Vietnam Strategy Report for 2025 | Seizing the Opportunity in Uncertainty by SBBS, providing an in-depth analysis of the macro landscape, key investment themes, and top selected stock/sector ideas to help you successfully navigate the year ahead.

We also discuss the most critical topics this year including (1) the trade war impacts to Vietnam, (2) different economic scenarios in 2025, (3) EM upgrade prospects, and (4) stocks/sectors that could benefit from the above factors and outperform the market.

Here are some of the key highlights in our report:

I.           2024 Recap– A Strong Year for Vietnam

- Global Developments

- Vietnam’s Economic Performance

II.         2025 Global Outlook

- US-China Trade War 2.0

III.      2025 Vietnam Outlook

- Ambitious Growth Target

- Structural & Policy Reforms

- Potential Impact of U.S. Tariffs

- FDI Prospects

- Currency & Inflation Management

IV.    Our 2025 Macro-Case Scenarios

- Good-Case Scenario (High Growth, Trade Stability)

- Base-Case Scenario (Moderate Growth, External Headwinds)

V.       Our 2025 VN-Index Forecasts

- Base-case: VN-Index targets 1405 pts (+10.9%), with P/E at 12.5x.

- Good-case: VN-Index targets 1,482 pts (+17.0%), with P/E at 13.0x.