Vietnam's Stock Market Upgraded to Emerging Market

Key pointsOn September 21, 2026, Vietnam's stock market was upgraded from frontier to emerging market status based on FTSE Russell criteria. This upgrade is seen as a significant step to attract international capital and expand funding opportunities to support Vietnam's economic growth. The CEO of FTSE Russell stated that Vietnam is a growth story to watch in Asia.
Business impactThis upgrade provides new investment opportunities for Japanese companies. In particular, it is expected to improve access to funding and the stock market as interest from international investors increases.

Key pointsIn September 2026, Vietnam's President Vo Lam will officially visit France, where a cooperation agreement regarding the LNG Long Son project was established between T&T Energy Group and TotalEnergies. This project aims to construct a large-scale LNG power plant in southern Vietnam, with 22 LNG projects planned between 2025 and 2035. LNG Long Son is expected to contribute to stabilizing power supply and economic development.
Business impactThis project will contribute to stabilizing energy supply for Japanese companies and provide investment opportunities. Companies engaged in energy-related businesses should closely monitor future developments.

Key pointsT&T Energy Group and TotalEnergies have signed a cooperation agreement for the development of the LNG Long Son Project. This project is a strategic initiative to promote Vietnam's energy transition.
Business impactThe project will enhance energy supply stability and provide new business opportunities for Japanese companies, particularly those in the energy sector, which should closely monitor this trend.

Key pointsVietnam's stock market is set to be upgraded to FTSE Russell's emerging market status on September 21, 2026, marking a significant event for the international standing of the Vietnamese economy. However, there are views that the VN-Index is already at a high level, and a rapid influx of foreign investment may not occur immediately. The upgrade will be implemented gradually, expected to continue until September 2027.
Business impactFor Japanese companies, the internationalization of the capital market may lead to an improved fundraising environment. In particular, it is anticipated that options will expand for local subsidiaries considering listing, but careful assessment of short-term market movements will be necessary.

Key pointsAs of the end of August 2026, the outstanding loans for tourism-related real estate in Ho Chi Minh City have reached 30 trillion VND. This financing is directed towards restaurants, hotels, and tourist attractions, accounting for 1.9% of the total real estate loan balance. There has been a 12.5% increase compared to the same period last year, indicating a recovery in the tourism sector. The tourism industry is considered a key driver of economic growth, and its future development is being closely watched.
Business impactThe increase in loans for the tourism sector is expected to facilitate the expansion of Japanese companies' tourism-related businesses. Particularly, the hotel and restaurant industries are in a favorable position for financing, making it essential to seize business opportunities.

Key pointsThe number of business jets in Vietnam has increased from 9 to 15, making it the fastest-growing market in the Asia-Pacific region. This has led to rising popularity among the wealthy for business jets.
Business impactThe increase in demand for business jets presents new business opportunities for the aviation industry and related services, particularly for the service and maintenance sectors that need to capitalize on this trend.

Key pointsIn the Long Dien area of Ho Chi Minh City, traditional mooncakes are being produced in abundance during the Mid-Autumn Festival. Local mooncakes are exported to countries such as the United States, Australia, South Korea, and Canada, with a focus on environmentally friendly production while preserving tradition. Many manufacturers have over 50 years of history and continue to prioritize quality in their production.
Business impactJapanese companies should pay attention to Vietnam's traditional food market, particularly exploring export opportunities. Additionally, as there is a demand for environmentally friendly product development, building sustainable business models is essential.