{"id":47526,"date":"2025-09-06T04:54:03","date_gmt":"2025-09-05T21:54:03","guid":{"rendered":"https:\/\/hbbgroup.net\/ong-nguyen-trieu-vinh-vcbf-chung-khoan-viet-nam-so-huu-nhieu-dong-luc-tang-truong-dinh-gia-van-hap-dan\/"},"modified":"2025-09-06T04:54:03","modified_gmt":"2025-09-05T21:54:03","slug":"ong-nguyen-trieu-vinh-vcbf-chung-khoan-viet-nam-so-huu-nhieu-dong-luc-tang-truong-dinh-gia-van-hap-dan","status":"publish","type":"post","link":"https:\/\/hbbgroup.net\/zh\/ong-nguyen-trieu-vinh-vcbf-chung-khoan-viet-nam-so-huu-nhieu-dong-luc-tang-truong-dinh-gia-van-hap-dan\/","title":{"rendered":"\u00d4ng Nguy\u1ec5n Tri\u1ec7u Vinh (VCBF): Ch\u1ee9ng kho\u00e1n Vi\u1ec7t Nam s\u1edf h\u1eefu nhi\u1ec1u \u0111\u1ed9ng l\u1ef1c t\u0103ng tr\u01b0\u1edfng, \u0111\u1ecbnh gi\u00e1 v\u1eabn h\u1ea5p d\u1eabn"},"content":{"rendered":"
\n

\u00d4ng Nguy\u1ec5n Tri\u1ec7u Vinh (VCBF): Ch\u1ee9ng kho\u00e1n Vi\u1ec7t Nam s\u1edf h\u1eefu nhi\u1ec1u \u0111\u1ed9ng l\u1ef1c t\u0103ng tr\u01b0\u1edfng, \u0111\u1ecbnh gi\u00e1 v\u1eabn h\u1ea5p d\u1eabn<\/p>\n

Th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n Vi\u1ec7t Nam \u0111\u01b0\u1ee3c d\u1ef1 b\u00e1o v\u1eabn s\u1edf h\u1eefu nhi\u1ec1u \u0111\u1ed9ng l\u1ef1c trong giai \u0111o\u1ea1n s\u1eafp t\u1edbi. \u0110\u1ecbnh gi\u00e1 – y\u1ebfu t\u1ed1 \u0111\u01b0\u1ee3c nhi\u1ec1u nh\u00e0 \u0111\u1ea7u t\u01b0 quan t\u00e2m l\u1edbn sau giai \u0111o\u1ea1n t\u0103ng m\u1ea1nh v\u1eeba qua – c\u0169ng nhi\u1ec1u kh\u1ea3 n\u0103ng duy tr\u00ec s\u1ef1 h\u1ea5p d\u1eabn nh\u1edd tri\u1ec3n v\u1ecdng t\u0103ng tr\u01b0\u1edfng l\u1ee3i nhu\u1eadn c\u1ee7a doanh nghi\u1ec7p ni\u00eam y\u1ebft. <\/p>\n

\u0110\u00f3 l\u00e0 chia s\u1ebb c\u1ee7a \u00f4ng Nguy\u1ec5n Tri\u1ec7u Vinh – Ph\u00f3 Gi\u00e1m \u0111\u1ed1c Kh\u1ed1i \u0110\u1ea7u t\u01b0, Gi\u00e1m \u0111\u1ed1c \u0110\u1ea7u t\u01b0 c\u1ed5 phi\u1ebfu, C\u00f4ng ty TNHH Qu\u1ea3n l\u00fd Qu\u1ef9 \u0110\u1ea7u t\u01b0 Ch\u1ee9ng kho\u00e1n Vietcombank (VCBF<\/a>)<\/strong> t\u1ea1i ch\u01b0\u01a1ng tr\u00ecnh Vietstock LIVE ng\u00e0y 05\/09.<\/p>\n

T\u0103ng tr\u01b0\u1edfng l\u1ee3i nhu\u1eadn gi\u00fap duy tr\u00ec tr\u1ea1ng th\u00e1i \u0111\u1ecbnh gi\u00e1 h\u1ea5p d\u1eabn <\/p>\n

V\u00e0o cu\u1ed1i th\u00e1ng 8, P\/E c\u1ee7a VN-Index<\/a> \u1edf m\u1ee9c kho\u1ea3ng 15.2 l\u1ea7n, m\u1ee9c kh\u00f4ng c\u00f2n r\u1ebb so v\u1edbi b\u00ecnh qu\u00e2n trong qu\u00e1 kh\u1ee9, m\u1eb7c d\u00f9 v\u1eabn th\u1ea5p h\u01a1n so v\u1edbi nh\u1eefng giai \u0111o\u1ea1n m\u00e0 ch\u1ec9 s\u1ed1 t\u0103ng r\u1ea5t m\u1ea1nh, c\u00f3 l\u00fac v\u01b0\u1ee3t 20 l\u1ea7n. Tuy nhi\u00ean, v\u1edbi tri\u1ec3n v\u1ecdng t\u0103ng tr\u01b0\u1edfng l\u1ee3i nhu\u1eadn c\u1ee7a c\u00e1c doanh nghi\u1ec7p ni\u00eam y\u1ebft, \u0111\u1ecbnh gi\u00e1 th\u1ecb tr\u01b0\u1eddng s\u1ebd tr\u1edf n\u00ean h\u1ea5p d\u1eabn h\u01a1n. Theo d\u1ef1 ph\u00f3ng t\u0103ng tr\u01b0\u1edfng l\u1ee3i nhu\u1eadn n\u0103m 2025, P\/E c\u1ee7a th\u1ecb tr\u01b0\u1eddng c\u00f3 th\u1ec3 v\u1ec1 m\u1ee9c 13.6 l\u1ea7n, m\u1ee9c h\u1ea5p d\u1eabn n\u1ebfu so v\u1edbi \u0111\u1ecbnh gi\u00e1 trung b\u00ecnh 10 n\u0103m qua.<\/p>\n

Th\u1ee9 hai, khi so s\u00e1nh P\/E c\u1ee7a VN-Index<\/span> v\u1edbi c\u00e1c ch\u1ec9 s\u1ed1 trong khu v\u1ef1c, d\u1ec5 th\u1ea5y c\u00f3 s\u1ef1 th\u1ea5p h\u01a1n \u1ea4n \u0110\u1ed9 v\u00e0 Trung Qu\u1ed1c, nh\u01b0ng cao h\u01a1n Malaysia, Th\u00e1i Lan v\u00e0 Philippines. N\u1ebfu x\u00e9t th\u00eam y\u1ebfu t\u1ed1 t\u0103ng tr\u01b0\u1edfng kinh t\u1ebf v\u00e0 \u1ed5n \u0111\u1ecbnh ch\u00ednh tr\u1ecb \u1edf Vi\u1ec7t Nam, c\u00f3 th\u1ec3 th\u1ea5y th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n Vi\u1ec7t Nam x\u1ee9ng \u0111\u00e1ng \u0111\u01b0\u1ee3c \u0111\u1ecbnh gi\u00e1 \u1edf m\u1ee9c cao h\u01a1n nhi\u1ec1u n\u01b0\u1edbc trong khu v\u1ef1c. <\/p>\n

V\u1ec1 \u0111\u1ed9ng l\u1ef1c t\u0103ng tr\u01b0\u1edfng kinh t\u1ebf c\u1ee7a Vi\u1ec7t Nam trong giai \u0111o\u1ea1n s\u1eafp t\u1edbi, \u00f4ng Vinh c\u0169ng nh\u01b0 VCBF<\/span> b\u00e0y t\u1ecf s\u1ef1 l\u1ea1c quan tr\u01b0\u1edbc nhi\u1ec1u y\u1ebfu t\u1ed1 h\u1ed7 tr\u1ee3.<\/p>\n

\u0110\u1ea7u ti\u00ean l\u00e0 Ch\u00ednh ph\u1ee7 ti\u1ebfp t\u1ee5c quy\u1ebft t\u00e2m th\u00fac \u0111\u1ea9y \u0111\u1ea7u t\u01b0 c\u00f4ng, trong b\u1ed1i c\u1ea3nh ng\u00e2n s\u00e1ch thu\u1eadn l\u1ee3i. <\/p>\n

Th\u1ee9 hai, c\u00e1c s\u1ed1 li\u1ec7u t\u0103ng tr\u01b0\u1edfng g\u1ea7n \u0111\u00e2y r\u1ea5t kh\u1ea3 quan. Khi du l\u1ecbch ph\u1ee5c h\u1ed3i, nhi\u1ec1u ng\u00e0nh kh\u00e1c nh\u01b0 b\u00e1n l\u1ebb, d\u1ecbch v\u1ee5 c\u0169ng s\u1ebd \u0111\u01b0\u1ee3c h\u01b0\u1edfng l\u1ee3i.<\/p>\n

Th\u1ee9 ba, ch\u00ednh s\u00e1ch h\u1ed7 tr\u1ee3 t\u0103ng tr\u01b0\u1edfng v\u1edbi m\u1eb7t b\u1eb1ng l\u00e3i su\u1ea5t duy tr\u00ec \u1edf m\u1ee9c th\u1ea5p, k\u00edch th\u00edch \u0111\u1ea7u t\u01b0 v\u00e0 ti\u00eau d\u00f9ng. Ngo\u00e0i ra, c\u00e1c ch\u00ednh s\u00e1ch c\u1ea3i c\u00e1ch h\u00e0nh ch\u00ednh, tinh g\u1ecdn b\u1ed9 m\u00e1y s\u1ebd gi\u00fap ti\u1ebft ki\u1ec7m chi ph\u00ed th\u01b0\u1eddng xuy\u00ean, t\u1ea1o ngu\u1ed3n l\u1ef1c cho ph\u00e1t tri\u1ec3n h\u1ea1 t\u1ea7ng. Ch\u00ednh s\u00e1ch gi\u1ea3m thu\u1ebf VAT<\/a> \u0111\u01b0\u1ee3c k\u00e9o d\u00e0i \u0111\u1ebfn n\u0103m 2026 c\u0169ng l\u00e0 m\u1ed9t y\u1ebfu t\u1ed1 h\u1ed7 tr\u1ee3. <\/p>\n

Cu\u1ed1i c\u00f9ng, Ch\u00ednh ph\u1ee7 khuy\u1ebfn kh\u00edch khu v\u1ef1c n\u00e0y ph\u00e1t tri\u1ec3n, t\u1eeb \u0111\u00f3 n\u00e2ng cao n\u0103ng su\u1ea5t lao \u0111\u1ed9ng, \u0111\u1ea9y nhanh ti\u1ebfn \u0111\u1ed9 d\u1ef1 \u00e1n v\u00e0 gi\u00e1n ti\u1ebfp h\u1ed7 tr\u1ee3 th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n.<\/p>\n

V\u1edbi nhi\u1ec1u tri\u1ec3n v\u1ecdng, \u00f4ng Vinh cho r\u1eb1ng c\u00f3 nhi\u1ec1u nh\u00f3m ng\u00e0nh c\u00f3 th\u1ec3 \u0111\u1ea7u t\u01b0 trong th\u1eddi gian t\u1edbi, c\u00f3 th\u1ec3 k\u1ec3 \u0111\u1ebfn ti\u00eau d\u00f9ng v\u00e0 b\u00e1n l\u1ebb<\/strong> nh\u1edd l\u1ee3i th\u1ebf t\u1eeb l\u00e3i su\u1ea5t th\u1ea5p v\u00e0 ch\u00ednh s\u00e1ch t\u00e0i kh\u00f3a m\u1edf r\u1ed9ng. Khi th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n v\u00e0 b\u1ea5t \u0111\u1ed9ng s\u1ea3n ph\u1ee5c h\u1ed3i, t\u00e0i s\u1ea3n c\u1ee7a ng\u01b0\u1eddi d\u00e2n t\u0103ng, h\u1ecd s\u1ebd t\u1ef1 tin chi ti\u00eau h\u01a1n. Th\u1ef1c t\u1ebf cho th\u1ea5y \u0111\u00e3 c\u00f3 doanh nghi\u1ec7p b\u00e1n l\u1ebb t\u1ef1 tin s\u1edbm \u0111\u1ea1t k\u1ebf ho\u1ea1ch c\u1ea3 n\u0103m, hay s\u1ed1 li\u1ec7u ph\u1ea3n \u00e1nh kh\u00e1ch h\u00e0ng quay l\u1ea1i mua c\u00e1c s\u1ea3n ph\u1ea9m gi\u00e1 tr\u1ecb cao. <\/p>\n

B\u1ea5t \u0111\u1ed9ng s\u1ea3n, x\u00e2y d\u1ef1ng v\u00e0 v\u1eadt li\u1ec7u x\u00e2y d\u1ef1ng<\/strong> \u0111\u00e1ng k\u1ef3 v\u1ecdng v\u1edbi \u0111\u1ed9ng l\u1ef1c t\u1eeb \u0111\u1ea7u t\u01b0 c\u00f4ng, t\u0103ng tr\u01b0\u1edfng kinh t\u1ebf v\u00e0 m\u1eb7t b\u1eb1ng l\u00e3i su\u1ea5t th\u1ea5p.<\/p>\n

M\u1ea3ng c\u00f4ng ngh\u1ec7<\/strong> v\u1edbi xu h\u01b0\u1edbng \u1ee9ng d\u1ee5ng AI v\u00e0 c\u00f4ng ngh\u1ec7 th\u00f4ng tin s\u1ebd ti\u1ebfp t\u1ee5c ph\u00e1t tri\u1ec3n m\u1ea1nh m\u1ebd, t\u1ea1o c\u01a1 h\u1ed9i cho nh\u1eefng doanh nghi\u1ec7p \u0111\u1ee7 ti\u1ec1m l\u1ef1c ph\u00e1t tri\u1ec3n s\u1ea3n ph\u1ea9m c\u00f4ng ngh\u1ec7 v\u00e0 AI. <\/p>\n

Ngo\u00e0i ra, ng\u00e0nh ng\u00e2n h\u00e0ng<\/strong> v\u1eabn c\u00f3 ti\u1ec1m n\u0103ng nh\u01b0ng c\u1ea7n ch\u1ecdn l\u1ecdc. B\u1ea5t ch\u1ea5p vi\u1ec7c th\u1ecb gi\u00e1 t\u0103ng m\u1ea1nh trong th\u1eddi gian qua nh\u01b0ng \u0111\u1ecbnh gi\u00e1 c\u1ee7a m\u1ed9t s\u1ed1 ng\u00e2n h\u00e0ng v\u1eabn ch\u1ec9 \u1edf m\u1ee9c ti\u1ec7m c\u1eadn trung b\u00ecnh qu\u00e1 kh\u1ee9, trong khi tri\u1ec3n v\u1ecdng t\u0103ng tr\u01b0\u1edfng trung v\u00e0 d\u00e0i h\u1ea1n v\u1eabn kh\u1ea3 quan. \u0110i\u1ec3m \u0111\u00e1ng l\u01b0u \u00fd l\u00e0 c\u1ea1nh tranh trong ng\u00e0nh ng\u00e0y c\u00e0ng gay g\u1eaft, khi\u1ebfn NIM kh\u00f3 c\u1ea3i thi\u1ec7n trong ng\u1eafn h\u1ea1n.<\/p>\n

\u201cT\u1ea1i VCBF<\/span>, ch\u00fang t\u00f4i v\u1eabn \u0111\u1ea7u t\u01b0 v\u00e0o m\u1ed9t s\u1ed1 ng\u00e2n h\u00e0ng c\u00f3 h\u1ec7 sinh th\u00e1i t\u1ed1t, chi\u1ebfn l\u01b0\u1ee3c r\u00f5 r\u00e0ng v\u1ec1 chuy\u1ec3n \u0111\u1ed5i s\u1ed1, ph\u00e1t tri\u1ec3n s\u1ea3n ph\u1ea9m v\u00e0 gi\u1eef ch\u00e2n kh\u00e1ch h\u00e0ng. Ch\u00fang t\u00f4i c\u0169ng ch\u00fa tr\u1ecdng \u0111\u1ebfn ch\u1ea5t l\u01b0\u1ee3ng t\u00e0i s\u1ea3n v\u00e0 m\u1ee9c \u0111\u1ecbnh gi\u00e1 h\u1ee3p l\u00fd\u201d<\/em> – \u00f4ng Vinh chia s\u1ebb.<\/p>\n

<\/p>\n

\u1ea2nh ch\u1ee5p m\u00e0n h\u00ecnh s\u1ef1 ki\u1ec7n<\/p>\n<\/p><\/div>\n

Trong b\u1ed1i c\u1ea3nh ch\u01b0a c\u00f3 y\u1ebfu t\u1ed1 v\u0129 m\u00f4 n\u00e0o th\u1eadt s\u1ef1 b\u1ea5t l\u1ee3i, \u00f4ng Vinh v\u1eabn l\u01b0u \u00fd nh\u00e0 \u0111\u1ea7u t\u01b0 kh\u00f4ng \u0111\u01b0\u1ee3c l\u01a1 l\u00e0 vi\u1ec7c qu\u1ea3n tr\u1ecb r\u1ee7i ro, \u0111\u1eb7c bi\u1ec7t trong b\u1ed1i c\u1ea3nh nhi\u1ec1u nh\u00e0 \u0111\u1ea7u t\u01b0 g\u1ea7n \u0111\u00e2y c\u00f3 xu h\u01b0\u1edbng quay l\u1ea1i \u0111\u1ea7u t\u01b0 theo s\u00f3ng ho\u1eb7c tin \u0111\u1ed3n, thay v\u00ec nghi\u00ean c\u1ee9u k\u1ef9 doanh nghi\u1ec7p.<\/p>\n

Chuy\u00ean gia VCBF<\/span> c\u0169ng l\u01b0u \u00fd vi\u1ec7c kh\u00f4ng n\u00ean \u201ct\u1ea5t tay\u201d v\u00e0o m\u1ed9t ng\u00e0nh \u0111\u1ec3 h\u1ea1n ch\u1ebf r\u1ee7i ro. Khi th\u1ecb tr\u01b0\u1eddng s\u00f4i \u0111\u1ed9ng, nhi\u1ec1u nh\u00e0 \u0111\u1ea7u t\u01b0 c\u00f3 xu h\u01b0\u1edbng d\u1ed3n v\u1ed1n v\u00e0o m\u1ed9t s\u1ed1 c\u1ed5 phi\u1ebfu nh\u1ea5t \u0111\u1ecbnh, l\u00e0m t\u0103ng r\u1ee7i ro t\u1eadp trung. <\/p>\n

T\u1ef7 gi\u00e1 s\u1ebd h\u1ea1 nhi\u1ec7t<\/p>\n

V\u1ec1 t\u1ef7 gi\u00e1 v\u1ed1n \u0111ang r\u1ea5t n\u00f3ng g\u1ea7n \u0111\u00e2y, chuy\u00ean gia VCBF<\/span> k\u1ef3 v\u1ecdng \u00e1p l\u1ef1c s\u1ebd gi\u1ea3m ph\u1ea7n n\u00e0o trong th\u1eddi gian t\u1edbi. Nguy\u00ean nh\u00e2n ch\u00ednh khi\u1ebfn t\u1ef7 gi\u00e1 ch\u1ecbu \u00e1p l\u1ef1c l\u00e0 do Vi\u1ec7t Nam \u0111\u00e3 gi\u1ea3m l\u00e3i su\u1ea5t kh\u00e1 nhi\u1ec1u, duy tr\u00ec m\u1ee9c th\u1ea5p \u0111\u1ec3 h\u1ed7 tr\u1ee3 v\u00e0 th\u00fac \u0111\u1ea9y t\u0103ng tr\u01b0\u1edfng kinh t\u1ebf, trong khi M\u1ef9 v\u1eabn gi\u1eef l\u00e3i su\u1ea5t \u1edf m\u1ee9c cao \u0111\u1ec3 ki\u1ec1m ch\u1ebf l\u1ea1m ph\u00e1t. <\/p>\n

Tuy nhi\u00ean, v\u1edbi m\u1ee9c l\u1ea1m ph\u00e1t v\u00e0 l\u00e3i su\u1ea5t c\u01a1 b\u1ea3n hi\u1ec7n nay, k\u1ef3 v\u1ecdng Fed s\u1ebd c\u00f3 d\u01b0 \u0111\u1ecba \u0111\u1ec3 c\u1eaft gi\u1ea3m l\u00e3i su\u1ea5t 2-3 l\u1ea7n trong n\u0103m nay, b\u1eaft \u0111\u1ea7u t\u1eeb th\u00e1ng 9. Khi Fed c\u1eaft gi\u1ea3m l\u00e3i su\u1ea5t, ch\u00eanh l\u1ec7ch l\u00e3i su\u1ea5t gi\u1eefa Vi\u1ec7t Nam v\u00e0 M\u1ef9 s\u1ebd thu h\u1eb9p, t\u1eeb \u0111\u00f3 gi\u1ea3m \u00e1p l\u1ef1c t\u1ef7 gi\u00e1.<\/p>\n

Ngo\u00e0i ra, qu\u00fd 4 th\u01b0\u1eddng l\u00e0 cao \u0111i\u1ec3m ki\u1ec1u h\u1ed1i (chi\u1ebfm kho\u1ea3ng h\u01a1n 30% l\u01b0\u1ee3ng c\u1ea3 n\u0103m) \u0111\u1ed3ng th\u1eddi c\u0169ng l\u00e0 m\u00f9a cao \u0111i\u1ec3m du l\u1ecbch qu\u1ed1c t\u1ebf, qua \u0111\u00f3 gi\u00fap t\u0103ng cung ngo\u1ea1i t\u1ec7, gi\u1ea3m \u00e1p l\u1ef1c t\u1ef7 gi\u00e1. <\/p>\n

N\u00e2ng h\u1ea1ng gi\u00fap thu h\u00fat l\u01b0\u1ee3ng v\u1ed1n ngo\u1ea1i \u0111\u00e1ng k\u1ec3<\/p>\n

V\u1ec1 tri\u1ec3n v\u1ecdng n\u00e2ng h\u1ea1ng, \u00f4ng Vinh k\u1ef3 v\u1ecdng th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n Vi\u1ec7t Nam s\u1ebd \u0111\u01b0\u1ee3c FTSE quy\u1ebft \u0111\u1ecbnh n\u00e2ng h\u1ea1ng trong \u0111\u1ee3t x\u1ebfp lo\u1ea1i t\u1edbi. \u0110i\u1ec1u n\u00e0y ho\u00e0n to\u00e0n ph\u00f9 h\u1ee3p v\u1edbi quy m\u00f4, thanh kho\u1ea3n c\u1ee7a th\u1ecb tr\u01b0\u1eddng Vi\u1ec7t Nam so v\u1edbi c\u00e1c n\u01b0\u1edbc trong khu v\u1ef1c \u0111\u00e3 \u0111\u01b0\u1ee3c n\u00e2ng h\u1ea1ng tr\u01b0\u1edbc \u0111\u00f3. \u0110\u1ed3ng th\u1eddi, \u0111\u00e2y c\u0169ng l\u00e0 k\u1ebft qu\u1ea3 h\u1ee3p l\u00fd sau nhi\u1ec1u n\u1ed7 l\u1ef1c c\u1ee7a Ch\u00ednh ph\u1ee7, c\u01a1 quan qu\u1ea3n l\u00fd v\u00e0 c\u00e1c c\u00f4ng ty ch\u1ee9ng kho\u00e1n trong vi\u1ec7c th\u00fac \u0111\u1ea9y qu\u00e1 tr\u00ecnh n\u00e2ng h\u1ea1ng. <\/p>\n

Ch\u00ednh ph\u1ee7 \u0111\u00e3 \u0111\u01b0a ra l\u1ed9 tr\u00ecnh c\u1ee5 th\u1ec3 \u0111\u1ec3 ti\u1ebfp t\u1ee5c n\u00e2ng c\u1ea5p, gia t\u0103ng ch\u1ea5t l\u01b0\u1ee3ng th\u1ecb tr\u01b0\u1eddng, kh\u00f4ng ch\u1ec9 tr\u01b0\u1edbc m\u1eaft m\u00e0 c\u1ea3 sau khi \u0111\u01b0\u1ee3c c\u00f4ng nh\u1eadn n\u00e2ng h\u1ea1ng. Theo chia s\u1ebb t\u1eeb FTSE, sau khi c\u00f3 quy\u1ebft \u0111\u1ecbnh, th\u00f4ng th\u01b0\u1eddng c\u1ea7n 6 – 9 th\u00e1ng \u0111\u1ec3 tri\u1ec3n khai, nh\u01b0ng v\u1edbi Vi\u1ec7t Nam c\u00f3 th\u1ec3 k\u00e9o d\u00e0i kho\u1ea3ng 1 n\u0103m. Do \u0111\u00f3, k\u1ecbch b\u1ea3n c\u01a1 s\u1edf l\u00e0 Vi\u1ec7t Nam s\u1ebd c\u00f3 quy\u1ebft \u0111\u1ecbnh n\u00e2ng h\u1ea1ng v\u00e0o th\u00e1ng 9\/2025 v\u00e0 ch\u00ednh th\u1ee9c \u0111\u01b0\u1ee3c n\u00e2ng h\u1ea1ng v\u00e0o th\u00e1ng 9\/2026.<\/p>\n

Theo FTSE, khi \u0111\u01b0\u1ee3c n\u00e2ng h\u1ea1ng, Vi\u1ec7t Nam s\u1ebd chi\u1ebfm kho\u1ea3ng 0.3% trong ch\u1ec9 s\u1ed1 EM FTSE, t\u01b0\u01a1ng \u0111\u01b0\u01a1ng d\u00f2ng v\u1ed1n th\u1ee5 \u0111\u1ed9ng kho\u1ea3ng 1 t\u1ef7 USD<\/span> t\u1eeb c\u00e1c qu\u1ef9 ch\u1ec9 s\u1ed1. N\u1ebfu s\u1ed1 l\u01b0\u1ee3ng v\u00e0 ch\u1ea5t l\u01b0\u1ee3ng doanh nghi\u1ec7p ni\u00eam y\u1ebft c\u1ea3i thi\u1ec7n, d\u00f2ng v\u1ed1n t\u1eeb c\u00e1c qu\u1ef9 ch\u1ee7 \u0111\u1ed9ng c\u00f3 th\u1ec3 cao g\u1ea5p 3-4 l\u1ea7n qu\u1ef9 ch\u1ec9 s\u1ed1, \u0111\u01b0a t\u1ed5ng v\u1ed1n ngo\u1ea1i r\u00f3t v\u00e0o Vi\u1ec7t Nam l\u00ean kho\u1ea3ng 4-5 t\u1ef7 USD<\/span>. <\/p>\n

Theo \u0111\u00f3, nh\u1eefng nh\u00f3m h\u01b0\u1edfng l\u1ee3i g\u1ed3m c\u00f4ng ty ch\u1ee9ng kho\u00e1n, \u0111\u1eb7c bi\u1ec7t l\u00e0 c\u00e1c c\u00f4ng ty c\u00f3 th\u1ecb ph\u1ea7n l\u1edbn trong m\u1ea3ng kh\u00e1ch h\u00e0ng n\u01b0\u1edbc ngo\u00e0i; v\u00e0 doanh nghi\u1ec7p v\u1ed1n h\u00f3a l\u1edbn c\u00f2n room ngo\u1ea1i.<\/p>\n

Tuy nhi\u00ean, vi\u1ec7c FTSE kh\u00f4ng t\u1ef1 quy\u1ebft \u0111\u1ecbnh n\u00e2ng h\u1ea1ng m\u00e0 d\u1ef1a v\u00e0o \u00fd ki\u1ebfn c\u1ee7a kh\u00e1ch h\u00e0ng c\u00f3 th\u1ec3 d\u1eabn \u0111\u1ebfn t\u00ecnh hu\u1ed1ng m\u1ed9t s\u1ed1 nh\u00e0 \u0111\u1ea7u t\u01b0 ch\u01b0a \u0111\u1ed3ng \u00fd, khi\u1ebfn Vi\u1ec7t Nam c\u00f3 kh\u1ea3 n\u0103ng kh\u00f4ng \u0111\u01b0\u1ee3c n\u00e2ng h\u1ea1ng ngay th\u00e1ng 9 n\u00e0y. D\u00f9 v\u1eady, v\u1edbi quy m\u00f4 v\u1ed1n h\u00f3a, thanh kho\u1ea3n v\u00e0 n\u1ed7 l\u1ef1c c\u1ea3i c\u00e1ch th\u1eddi gian qua, \u00f4ng Vinh v\u1eabn k\u1ef3 v\u1ecdng v\u00e0o k\u1ecbch b\u1ea3n t\u00edch c\u1ef1c, tr\u01b0\u1eddng h\u1ee3p n\u1ebfu kh\u00f4ng v\u00e0o th\u00e1ng 9 th\u00ec kh\u1ea3 n\u0103ng s\u1ebd l\u00e0 th\u00e1ng 3\/2026.<\/p>\n

Huy Kh\u1ea3i<\/a><\/p>\n

FILI<\/a><\/p>\n

– 18:31 05\/09\/2025<\/p>\n<\/p><\/div>","protected":false},"excerpt":{"rendered":"

\u00d4ng Nguy\u1ec5n Tri\u1ec7u Vinh (VCBF): Ch\u1ee9ng kho\u00e1n Vi\u1ec7t Nam s\u1edf h\u1eefu nhi\u1ec1u \u0111\u1ed9ng l\u1ef1c t\u0103ng tr\u01b0\u1edfng, \u0111\u1ecbnh gi\u00e1 v\u1eabn h\u1ea5p […]<\/p>","protected":false},"author":1,"featured_media":47527,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[229],"tags":[],"class_list":["post-47526","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-y-kien-chuyen-gia"],"acf":[],"_links":{"self":[{"href":"https:\/\/hbbgroup.net\/zh\/wp-json\/wp\/v2\/posts\/47526","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hbbgroup.net\/zh\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hbbgroup.net\/zh\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hbbgroup.net\/zh\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hbbgroup.net\/zh\/wp-json\/wp\/v2\/comments?post=47526"}],"version-history":[{"count":0,"href":"https:\/\/hbbgroup.net\/zh\/wp-json\/wp\/v2\/posts\/47526\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/hbbgroup.net\/zh\/wp-json\/wp\/v2\/media\/47527"}],"wp:attachment":[{"href":"https:\/\/hbbgroup.net\/zh\/wp-json\/wp\/v2\/media?parent=47526"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hbbgroup.net\/zh\/wp-json\/wp\/v2\/categories?post=47526"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hbbgroup.net\/zh\/wp-json\/wp\/v2\/tags?post=47526"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}