Multiple institutions simultaneously recommended a group of potential stocks in 2024

Citing CNBC reports, at the end of 2023, many Asia-Pacific stock indexes hit new highs. Inventories in the region are expected to continue growing in 2024.

Vietnam has benefited from the “China + 1” wave (meaning companies diversify their production to reduce dependence on China). Due to strong trade activities and the recovery of manufacturing activities, Vietnam’s economy is expected to grow by 6-6.5% in 2024.

Vietnam also has bright prospects for foreign companies. In 2023, foreign direct investment (FDI) will increase by more than 14% year-on-year.

According to LSEG data, in the first 11 months of 2023, approximately US$29 billion in FDI funds were committed to invest in Vietnam, half of which came from China. Liu Yun, ASEAN economist at HSBC, said this reflects the attractiveness of this S-shaped country as a rising manufacturing factory.

Mr. Andy Ho, CEO of VinaCapital, said now is the best time for investors to enter the Vietnamese market. “In 6-12 months, Vietnam will be a great market with cheap valuations, trading at 11-12 times earnings (based on 2023 profits). This is 20-25% lower than the regional average.” Mr. He shared.

Experts said that the trading volume of the Vietnam Stock Exchange has grown strongly; people are beginning to have the mentality of not wanting to deposit money in banks because interest rates are too low and are considering other options.

Mr Tyler Nguyen, director of institutional clients at Maybank Investment Bank, said investors should consider Vietnam’s e-commerce industry. “We expect the growth rate of this field to be 20-30% per year.” Currently, e-commerce only accounts for 2-3% of retail sales, and there is still huge room for growth.

This is also the view of Mr. He Guozhong when highlighting investment opportunities in the consumer, healthcare and real estate sectors.

When asked about the possibility of Vietnam being upgraded to MSCI emerging market status, Mr. Tyler Nguyen said that the Vietnamese market is still “young” but could “welcome good news in 2025.”

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