commercial properties, and VinFast, Vietnam’s first global electric vehicle manufacturer.

VietJet Aviation

Vietjet Air, a leading Vietnamese airline, is listed on the Ho Chi Minh Stock Exchange under the ticker VJC. Established in 2007, VietJet is known for its low-cost business model.

Vietnam Dairy Products

Vinamilk, listed on the Ho Chi Minh Stock Exchange under the ticker VNM, is a leading dairy company in Vietnam. Founded in 1976, it has grown into a dominant player in the domestic market, producing a wide range of dairy products including milk, yogurt, cheese, ice cream, and condensed milk.

Vietnam Prosperity Commercial Bank

Vietnam Prosperity Commercial Bank, listed on the Ho Chi Minh Stock Exchange under the ticker VPB, is one of Vietnam’s leading private banks. In the first half of 2024, VPB’s total operating income rose by 17.5 percent, reaching US$1.2 billion and profit before tax increased by 67.9 percent reaching US$350.5 million. Of which, net interest income increased by 29.7 percent.

Vincom Retail

Vincom Retail, listed on the Ho Chi Minh Stock Exchange under the ticker VRE, is a leading retail real estate company in Vietnam. It owns and leases a wide range of commercial spaces with about 86 malls across the country. Formerly a subsidiary of Vietnam’s biggest conglomerate Vingroup, Vincom Retail was partially sold in April this year with Vingroup relinquishing its controlling stake.

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