{"id":71201,"date":"2026-04-14T08:51:25","date_gmt":"2026-04-14T01:51:25","guid":{"rendered":"https:\/\/hbbgroup.net\/nang-hang-thanh-cong-vi-sao-khoi-ngoai-van-ban-rong\/"},"modified":"2026-04-14T08:51:25","modified_gmt":"2026-04-14T01:51:25","slug":"nang-hang-thanh-cong-vi-sao-khoi-ngoai-van-ban-rong","status":"publish","type":"post","link":"https:\/\/hbbgroup.net\/vi\/nang-hang-thanh-cong-vi-sao-khoi-ngoai-van-ban-rong\/","title":{"rendered":"N\u00e2ng h\u1ea1ng th\u00e0nh c\u00f4ng, v\u00ec sao kh\u1ed1i ngo\u1ea1i v\u1eabn b\u00e1n r\u00f2ng?"},"content":{"rendered":"
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L\u1ed9 tr\u00ecnh th\u1ecb tr\u01b0\u1eddng Vi\u1ec7t Nam \u0111ang kh\u00e1 gi\u1ed1ng Trung Qu\u1ed1c 10-15 n\u0103m tr\u01b0\u1edbc <\/b> <\/p>\n

T\u1ea1i webinar v\u1edbi ch\u1ee7 \u0111\u1ec1 \u201cFTSE Inclusion – Structural Changes and Investment Opportunities\u201d do Ch\u1ee9ng kho\u00e1n SSI t\u1ed5 ch\u1ee9c, \u00f4ng David Rabinowitz, Gi\u00e1m \u0111\u1ed1c Ph\u00e2n t\u00edch Ch\u1ec9 s\u1ed1 To\u00e0n c\u1ea7u v\u00e0 C\u1ea5u tr\u00fac Th\u1ecb tr\u01b0\u1eddng ch\u00e2u \u00c1 \u2013 Th\u00e1i B\u00ecnh D\u01b0\u01a1ng t\u1ea1i UBS \u0111\u00e1nh gi\u00e1 c\u00f3 r\u1ea5t nhi\u1ec1u d\u1eef li\u1ec7u t\u00edch c\u1ef1c cho th\u1ea5y Vi\u1ec7t Nam \u0111ang chuy\u1ec3n m\u00ecnh m\u1ea1nh m\u1ebd. <\/p>\n

M\u1ed9t trong nh\u1eefng \u0111i\u1ec3m \u0111\u00e1ng ch\u00fa \u00fd l\u00e0 t\u1ef7 l\u1ec7 nh\u00e0 \u0111\u1ea7u t\u01b0 c\u00e1 nh\u00e2n. Hi\u1ec7n t\u1ea1i, kho\u1ea3ng 12% d\u00e2n s\u1ed1 Vi\u1ec7t Nam \u0111\u00e3 c\u00f3 t\u00e0i kho\u1ea3n ch\u1ee9ng kho\u00e1n \u2013 m\u1ed9t con s\u1ed1 t\u0103ng tr\u01b0\u1edfng v\u01b0\u1ee3t b\u1eadc n\u1ebfu so s\u00e1nh v\u1edbi c\u00e1c qu\u1ed1c gia kh\u00e1c trong khu v\u1ef1c \u0110\u00f4ng Nam \u00c1 nh\u01b0 Indonesia. B\u00ean c\u1ea1nh \u0111\u00f3, c\u00e1c ch\u00ednh s\u00e1ch m\u1edbi \u0111ang th\u00fac \u0111\u1ea9y t\u00ednh minh b\u1ea1ch v\u00e0 s\u1ef1 tham gia s\u00e2u r\u1ed9ng h\u01a1n c\u1ee7a c\u00e1c t\u1ea7ng l\u1edbp nh\u00e0 \u0111\u1ea7u t\u01b0. <\/p>\n

B\u1ee9c tranh thanh kho\u1ea3n c\u0169ng l\u00e0 m\u1ed9t minh ch\u1ee9ng r\u00f5 n\u00e9t. T\u1eeb con s\u1ed1 khi\u00eam t\u1ed1n kho\u1ea3ng 10 tri\u1ec7u USD m\u1ed7i phi\u00ean tr\u01b0\u1edbc \u0111\u00e2y, th\u1ecb tr\u01b0\u1eddng \u0111\u00e3 tr\u1ea3i qua m\u1ed9t h\u00e0nh tr\u00ecnh d\u00e0i v\u1edbi s\u1ef1 thay \u0111\u1ed5i ngo\u1ea1n m\u1ee5c v\u1ec1 quy m\u00f4 giao d\u1ecbch. C\u00e1ch \u0111\u00e2y kho\u1ea3ng 10 n\u0103m, v\u1ed1n h\u00f3a th\u1ecb tr\u01b0\u1eddng ch\u1ec9 \u1edf m\u1ee9c 52 t\u1ef7 USD, nh\u01b0ng con s\u1ed1 hi\u1ec7n t\u1ea1i \u0111\u00e3 t\u0103ng l\u00ean g\u1ea5p nhi\u1ec1u l\u1ea7n. Vi\u1ec7t Nam hi\u1ec7n nay c\u00f3 nh\u1eefng y\u1ebfu t\u1ed1 t\u01b0\u01a1ng \u0111\u1ed3ng v\u1edbi c\u00e1c v\u00ed d\u1ee5 \u0111i\u1ec3n h\u00ecnh nh\u01b0 Saudi Arabia, Trung Qu\u1ed1c hay \u1ea4n \u0110\u1ed9 v\u00e0 \u0110\u00e0i Loan \u0111\u1ec3 ch\u00fang ta c\u00f3 th\u1ec3 so s\u00e1nh v\u00e0 k\u1ef3 v\u1ecdng. <\/p>\n

\u0110\u1eb7c bi\u1ec7t, n\u1ebfu nh\u00ecn v\u00e0o t\u1ef7 l\u1ec7 Free-float <\/i> (t\u1ef7 l\u1ec7 c\u1ed5 phi\u1ebfu t\u1ef1 do chuy\u1ec3n nh\u01b0\u1ee3ng), Vi\u1ec7t Nam \u0111ang cho th\u1ea5y c\u01a1 h\u1ed9i \u0111a d\u1ea1ng h\u00f3a danh m\u1ee5c \u0111\u1ea7u t\u01b0 r\u1ea5t l\u1edbn. T\u1ea1i c\u00e1c th\u1ecb tr\u01b0\u1eddng ph\u00e1t tri\u1ec3n, t\u1ef7 l\u1ec7 n\u1eafm gi\u1eef c\u1ee7a c\u1ed5 \u0111\u00f4ng chi\u1ebfn l\u01b0\u1ee3c th\u01b0\u1eddng chi\u1ebfm kho\u1ea3ng 88%. <\/p>\n

S\u1ef1 kh\u00e1c bi\u1ec7t gi\u1eefa ph\u00e2n t\u00edch chi\u1ebfn l\u01b0\u1ee3c v\u00e0 phi chi\u1ebfn l\u01b0\u1ee3c t\u1ea1i Vi\u1ec7t Nam \u0111ang t\u1ea1o ra quy m\u00f4 giao d\u1ecbch th\u1ef1c t\u1ebf \u0111\u1ea7y h\u1ee9a h\u1eb9n trong nh\u1eefng n\u0103m t\u1edbi. Nh\u1eefng thay \u0111\u1ed5i c\u1ee7a hi\u1ec7n t\u1ea1i so v\u1edbi h\u00e0ng ch\u1ee5c n\u0103m tr\u01b0\u1edbc l\u00e0 r\u1ea5t l\u1edbn, m\u1edf ra c\u01a1 h\u1ed9i cho c\u00e1c lu\u1ed3ng v\u1ed1n qu\u1ed1c t\u1ebf \u0111\u1ed5 v\u00e0o. <\/p>\n

\u0110\u1ed1i v\u1edbi c\u00e1c th\u1ecb tr\u01b0\u1eddng \u0111ang h\u01b0\u1edbng t\u1edbi danh hi\u1ec7u “Th\u1ecb tr\u01b0\u1eddng M\u1edbi n\u1ed5i”, chuy\u00ean gia UBS cho r\u1eb1ng c\u00f3 nh\u1eefng tr\u1ee5 c\u1ed9t ch\u00ednh trong c\u1ea5u tr\u00fac th\u1ecb tr\u01b0\u1eddng c\u1ea7n \u0111\u1eb7c bi\u1ec7t l\u01b0u \u00fd: kh\u1ea3 n\u0103ng ti\u1ebfp c\u1eadn v\u00e0 t\u00ednh kh\u1ea3 thi trong \u0111\u1ea7u t\u01b0. <\/p>\n

” T\u1ea1i Vi\u1ec7t Nam, ch\u00fang t\u00f4i t\u1eadp trung v\u00e0o c\u00e1c v\u1ea5n \u0111\u1ec1 th\u1ef1c t\u1ebf: Quy tr\u00ecnh v\u00e0 th\u1eddi gian m\u1edf t\u00e0i kho\u1ea3n c\u00f3 thu\u1eadn ti\u1ec7n hay kh\u00f4ng? Vi\u1ec7c ti\u1ebfp c\u1eadn th\u1ecb tr\u01b0\u1eddng c\u00f3 d\u1ec5 d\u00e0ng kh\u00f4ng? \u0110\u1eb7c bi\u1ec7t l\u00e0 m\u00f4 h\u00ecnh Non Pre-funding (kh\u00f4ng y\u00eau c\u1ea7u k\u00fd qu\u1ef9 100% ti\u1ec1n tr\u01b0\u1edbc khi giao d\u1ecbch). Nh\u1eefng g\u00ec Vi\u1ec7t Nam \u0111ang th\u1ef1c hi\u1ec7n kh\u00e1 t\u01b0\u01a1ng \u0111\u1ed3ng v\u1edbi l\u1ed9 tr\u00ecnh c\u1ee7a th\u1ecb tr\u01b0\u1eddng Trung Qu\u1ed1c c\u00e1ch \u0111\u00e2y 10-15 n\u0103m” <\/i> , \u00f4ng David Rabinowitz cho bi\u1ebft. <\/p>\n

Vi\u1ec7c chuy\u1ec3n d\u1ecbch t\u1eeb m\u00f4 h\u00ecnh y\u00eau c\u1ea7u v\u1ed1n tr\u01b0\u1edbc sang m\u00f4 h\u00ecnh kh\u00f4ng y\u00eau c\u1ea7u v\u1ed1n tr\u01b0\u1edbc l\u00e0 m\u1ed9t thay \u0111\u1ed5i mang t\u00ednh b\u01b0\u1edbc ngo\u1eb7t v\u1ec1 m\u1eb7t c\u1ea5u tr\u00fac, t\u1ea1o ra s\u1ef1 t\u1ef1 tin r\u1ea5t l\u1edbn cho nh\u00e0 \u0111\u1ea7u t\u01b0 qu\u1ed1c t\u1ebf. <\/p>\n

\u0110\u00e2y ch\u00ednh l\u00e0 “b\u00e0n \u0111\u1ea1p” v\u00e0 “\u0111\u00f2n b\u1ea9y” \u0111\u1ec3 th\u1ecb tr\u01b0\u1eddng \u0111\u1ea1t \u0111\u01b0\u1ee3c nh\u1eefng b\u01b0\u1edbc ti\u1ebfn cao h\u01a1n sau khi ch\u00ednh th\u1ee9c \u0111\u01b0\u1ee3c n\u00e2ng h\u1ea1ng. K\u1ebft qu\u1ea3 n\u00e0y kh\u00f4ng ph\u1ea3i \u0111\u1ea1t \u0111\u01b0\u1ee3c trong m\u1ed9t s\u1edbm m\u1ed9t chi\u1ec1u m\u00e0 l\u00e0 th\u00e0nh qu\u1ea3 c\u1ee7a c\u1ea3 m\u1ed9t th\u1eadp k\u1ef7 n\u1ed7 l\u1ef1c b\u1ec1n b\u1ec9. <\/p>\n

N\u00e2ng h\u1ea1ng th\u00e0nh c\u00f4ng, v\u00ec sao kh\u1ed1i ngo\u1ea1i v\u1eabn b\u00e1n r\u00f2ng? <\/b> <\/p>\n

D\u00f9 tri\u1ec3n v\u1ecdng n\u00e2ng h\u1ea1ng \u0111\u00e3 r\u00f5 n\u00e9t, nh\u00e0 \u0111\u1ea7u t\u01b0 n\u01b0\u1edbc ngo\u00e0i v\u1eabn ghi nh\u1eadn xu h\u01b0\u1edbng b\u00e1n r\u00f2ng trong th\u1eddi gian g\u1ea7n \u0111\u00e2y. Tuy nhi\u00ean, theo UBS, \u0111i\u1ec1u n\u00e0y kh\u00f4ng ho\u00e0n to\u00e0n ti\u00eau c\u1ef1c. <\/p>\n

Th\u1ef1c t\u1ebf, quy m\u00f4 giao d\u1ecbch h\u00e0ng t\u1ef7 USD cho th\u1ea5y kh\u1ed1i ngo\u1ea1i \u0111\u00e3 hi\u1ec7n di\u1ec7n s\u00e2u r\u1ed9ng t\u1ea1i Vi\u1ec7t Nam. S\u1ef1 d\u1ecbch chuy\u1ec3n d\u00f2ng ti\u1ec1n l\u00e0 \u0111\u1eb7c \u0111i\u1ec3m b\u00ecnh th\u01b0\u1eddng c\u1ee7a m\u1ed9t th\u1ecb tr\u01b0\u1eddng \u0111ang ph\u00e1t tri\u1ec3n, ph\u1ea3n \u00e1nh qu\u00e1 tr\u00ecnh t\u00e1i c\u01a1 c\u1ea5u danh m\u1ee5c. <\/p>\n

“M\u1ee5c ti\u00eau c\u1ed1t l\u00f5i c\u1ee7a vi\u1ec7c n\u00e2ng h\u1ea1ng l\u00e0 thu h\u00fat d\u00f2ng v\u1ed1n qu\u1ed1c t\u1ebf \u1edf l\u1ea1i l\u00e2u h\u01a1n, gi\u00fap th\u1ecb tr\u01b0\u1eddng b\u1edbt “d\u1ec5 b\u1ecb t\u1ed5n th\u01b0\u01a1ng” h\u01a1n so v\u1edbi vi\u1ec7c ch\u1ec9 ph\u1ee5 thu\u1ed9c v\u00e0o nh\u00e0 \u0111\u1ea7u t\u01b0 c\u00e1 nh\u00e2n. \u0110\u1ec3 \u0111\u1ea1t \u0111\u01b0\u1ee3c \u0111i\u1ec1u n\u00e0y, th\u1ecb tr\u01b0\u1eddng c\u1ea7n ti\u1ebfp t\u1ee5c ho\u00e0n thi\u1ec7n \u201cl\u1ed1i v\u00e0o\u201d cho nh\u00e0 \u0111\u1ea7u t\u01b0 qu\u1ed1c t\u1ebf, \u0111\u1ed3ng th\u1eddi x\u00e2y d\u1ef1ng m\u1ed9t \u201cm\u00f4i tr\u01b0\u1eddng \u1edf l\u1ea1i\u201d \u0111\u1ee7 h\u1ea5p d\u1eabn \u2013 t\u1eeb thanh kho\u1ea3n, c\u01a1 ch\u1ebf v\u1eadn h\u00e0nh \u0111\u1ebfn \u0111a d\u1ea1ng h\u00f3a s\u1ea3n ph\u1ea9m \u0111\u1ea7u t\u01b0. \u0110\u00e2y c\u0169ng l\u00e0 b\u00e0i h\u1ecdc t\u1eeb c\u00e1c th\u1ecb tr\u01b0\u1eddng ph\u00e1t tri\u1ec3n nh\u01b0 Nh\u1eadt B\u1ea3n” <\/i> , chuy\u00ean gia UBS nh\u1eadn \u0111\u1ecbnh. <\/p>\n

Theo UBS, qu\u00e1 tr\u00ecnh n\u00e2ng h\u1ea1ng c\u1ee7a Vi\u1ec7t Nam d\u1ef1 ki\u1ebfn s\u1ebd di\u1ec5n ra theo nhi\u1ec1u giai \u0111o\u1ea1n, v\u1edbi c\u00e1c b\u01b0\u1edbc t\u0103ng t\u1ef7 tr\u1ecdng d\u1ea7n (kho\u1ea3ng 30% m\u1ed7i \u0111\u1ee3t). Sau m\u1ed7i th\u00f4ng b\u00e1o ch\u00ednh th\u1ee9c, th\u1ecb tr\u01b0\u1eddng c\u1ea7n th\u1eddi gian tri\u1ec3n khai th\u1ef1c t\u1ebf \u0111\u1ec3 \u0111\u1ea3m b\u1ea3o \u0111\u00e1p \u1ee9ng \u0111\u1ea7y \u0111\u1ee7 c\u00e1c ti\u00eau ch\u00ed. <\/p>\n

Qu\u00e1 tr\u00ecnh n\u00e0y c\u00f3 th\u1ec3 k\u00e9o d\u00e0i, nh\u01b0ng l\u00e0 k\u1ebft qu\u1ea3 c\u1ee7a h\u01a1n m\u1ed9t th\u1eadp k\u1ef7 c\u1ea3i c\u00e1ch li\u00ean t\u1ee5c. N\u1ebfu duy tr\u00ec \u0111\u01b0\u1ee3c \u0111\u00e0 c\u1ea3i thi\u1ec7n hi\u1ec7n t\u1ea1i, Vi\u1ec7t Nam kh\u00f4ng ch\u1ec9 d\u1eebng l\u1ea1i \u1edf vai tr\u00f2 m\u1ed9t th\u1ecb tr\u01b0\u1eddng \u201cng\u00e1ch\u201d, m\u00e0 ho\u00e0n to\u00e0n c\u00f3 c\u01a1 h\u1ed9i tr\u1edf th\u00e0nh \u0111i\u1ec3m \u0111\u1ebfn quan tr\u1ecdng c\u1ee7a d\u00f2ng v\u1ed1n qu\u1ed1c t\u1ebf trong t\u01b0\u01a1ng lai. <\/p>\n<\/p><\/div>","protected":false},"excerpt":{"rendered":"

L\u1ed9 tr\u00ecnh th\u1ecb tr\u01b0\u1eddng Vi\u1ec7t Nam \u0111ang kh\u00e1 gi\u1ed1ng Trung Qu\u1ed1c 10-15 n\u0103m tr\u01b0\u1edbc T\u1ea1i webinar v\u1edbi ch\u1ee7 \u0111\u1ec1 \u201cFTSE […]<\/p>","protected":false},"author":5,"featured_media":71202,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[221],"tags":[],"class_list":["post-71201","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-chung-khoan"],"acf":[],"_links":{"self":[{"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/posts\/71201","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/comments?post=71201"}],"version-history":[{"count":0,"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/posts\/71201\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/media\/71202"}],"wp:attachment":[{"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/media?parent=71201"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/categories?post=71201"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/tags?post=71201"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}