{"id":79988,"date":"2026-05-15T09:06:07","date_gmt":"2026-05-15T02:06:07","guid":{"rendered":"https:\/\/hbbgroup.net\/dragon-capital-gia-co-phieu-con-dua-dia-de-phan-anh-sat-hon-nen-tang-doanh-nghiep\/"},"modified":"2026-05-15T09:06:07","modified_gmt":"2026-05-15T02:06:07","slug":"dragon-capital-gia-co-phieu-con-dua-dia-de-phan-anh-sat-hon-nen-tang-doanh-nghiep","status":"publish","type":"post","link":"https:\/\/hbbgroup.net\/vi\/dragon-capital-gia-co-phieu-con-dua-dia-de-phan-anh-sat-hon-nen-tang-doanh-nghiep\/","title":{"rendered":"Dragon Capital: Gi\u00e1 c\u1ed5 phi\u1ebfu c\u00f2n d\u01b0a \u0111\u1ecba \u0111\u1ec3 ph\u1ea3n \u00e1nh s\u00e1t h\u01a1n n\u1ec1n t\u1ea3ng doanh nghi\u1ec7p"},"content":{"rendered":"
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Gi\u00e1 c\u1ed5 phi\u1ebfu v\u1eabn c\u00f2n d\u01b0 \u0111\u1ecba t\u0103ng <\/b> <\/p>\n

Trong th\u00e1ng 4, m\u1ed9t trong nh\u1eefng th\u00f4ng tin \u0111\u00e1ng ch\u00fa \u00fd nh\u1ea5t trong th\u00e1ng l\u00e0 vi\u1ec7c FTSE Russell x\u00e1c nh\u1eadn n\u00e2ng h\u1ea1ng Vi\u1ec7t Nam l\u00ean nh\u00f3m Th\u1ecb tr\u01b0\u1eddng m\u1edbi n\u1ed5i th\u1ee9 c\u1ea5p v\u00e0o ng\u00e0y 8\/4, v\u1edbi hi\u1ec7u l\u1ef1c d\u1ef1 ki\u1ebfn t\u1eeb th\u00e1ng 9\/2026. \u0110\u00e2y \u0111\u01b0\u1ee3c xem l\u00e0 c\u1ed9t m\u1ed1c quan tr\u1ecdng \u0111\u1ed1i v\u1edbi th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n Vi\u1ec7t Nam, m\u1edf ra k\u1ef3 v\u1ecdng thu h\u00fat th\u00eam d\u00f2ng v\u1ed1n ngo\u1ea1i trong trung v\u00e0 d\u00e0i h\u1ea1n. Song song v\u1edbi \u0111\u00f3, Ch\u00ednh ph\u1ee7 v\u1eabn ti\u1ebfp t\u1ee5c \u0111\u1eb7t m\u1ee5c ti\u00eau \u0111\u01b0a Vi\u1ec7t Nam v\u00e0o r\u1ed5 Th\u1ecb tr\u01b0\u1eddng m\u1edbi n\u1ed5i c\u1ee7a MSCI tr\u01b0\u1edbc n\u0103m 2030. <\/p>\n

Tuy nhi\u00ean,b\u00e1o c\u00e1o m\u1edbi nh\u1ea5t c\u1ee7a Dragon Capital nh\u1eadn \u0111\u1ecbnh, c\u00e2u chuy\u1ec7n n\u00e2ng h\u1ea1ng kh\u00f4ng ph\u1ea3i l\u00e0 \u0111i\u1ec3m t\u1ef1a duy nh\u1ea5t c\u1ee7a th\u1ecb tr\u01b0\u1eddng. N\u1ec1n t\u1ea3ng c\u01a1 b\u1ea3n c\u1ee7a doanh nghi\u1ec7p c\u0169ng \u0111ang cho th\u1ea5y s\u1ef1 c\u1ea3i thi\u1ec7n tr\u00ean di\u1ec7n r\u1ed9ng. Nh\u00f3m 100 doanh nghi\u1ec7p l\u1edbn m\u00e0 qu\u1ef9 n\u00e0y theo d\u00f5i ghi nh\u1eadn l\u1ee3i nhu\u1eadn sau thu\u1ebf qu\u00fd I t\u0103ng kho\u1ea3ng 56% so v\u1edbi c\u00f9ng k\u1ef3, m\u1ee9c t\u0103ng m\u1ea1nh nh\u1ea5t k\u1ec3 t\u1eeb giai \u0111o\u1ea1n h\u1eadu Covid. <\/p>\n

\u0110\u00e1ng ch\u00fa \u00fd, \u0111\u00e0 t\u0103ng tr\u01b0\u1edfng l\u1ee3i nhu\u1eadn kh\u00f4ng ch\u1ec9 \u0111\u1ebfn t\u1eeb m\u1ed9t v\u00e0i doanh nghi\u1ec7p c\u00e1 bi\u1ec7t. Dragon Capital cho bi\u1ebft c\u00f3 t\u1edbi 69 trong s\u1ed1 100 doanh nghi\u1ec7p ghi nh\u1eadn t\u0103ng tr\u01b0\u1edfng l\u1ee3i nhu\u1eadn d\u01b0\u01a1ng trong qu\u00fd I. “\u0110i\u1ec1u n\u00e0y cho th\u1ea5y b\u1ee9c tranh l\u1ee3i nhu\u1eadn \u0111ang c\u00f3 s\u1ef1 lan t\u1ecfa t\u1ed1t h\u01a1n, t\u1ea1o n\u1ec1n t\u1ea3ng quan tr\u1ecdng cho th\u1ecb tr\u01b0\u1eddng trong b\u1ed1i c\u1ea3nh \u0111\u1ecbnh gi\u00e1 c\u1ed5 phi\u1ebfu v\u1eabn c\u00f2n d\u01b0 \u0111\u1ecba ph\u1ea3n \u00e1nh th\u00eam c\u00e1c y\u1ebfu t\u1ed1 c\u01a1 b\u1ea3n” <\/i> , Dragon Capital n\u00eau r\u00f5. <\/p>\n

D\u00f9 v\u1eady, di\u1ec5n bi\u1ebfn gi\u00e1 c\u1ed5 phi\u1ebfu trong th\u1eddi gian qua l\u1ea1i mang t\u00ednh t\u1eadp trung cao. N\u00f3i c\u00e1ch kh\u00e1c, l\u1ee3i nhu\u1eadn doanh nghi\u1ec7p c\u1ea3i thi\u1ec7n tr\u00ean di\u1ec7n r\u1ed9ng, nh\u01b0ng \u0111\u00e0 t\u0103ng c\u1ee7a th\u1ecb tr\u01b0\u1eddng l\u1ea1i ch\u01b0a th\u1ef1c s\u1ef1 lan t\u1ecfa t\u01b0\u01a1ng x\u1ee9ng. Theo Dragon Capital, s\u1ef1 k\u1ebft h\u1ee3p gi\u1eefa t\u0103ng tr\u01b0\u1edfng l\u1ee3i nhu\u1eadn mang t\u00ednh lan t\u1ecfa v\u00e0 di\u1ec5n bi\u1ebfn t\u0103ng gi\u00e1 c\u00f2n t\u1eadp trung cho th\u1ea5y v\u1eabn c\u00f2n d\u01b0 \u0111\u1ecba \u0111\u1ec3 m\u1eb7t b\u1eb1ng gi\u00e1 c\u1ed5 phi\u1ebfu d\u1ea7n ph\u1ea3n \u00e1nh s\u00e1t h\u01a1n n\u1ec1n t\u1ea3ng doanh nghi\u1ec7p, \u0111\u1eb7c bi\u1ec7t n\u1ebfu b\u1ed1i c\u1ea3nh b\u00ean ngo\u00e0i tr\u1edf n\u00ean \u1ed5n \u0111\u1ecbnh h\u01a1n. <\/b> <\/i> <\/p>\n

B\u01b0\u1edbc sang n\u1eeda cu\u1ed1i n\u0103m, Dragon Capital cho r\u1eb1ng di\u1ec5n bi\u1ebfn th\u1ecb tr\u01b0\u1eddng s\u1ebd ph\u1ee5 thu\u1ed9c v\u00e0o m\u1ed9t s\u1ed1 y\u1ebfu t\u1ed1 then ch\u1ed1t. Trong \u0111\u00f3, \u0111\u00e1ng ch\u00fa \u00fd l\u00e0 vi\u1ec7c c\u00e1c bi\u1ec7n ph\u00e1p h\u1ed7 tr\u1ee3 ch\u00ednh s\u00e1ch c\u00f3 ti\u1ebfp t\u1ee5c \u0111\u01b0\u1ee3c gia h\u1ea1n hay kh\u00f4ng, gi\u00e1 d\u1ea7u c\u00f3 \u1ed5n \u0111\u1ecbnh tr\u1edf l\u1ea1i hay kh\u00f4ng, v\u00e0 li\u1ec7u \u0111\u00e0 t\u0103ng tr\u01b0\u1edfng l\u1ee3i nhu\u1eadn c\u00f3 m\u1edf r\u1ed9ng ra ngo\u00e0i nh\u00f3m doanh nghi\u1ec7p \u0111\u00f3ng g\u00f3p l\u1edbn nh\u1ea5t hay kh\u00f4ng. <\/p>\n

\ufeffV\u0129 m\u00f4 Vi\u1ec7t Nam chuy\u1ec3n sang pha t\u0103ng tr\u01b0\u1edfng d\u1ef1a nhi\u1ec1u h\u01a1n v\u00e0o s\u1ea3n xu\u1ea5t v\u00e0 \u0111\u1ea7u t\u01b0 <\/b> <\/p>\n

V\u1ec1 b\u1ee9c tranh v\u0129 m\u00f4, Dragon Capital cho r\u1eb1ng Vi\u1ec7t Nam \u0111ang b\u01b0\u1edbc v\u00e0o giai \u0111o\u1ea1n t\u0103ng tr\u01b0\u1edfng d\u1ef1a nhi\u1ec1u h\u01a1n v\u00e0o s\u1ea3n xu\u1ea5t v\u00e0 \u0111\u1ea7u t\u01b0. Trong 4 th\u00e1ng \u0111\u1ea7u n\u0103m 2026, h\u00e0ng lo\u1ea1t \u0111\u1ed9ng l\u1ef1c ch\u00ednh c\u1ee7a n\u1ec1n kinh t\u1ebf nh\u01b0 s\u1ea3n xu\u1ea5t c\u00f4ng nghi\u1ec7p, d\u00f2ng v\u1ed1n FDI, gi\u1ea3i ng\u00e2n \u0111\u1ea7u t\u01b0 c\u00f4ng v\u00e0 s\u1ed1 l\u01b0\u1ee3ng doanh nghi\u1ec7p th\u00e0nh l\u1eadp m\u1edbi \u0111\u1ec1u ghi nh\u1eadn s\u1ef1 t\u0103ng t\u1ed1c. Trong khi \u0111\u00f3, ti\u00eau d\u00f9ng n\u1ed9i \u0111\u1ecba v\u00e0 ho\u1ea1t \u0111\u1ed9ng d\u1ecbch v\u1ee5 ti\u1ebfp t\u1ee5c duy tr\u00ec \u1ed5n \u0111\u1ecbnh, t\u1ea1o n\u1ec1n t\u1ea3ng h\u1ed7 tr\u1ee3 cho t\u0103ng tr\u01b0\u1edfng chung. <\/p>\n

Theo Dragon Capital, khu v\u1ef1c s\u1ea3n xu\u1ea5t ti\u1ebfp t\u1ee5c \u0111\u00f3ng vai tr\u00f2 d\u1eabn d\u1eaft. Ch\u1ec9 s\u1ed1 s\u1ea3n xu\u1ea5t c\u00f4ng nghi\u1ec7p th\u00e1ng 4 t\u0103ng 9,9% so v\u1edbi c\u00f9ng k\u1ef3, \u0111\u01b0a m\u1ee9c t\u0103ng l\u0169y k\u1ebf 4 th\u00e1ng l\u00ean 9,2%. \u0110\u00e1ng ch\u00fa \u00fd, \u0111\u00e0 ph\u1ee5c h\u1ed3i kh\u00f4ng ch\u1ec9 t\u1eadp trung \u1edf nh\u00f3m \u0111i\u1ec7n t\u1eed m\u00e0 c\u00f2n lan sang c\u00e1c ng\u00e0nh g\u1eafn v\u1edbi \u0111\u1ea7u t\u01b0 v\u00e0 h\u1ea1 t\u1ea7ng nh\u01b0 h\u00f3a ch\u1ea5t, kim lo\u1ea1i, kho\u00e1ng phi kim lo\u1ea1i v\u00e0 s\u1ea3n xu\u1ea5t xe c\u00f3 \u0111\u1ed9ng c\u01a1. \u0110i\u1ec1u n\u00e0y cho th\u1ea5y chu k\u1ef3 \u0111\u1ea7u t\u01b0 v\u1ed1n \u0111ang c\u00f3 d\u1ea5u hi\u1ec7u m\u1edf r\u1ed9ng tr\u00ean di\u1ec7n r\u1ed9ng h\u01a1n. <\/p>\n

C\u1ea7u n\u1ed9i \u0111\u1ecba c\u0169ng ti\u1ebfp t\u1ee5c c\u1ea3i thi\u1ec7n. T\u1ed5ng m\u1ee9c b\u00e1n l\u1ebb h\u00e0ng h\u00f3a v\u00e0 doanh thu d\u1ecbch v\u1ee5 t\u0103ng 12,1% so v\u1edbi c\u00f9ng k\u1ef3 trong th\u00e1ng 4 v\u00e0 t\u0103ng 11,1% trong 4 th\u00e1ng \u0111\u1ea7u n\u0103m. Trong \u0111\u00f3, c\u00e1c nh\u00f3m d\u1ecbch v\u1ee5 li\u00ean quan \u0111\u1ebfn l\u01b0u tr\u00fa, \u0103n u\u1ed1ng v\u00e0 du l\u1ecbch duy tr\u00ec \u0111\u00e0 t\u0103ng t\u00edch c\u1ef1c, cho th\u1ea5y t\u0103ng tr\u01b0\u1edfng kh\u00f4ng ch\u1ec9 \u0111\u1ebfn t\u1eeb khu v\u1ef1c s\u1ea3n xu\u1ea5t m\u00e0 c\u00f2n d\u1ea7n lan t\u1ecfa sang c\u00e1c ng\u00e0nh ph\u1ee5c v\u1ee5 ti\u00eau d\u00f9ng. <\/p>\n

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M\u1ed9t \u0111i\u1ec3m s\u00e1ng kh\u00e1c \u0111\u1ebfn t\u1eeb ho\u1ea1t \u0111\u1ed9ng \u0111\u1ea7u t\u01b0. Gi\u1ea3i ng\u00e2n \u0111\u1ea7u t\u01b0 c\u00f4ng \u0111\u1ea1t 7,1 t\u1ef7 USD t\u1eeb \u0111\u1ea7u n\u0103m, t\u0103ng 10,4% so v\u1edbi c\u00f9ng k\u1ef3 v\u00e0 t\u01b0\u01a1ng \u0111\u01b0\u01a1ng g\u1ea7n 20% k\u1ebf ho\u1ea1ch n\u0103m 2026. V\u1ed1n FDI th\u1ef1c hi\u1ec7n \u0111\u1ea1t 7,4 t\u1ef7 USD, t\u0103ng 9,8%, m\u1ee9c cao nh\u1ea5t trong 4 th\u00e1ng \u0111\u1ea7u n\u0103m trong v\u00f2ng 5 n\u0103m tr\u1edf l\u1ea1i \u0111\u00e2y. Trong khi \u0111\u00f3, v\u1ed1n FDI \u0111\u0103ng k\u00fd t\u0103ng 32% l\u00ean 18,2 t\u1ef7 USD, v\u1edbi l\u0129nh v\u1ef1c ch\u1ebf bi\u1ebfn, ch\u1ebf t\u1ea1o chi\u1ebfm kho\u1ea3ng 69% t\u1ed5ng v\u1ed1n \u0111\u0103ng k\u00fd m\u1edbi v\u00e0 m\u1edf r\u1ed9ng. <\/p>\n

Ho\u1ea1t \u0111\u1ed9ng th\u00e0nh l\u1eadp doanh nghi\u1ec7p c\u0169ng cho th\u1ea5y t\u00edn hi\u1ec7u t\u00edch c\u1ef1c. G\u1ea7n 77.800 doanh nghi\u1ec7p \u0111\u01b0\u1ee3c th\u00e0nh l\u1eadp m\u1edbi trong 4 th\u00e1ng \u0111\u1ea7u n\u0103m, t\u0103ng h\u01a1n 50% so v\u1edbi c\u00f9ng k\u1ef3. N\u1ebfu t\u00ednh c\u1ea3 doanh nghi\u1ec7p quay tr\u1edf l\u1ea1i ho\u1ea1t \u0111\u1ed9ng, t\u1ed5ng s\u1ed1 doanh nghi\u1ec7p m\u1edbi v\u00e0 t\u00e1i gia nh\u1eadp th\u1ecb tr\u01b0\u1eddng \u0111\u00e3 v\u01b0\u1ee3t 119.000, t\u0103ng 32,8%. Theo Dragon Capital, vi\u1ec7c c\u00e1c ch\u1ec9 b\u00e1o n\u00e0y c\u00f9ng c\u1ea3i thi\u1ec7n trong b\u1ed1i c\u1ea3nh th\u01b0\u01a1ng m\u1ea1i to\u00e0n c\u1ea7u c\u00f2n nhi\u1ec1u bi\u1ebfn s\u1ed1 ti\u1ebfp t\u1ee5c c\u1ee7ng c\u1ed1 \u0111\u00e1nh gi\u00e1 t\u00edch c\u1ef1c v\u1ec1 \u0111\u1ed9ng l\u1ef1c t\u0103ng tr\u01b0\u1edfng trong n\u01b0\u1edbc. <\/p>\n

D\u00f9 v\u1eady, \u00e1p l\u1ef1c l\u1ea1m ph\u00e1t b\u1eaft \u0111\u1ea7u r\u00f5 n\u00e9t h\u01a1n trong th\u00e1ng 4. CPI th\u00e1ng 4 t\u0103ng 5,5% so v\u1edbi c\u00f9ng k\u1ef3, trong khi b\u00ecnh qu\u00e2n 4 th\u00e1ng t\u0103ng 4%. L\u1ea1m ph\u00e1t c\u01a1 b\u1ea3n \u1edf m\u1ee9c 3,9%. Dragon Capital cho r\u1eb1ng c\u00e1c ch\u1ec9 s\u1ed1 n\u00e0y v\u1eabn th\u1ea5p h\u01a1n ng\u01b0\u1ee1ng m\u1ee5c ti\u00eau 4,5\u20135% c\u1ee7a Ch\u00ednh ph\u1ee7, song d\u01b0 \u0111\u1ecba ki\u1ec3m so\u00e1t l\u1ea1m ph\u00e1t c\u00f3 th\u1ec3 thu h\u1eb9p n\u1ebfu gi\u00e1 d\u1ea7u ti\u1ebfp t\u1ee5c duy tr\u00ec \u1edf m\u1ee9c cao. <\/p>\n

\ufeffC\u00e1c bi\u1ec7n ph\u00e1p \u0111i\u1ec1u h\u00e0nh trong n\u01b0\u1edbc ph\u1ea7n n\u00e0o gi\u00fap gi\u1ea3m b\u1edbt \u00e1p l\u1ef1c n\u00e0y. Vi\u1ec7c gi\u1ea3m thu\u1ebf \u0111\u1ed1i v\u1edbi c\u00e1c s\u1ea3n ph\u1ea9m l\u1ecdc h\u00f3a d\u1ea7u theo Ngh\u1ecb \u0111\u1ecbnh 72, c\u00f9ng c\u00e1c bi\u1ec7n ph\u00e1p gi\u1ea3m thu\u1ebf nhi\u00ean li\u1ec7u, \u0111\u00e3 g\u00f3p ph\u1ea7n h\u1ea1n ch\u1ebf m\u1ee9c \u0111\u1ed9 truy\u1ec1n d\u1eabn c\u1ee7a gi\u00e1 n\u0103ng l\u01b0\u1ee3ng v\u00e0o m\u1eb7t b\u1eb1ng gi\u00e1 trong n\u01b0\u1edbc. C\u00e1c ch\u00ednh s\u00e1ch n\u00e0y d\u1ef1 ki\u1ebfn s\u1ebd \u0111\u01b0\u1ee3c xem x\u00e9t l\u1ea1i v\u00e0o cu\u1ed1i th\u00e1ng 6 v\u00e0 v\u1eabn c\u00f2n kh\u1ea3 n\u0103ng \u0111\u01b0\u1ee3c gia h\u1ea1n n\u1ebfu \u0111i\u1ec1u ki\u1ec7n th\u1ecb tr\u01b0\u1eddng y\u00eau c\u1ea7u. <\/p>\n<\/p><\/div>","protected":false},"excerpt":{"rendered":"

Gi\u00e1 c\u1ed5 phi\u1ebfu v\u1eabn c\u00f2n d\u01b0 \u0111\u1ecba t\u0103ng Trong th\u00e1ng 4, m\u1ed9t trong nh\u1eefng th\u00f4ng tin \u0111\u00e1ng ch\u00fa \u00fd nh\u1ea5t […]<\/p>","protected":false},"author":5,"featured_media":79989,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[221],"tags":[],"class_list":["post-79988","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\/79988","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=79988"}],"version-history":[{"count":0,"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/posts\/79988\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/media\/79989"}],"wp:attachment":[{"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/media?parent=79988"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/categories?post=79988"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/tags?post=79988"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}