Foreign investor interest in Vietnam is showing signs of recovery, with a Finland-based investment fund expressing growing optimism about the country’s stock market outlook as 2026 begins.
The PYN Elite Fund, which has invested in Vietnamese equities for more than a decade, has raised its target for the VN-Index to 3,200 points. According to the fund, the target could be reached within the next three years if listed Vietnamese companies are able to sustain average annual earnings growth of 18–20 per cent.
In a recent letter to investors, the fund’s head, Petri Deryng, described Vietnam as increasingly attractive compared with other regional markets, noting that the fund has adjusted its Vietnam target three times, compared with only one revision during 15 years of investing in Thailand.
The positive assessment comes amid broader international interest in Vietnam. The country was recently mentioned for the first time in BlackRock’s Global Outlook 2026 report, where Vietnam was highlighted as one of three emerging markets expected to benefit from the restructuring of global supply chains.
Market data from recent weeks show that foreign investors have returned as net buyers on Vietnam’s stock exchange, reversing a prolonged period of net selling. Analysts attribute the shift to easing pressure on the Vietnamese dong, expectations of future market upgrades in global indices, and renewed global risk appetite.
Despite the more positive outlook, analysts caution that foreign capital inflows are likely to remain selective. High global interest rates and ongoing exchange-rate volatility are still seen as factors that could temper investor enthusiasm in the short term, even as Vietnam’s longer-term prospects improve.
Source: VIR
