{"id":62227,"date":"2026-03-02T09:24:31","date_gmt":"2026-03-02T02:24:31","guid":{"rendered":"https:\/\/hbbgroup.net\/rui-ro-va-co-hoi-cua-cac-kenh-dau-tu-nam-2026-chung-khoan-vang-hay-bat-dong-san\/"},"modified":"2026-03-02T09:24:31","modified_gmt":"2026-03-02T02:24:31","slug":"rui-ro-va-co-hoi-cua-cac-kenh-dau-tu-nam-2026-chung-khoan-vang-hay-bat-dong-san","status":"publish","type":"post","link":"https:\/\/hbbgroup.net\/zh\/rui-ro-va-co-hoi-cua-cac-kenh-dau-tu-nam-2026-chung-khoan-vang-hay-bat-dong-san\/","title":{"rendered":"R\u1ee7i ro v\u00e0 c\u01a1 h\u1ed9i c\u1ee7a c\u00e1c k\u00eanh \u0111\u1ea7u t\u01b0 n\u0103m 2026: Ch\u1ee9ng kho\u00e1n, v\u00e0ng hay b\u1ea5t \u0111\u1ed9ng s\u1ea3n?"},"content":{"rendered":"
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\"d<\/p>

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K\u00eanh \u0111\u1ea7u t\u01b0 b\u1ea5t \u0111\u1ed9ng s\u1ea3n n\u0103m nay c\u00f3 th\u1ec3 ch\u1ecbu \u00e1p l\u1ef1c kh\u00f4ng nh\u1ecf t\u1eeb l\u00e3i su\u1ea5t ng\u00e2n h\u00e0ng – \u1ea2nh: Q.\u0110\u1ecaNH<\/p>\n<\/figcaption><\/figure>\n

10h s\u00e1ng m\u00f9ng 10, ph\u1ed1 Tr\u1ea7n Nh\u00e2n T\u00f4ng (H\u00e0 N\u1ed9i), tr\u01b0\u1edbc c\u00e1c ti\u1ec7m v\u00e0ng, d\u00f2ng ng\u01b0\u1eddi x\u1ebfp h\u00e0ng d\u00e0i d\u01b0\u1edbi m\u01b0a ph\u00f9n ch\u1edd mua.<\/p>\n

Ng\u1ed3i g\u1ea7n \u0111\u00f3, anh \u0110inh Quang Minh (ch\u1ee7 h\u1ed9 kinh doanh) k\u1ec3 \u0111\u00e3 ch\u1ea5m d\u1ee9t 10 n\u0103m v\u1eadn h\u00e0nh chu\u1ed7i \u0103n u\u1ed1ng gia \u0111\u00ecnh. Kh\u00f4ng ph\u1ea3i v\u00ec thua l\u1ed7 m\u00e0 do bi\u00ean l\u1ee3i nhu\u1eadn<\/a> thu h\u1eb9p, chi ph\u00ed tu\u00e2n th\u1ee7 t\u0103ng, c\u1ea1nh tranh gay g\u1eaft h\u01a1n, anh \u0111\u00e3 thu h\u1ed3i v\u1ed1n, m\u1ed9t ph\u1ea7n chuy\u1ec3n sang b\u1ea5t \u0111\u1ed9ng s\u1ea3n, m\u1ed9t ph\u1ea7n sang v\u00e0ng. C\u00e2u chuy\u1ec7n c\u1ee7a anh Minh kh\u00f4ng ph\u1ea3i tr\u01b0\u1eddng h\u1ee3p c\u00e1 bi\u1ec7t.<\/p>\n

C\u1ed5 phi\u1ebfu v\u00e0 b\u1ea5t \u0111\u1ed9ng s\u1ea3n v\u1eabn l\u00e0 tr\u1ee5 c\u1ed9t<\/h2>\n

B\u1ee9c tranh \u0111\u1ea7u t\u01b0 n\u0103m 2026 \u0111\u01b0\u1ee3c d\u1ef1 b\u00e1o s\u1ebd kh\u00e1c bi\u1ec7t \u0111\u00e1ng k\u1ec3 so v\u1edbi giai \u0111o\u1ea1n 2024 – 2025. Theo \u00f4ng B\u00f9i V\u0103n Huy – Gi\u00e1m \u0111\u1ed1c Kh\u1ed1i nghi\u00ean c\u1ee9u \u0111\u1ea7u t\u01b0, C\u00f4ng ty t\u01b0 v\u1ea5n \u0111\u1ea7u t\u01b0 v\u00e0 qu\u1ea3n l\u00fd gia s\u1ea3n FIDT, nh\u00e0 \u0111\u1ea7u t\u01b0 c\u1ea7n x\u00e1c \u0111\u1ecbnh r\u00f5 t\u00e2m th\u1ebf \u0111\u00e2y c\u00f3 th\u1ec3 l\u00e0 n\u0103m kh\u00f4ng d\u1ec5 d\u00e0ng, khi vi\u1ec7c t\u00ecm ki\u1ebfm m\u1ee9c l\u1ee3i nhu\u1eadn cao hay nh\u1eefng c\u01a1 h\u1ed9i r\u00f5 r\u00e0ng, thu\u1eadn l\u1ee3i nh\u01b0 giai \u0111o\u1ea1n tr\u01b0\u1edbc s\u1ebd tr\u1edf n\u00ean kh\u00f3 h\u01a1n.<\/p>\n

Th\u1ecb tr\u01b0\u1eddng b\u01b0\u1edbc v\u00e0o tr\u1ea1ng th\u00e1i “th\u1ef1c ch\u1ea5t”, khi d\u00f2ng ti\u1ec1n kh\u00f4ng c\u00f2n d\u01b0 d\u1ea3 \u0111\u1ec3 t\u1ea1o ra c\u00e1c con s\u00f3ng t\u0103ng lan t\u1ecfa di\u1ec7n r\u1ed9ng. Trong b\u1ed1i c\u1ea3nh \u0111\u00f3, b\u00e0i to\u00e1n kh\u00f4ng c\u00f2n l\u00e0 “ch\u1ecdn k\u00eanh n\u00e0o s\u1ebd b\u00f9ng n\u1ed5”, m\u00e0 l\u00e0 ph\u00e2n b\u1ed5 t\u00e0i s\u1ea3n th\u1ebf n\u00e0o \u0111\u1ec3 c\u00e2n b\u1eb1ng gi\u1eefa r\u1ee7i ro v\u00e0 hi\u1ec7u qu\u1ea3.<\/p>\n

N\u1ebfu \u0111\u1eb7t l\u00ean b\u00e0n c\u00e2n \u0111\u1ec3 t\u00ecm n\u01a1i tr\u00fa \u1ea9n v\u00e0 sinh l\u1eddi t\u1ed1t nh\u1ea5t cho d\u00f2ng ti\u1ec1n, FIDT cho r\u1eb1ng c\u1ed5 phi\u1ebfu v\u00e0 b\u1ea5t \u0111\u1ed9ng s\u1ea3n v\u1eabn l\u00e0 hai k\u00eanh s\u00e1ng gi\u00e1 nh\u1ea5t n\u0103m 2026.<\/p>\n

V\u1edbi th\u1ecb tr\u01b0\u1eddng c\u1ed5 phi\u1ebfu, s\u1ee9c h\u00fat v\u1eabn hi\u1ec7n h\u1eefu, song nh\u00e0 \u0111\u1ea7u t\u01b0 c\u1ea7n \u0111i\u1ec1u ch\u1ec9nh k\u1ef3 v\u1ecdng. Khi d\u01b0 \u0111\u1ecba n\u1edbi l\u1ecfng ti\u1ec1n t\u1ec7 thu h\u1eb9p, th\u1ecb tr\u01b0\u1eddng kh\u00f3 c\u00f3 nh\u1eefng nh\u1ecbp b\u00f9ng n\u1ed5 m\u1ea1nh. Thay v\u00e0o \u0111\u00f3 l\u00e0 xu h\u01b0\u1edbng ph\u00e2n h\u00f3a r\u00f5 n\u00e9t theo t\u1eebng doanh nghi\u1ec7p v\u00e0 nh\u00f3m ng\u00e0nh.<\/p>\n

R\u1ee7i ro v\u1eabn t\u1ed3n t\u1ea1i t\u1eeb b\u1ea5t \u1ed5n \u0111\u1ecba ch\u00ednh tr\u1ecb, \u0111\u1ecbnh gi\u00e1 v\u00e0 m\u1ee9c s\u1eed d\u1ee5ng \u0111\u00f2n b\u1ea9y, nh\u01b0ng ch\u00ednh s\u00e1ch t\u00e0i kh\u00f3a – ti\u1ec1n t\u1ec7 nh\u00ecn chung v\u1eabn theo h\u01b0\u1edbng h\u1ed7 tr\u1ee3 t\u0103ng tr\u01b0\u1edfng. L\u1ee3i nhu\u1eadn doanh nghi\u1ec7p \u0111\u01b0\u1ee3c k\u1ef3 v\u1ecdng c\u1ea3i thi\u1ec7n, trong khi nhi\u1ec1u nh\u00f3m ng\u00e0nh v\u1eabn \u1edf v\u00f9ng \u0111\u1ecbnh gi\u00e1 h\u1ea5p d\u1eabn.<\/p>\n

“Th\u1ecb tr\u01b0\u1eddng kh\u00f4ng b\u00f9ng n\u1ed5 nh\u01b0ng c\u01a1 h\u1ed9i v\u1eabn t\u1ed3n t\u1ea1i n\u1ebfu nh\u00e0 \u0111\u1ea7u t\u01b0 ki\u00ean nh\u1eabn v\u00e0 ch\u1ecdn l\u1ecdc”, \u00f4ng B\u00f9i V\u0103n Huy nh\u1eadn \u0111\u1ecbnh.<\/p>\n

\u0110\u1ed1i v\u1edbi b\u1ea5t \u0111\u1ed9ng s\u1ea3n – l\u1edbp t\u00e0i s\u1ea3n chi\u1ebfm t\u1ec9 tr\u1ecdng l\u1edbn trong danh m\u1ee5c c\u1ee7a ng\u01b0\u1eddi Vi\u1ec7t – \u0111\u00e2y l\u00e0 k\u00eanh nh\u1ea1y c\u1ea3m nh\u1ea5t v\u1edbi l\u00e3i su\u1ea5t. Vi\u1ec7c l\u00e3i su\u1ea5t nh\u00edch l\u00ean c\u00f3 th\u1ec3 t\u1ea1o \u00e1p l\u1ef1c ng\u1eafn h\u1ea1n, \u0111\u1eb7c bi\u1ec7t v\u1edbi c\u00e1c ph\u00e2n kh\u00fac mang t\u00ednh \u0111\u1ea7u c\u01a1 cao.\u00a0<\/p>\n

Tuy nhi\u00ean, v\u1ec1 d\u00e0i h\u1ea1n, FIDT \u0111\u00e1nh gi\u00e1 giai \u0111o\u1ea1n 2026 – 2030 l\u00e0 chu k\u1ef3 t\u00edch c\u1ef1c nh\u1edd \u0111\u1ea7u t\u01b0 c\u00f4ng, ph\u00e1t tri\u1ec3n h\u1ea1 t\u1ea7ng v\u00e0 d\u01b0 \u0111\u1ecba t\u0103ng tr\u01b0\u1edfng d\u00e0i h\u1ea1n c\u1ee7a nhu c\u1ea7u nh\u00e0 \u1edf.<\/p>\n

Song song v\u1edbi hai tr\u1ee5 c\u1ed9t tr\u00ean, tr\u00e1i phi\u1ebfu doanh nghi\u1ec7p \u0111\u01b0\u1ee3c nh\u00ecn nh\u1eadn l\u00e0 k\u00eanh \u0111\u1ea7u t\u01b0 kh\u1ea3 thi khi cung c\u1ea5p m\u1ee9c l\u00e3i su\u1ea5t h\u1ea5p d\u1eabn h\u01a1n so v\u1edbi ti\u1ec1n g\u1eedi, ph\u00f9 h\u1ee3p v\u1edbi nh\u00e0 \u0111\u1ea7u t\u01b0 t\u00ecm ki\u1ebfm thu nh\u1eadp c\u1ed1 \u0111\u1ecbnh.<\/p>\n

Sau giai \u0111o\u1ea1n thanh l\u1ecdc m\u1ea1nh, khung ph\u00e1p l\u00fd ch\u1eb7t ch\u1ebd h\u01a1n, doanh nghi\u1ec7p y\u1ebfu k\u00e9m b\u1ecb lo\u1ea1i b\u1ecf v\u00e0 nh\u00e0 \u0111\u1ea7u t\u01b0 tr\u1edf n\u00ean th\u1eadn tr\u1ecdng h\u01a1n. Nh\u1eefng y\u1ebfu t\u1ed1 n\u00e0y gi\u00fap th\u1ecb tr\u01b0\u1eddng d\u1ea7n minh b\u1ea1ch, t\u1ea1o n\u1ec1n t\u1ea3ng cho kh\u1ea3 n\u0103ng sinh l\u1eddi cao h\u01a1n ti\u1ec1n g\u1eedi n\u1ebfu l\u1ef1a ch\u1ecdn \u0111\u00fang t\u1ed5 ch\u1ee9c ph\u00e1t h\u00e0nh.<\/p>\n

Ti\u1ec1n g\u1eedi, v\u00e0ng, b\u1ea1c: C\u00e2n nh\u1eafc kh\u1ea3 n\u0103ng ch\u1ecbu r\u1ee7i ro<\/h2>\n

K\u00eanh ti\u1ec1n g\u1eedi ng\u00e2n h\u00e0ng – v\u1ed1n \u0111\u01b0\u1ee3c coi l\u00e0 ph\u00f2ng th\u1ee7 – \u0111\u01b0\u1ee3c \u0111\u00e1nh gi\u00e1 \u0111\u00e1ng c\u00e2n nh\u1eafc. B\u1edfi l\u00e3i su\u1ea5t huy \u0111\u1ed9ng c\u00f3 xu h\u01b0\u1edbng nh\u00edch l\u00ean gi\u00fap l\u00e3i su\u1ea5t th\u1ef1c d\u01b0\u01a1ng gia t\u0103ng, bi\u1ebfn \u0111\u00e2y th\u00e0nh m\u1ed9t l\u1ef1a ch\u1ecdn an to\u00e0n h\u1ee3p l\u00fd.<\/p>\n

Tuy v\u1eady, FIDT kh\u00f4ng khuy\u1ebfn ngh\u1ecb n\u1eafm gi\u1eef t\u1ec9 tr\u1ecdng ti\u1ec1n m\u1eb7t qu\u00e1 l\u1edbn trong d\u00e0i h\u1ea1n. Trong giai \u0111o\u1ea1n kinh t\u1ebf t\u0103ng t\u1ed1c, vi\u1ec7c “gi\u1eef ti\u1ec1n” qu\u00e1 l\u00e2u c\u00f3 th\u1ec3 khi\u1ebfn gi\u00e1 tr\u1ecb t\u00e0i s\u1ea3n b\u1ecb b\u00e0o m\u00f2n b\u1edfi l\u1ea1m ph\u00e1t.<\/p>\n

\u1ede g\u00f3c nh\u00ecn t\u1ed5ng th\u1ec3 d\u00f2ng v\u1ed1n, PGS.TS Nguy\u1ec5n H\u1eefu Hu\u00e2n – Ph\u00f3 ch\u1ee7 t\u1ecbch C\u01a1 quan \u0111i\u1ec1u h\u00e0nh, Trung t\u00e2m T\u00e0i ch\u00ednh qu\u1ed1c t\u1ebf Vi\u1ec7t Nam t\u1ea1i TP.HCM – cho r\u1eb1ng ti\u1ec1n g\u1eedi ti\u1ebft ki\u1ec7m v\u1eabn s\u1ebd gi\u1eef v\u1ecb th\u1ebf l\u00e0 k\u00eanh h\u00fat v\u1ed1n m\u1ea1nh nh\u1ea5t. Nguy\u00ean nh\u00e2n \u0111\u1ebfn t\u1eeb hai y\u1ebfu t\u1ed1 l\u00e0 m\u1eb7t b\u1eb1ng l\u00e3i su\u1ea5t huy \u0111\u1ed9ng c\u00f3 xu h\u01b0\u1edbng nh\u00edch t\u0103ng v\u00e0 t\u00ednh an to\u00e0n cao lu\u00f4n l\u00e0 \u01b0u ti\u00ean h\u00e0ng \u0111\u1ea7u c\u1ee7a \u0111\u1ea1i \u0111a s\u1ed1 ng\u01b0\u1eddi d\u00e2n khi t\u00ecm n\u01a1i tr\u00fa \u1ea9n cho t\u00e0i s\u1ea3n.<\/p>\n

Ph\u1ea7n d\u01b0 \u0111\u1ecba c\u00f2n l\u1ea1i c\u1ee7a d\u00f2ng v\u1ed1n s\u1ebd \u0111\u01b0\u1ee3c ph\u00e2n b\u1ed5 sang ch\u1ee9ng kho\u00e1n v\u00e0 v\u00e0ng, song kh\u00f4ng \u0111\u1ed3ng \u0111\u1ec1u. Trong nh\u00f3m c\u00e1c k\u00eanh c\u00f2n l\u1ea1i \u0111\u00f3, v\u00e0ng v\u00e0 b\u1ea1c v\u1eabn n\u1ed5i l\u00ean l\u00e0 k\u00eanh thu h\u00fat \u0111\u01b0\u1ee3c l\u01b0\u1ee3ng v\u1ed1n v\u00e0 s\u1ef1 quan t\u00e2m \u0111\u1eb7c bi\u1ec7t l\u1edbn t\u1eeb ph\u00eda nh\u00e0 \u0111\u1ea7u t\u01b0.\u00a0<\/p>\n

\u0110i\u1ec1u n\u00e0y cho th\u1ea5y t\u00e2m l\u00fd ph\u00f2ng th\u1ee7 v\u00e0 t\u00ecm ki\u1ebfm s\u1ef1 b\u1ea3o to\u00e0n gi\u00e1 tr\u1ecb v\u1eabn \u0111ang hi\u1ec7n h\u1eefu r\u1ea5t r\u00f5 n\u00e9t. Song d\u01b0 \u0111\u1ecba t\u0103ng gi\u00e1 c\u1ee7a v\u00e0ng \u0111\u01b0\u1ee3c \u0111\u00e1nh gi\u00e1 kh\u00f4ng c\u00f2n qu\u00e1 l\u1edbn so v\u1edbi giai \u0111o\u1ea1n tr\u01b0\u1edbc, n\u1ebfu c\u00f3 th\u00ec nh\u00e0 \u0111\u1ea7u t\u01b0 c\u0169ng c\u1ea7n c\u00e2n nh\u1eafc kh\u1ea3 n\u0103ng r\u1ee7i ro gi\u00e1 gi\u1ea3m.<\/p>\n

\u0110\u1ed1i v\u1edbi t\u00e0i s\u1ea3n s\u1ed1, FIDT x\u1ebfp v\u00e0o nh\u00f3m r\u1ee7i ro cao nh\u1ea5t trong n\u0103m 2026. K\u00eanh n\u00e0y ch\u1ec9 ph\u00f9 h\u1ee3p v\u1edbi nh\u00e0 \u0111\u1ea7u t\u01b0 ch\u1ea5p nh\u1eadn bi\u1ebfn \u0111\u1ed9ng l\u1edbn v\u00e0 n\u00ean chi\u1ebfm t\u1ec9 tr\u1ecdng nh\u1ecf trong danh m\u1ee5c.<\/p>\n

Li\u00ean quan \u0111\u1ebfn t\u00e0i s\u1ea3n s\u1ed1, \u00f4ng Hu\u00e2n cho r\u1eb1ng d\u00f9 c\u00f3 nhi\u1ec1u k\u1ef3 v\u1ecdng n\u1ebfu khung ph\u00e1p l\u00fd \u0111\u01b0\u1ee3c ho\u00e0n thi\u1ec7n, nh\u01b0ng kh\u1ea3 n\u0103ng b\u1ee9t ph\u00e1 ngay trong ng\u1eafn h\u1ea1n \u0111\u01b0\u1ee3c \u0111\u00e1nh gi\u00e1 l\u00e0 kh\u00f3 x\u1ea3y ra. Quan \u0111i\u1ec3m ti\u1ebfp c\u1eadn c\u1ee7a Vi\u1ec7t Nam v\u1edbi l\u0129nh v\u1ef1c n\u00e0y v\u1eabn t\u01b0\u01a1ng \u0111\u1ed1i th\u1eadn tr\u1ecdng.<\/p>\n

D\u00f9 ngh\u1ecb quy\u1ebft 05 \u0111\u00e3 ban h\u00e0nh v\u00e0 xu\u1ea5t hi\u1ec7n m\u1ed9t s\u1ed1 \u0111\u1ed9ng th\u00e1i \u0111\u0103ng k\u00fd th\u00e0nh l\u1eadp s\u00e0n giao d\u1ecbch, \u0111\u1ebfn nay v\u1eabn ch\u01b0a c\u00f3 s\u00e0n ch\u00ednh th\u1ee9c \u0111\u01b0\u1ee3c c\u1ea5p ph\u00e9p v\u1eadn h\u00e0nh. C\u00e1c c\u01a1 ch\u1ebf th\u00ed \u0111i\u1ec3m (sandbox) hi\u1ec7n t\u1ea1i \u0111\u01b0\u1ee3c cho l\u00e0 ch\u01b0a \u0111\u1ee7 “tho\u00e1ng” \u0111\u1ec3 t\u1ea1o \u0111\u1ed9ng l\u1ef1c b\u00f9ng n\u1ed5 cho th\u1ecb tr\u01b0\u1eddng trong
ng\u1eafn h\u1ea1n.<\/p>\n

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\"d<\/p>

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Ng\u01b0\u1eddi d\u00e2n mua v\u00e0ng t\u1ea1i khu Ch\u1ee3 Thi\u1ebfc (TP.HCM) – \u1ea2nh: H\u1eeeU H\u1ea0NH<\/p>\n<\/figcaption><\/figure>\n

Kh\u00f4ng c\u00f3 “ng\u00f4i sao” tuy\u1ec7t \u0111\u1ed1i<\/h2>\n

T\u1ed5ng h\u1ee3p c\u00e1c k\u00eanh \u0111\u1ea7u t\u01b0, \u00f4ng Huy cho r\u1eb1ng n\u0103m 2026 kh\u00f4ng c\u00f3 l\u1edbp t\u00e0i s\u1ea3n n\u00e0o v\u01b0\u1ee3t tr\u1ed9i tuy\u1ec7t \u0111\u1ed1i, nh\u01b0ng c\u0169ng kh\u00f4ng c\u00f3 k\u00eanh n\u00e0o ho\u00e0n to\u00e0n k\u00e9m h\u1ea5p d\u1eabn. Th\u1ecb tr\u01b0\u1eddng kh\u00f4ng t\u1ed3n t\u1ea1i m\u1ed9t chi\u1ebfn l\u01b0\u1ee3c hay lo\u1ea1i t\u00e0i s\u1ea3n ph\u00f9 h\u1ee3p v\u1edbi m\u1ecdi nh\u00e0 \u0111\u1ea7u t\u01b0 trong m\u1ecdi th\u1eddi \u0111i\u1ec3m.<\/p>\n

Theo \u00f4ng Ng\u00f4 Th\u00e0nh Hu\u1ea5n – Gi\u00e1m \u0111\u1ed1c \u0111i\u1ec1u h\u00e0nh FIDT, tr\u01b0\u1edbc khi l\u1ef1a ch\u1ecdn s\u1ea3n ph\u1ea9m, nh\u00e0 \u0111\u1ea7u t\u01b0 c\u1ea7n hi\u1ec3u r\u00f5 s\u1ee9c kh\u1ecfe t\u00e0i ch\u00ednh c\u00e1 nh\u00e2n v\u00e0 x\u00e1c \u0111\u1ecbnh \u0111\u00fang “h\u1ed3 s\u01a1 r\u1ee7i ro”.<\/p>\n

“H\u1ed3 s\u01a1 r\u1ee7i ro” g\u1ed3m hai y\u1ebfu t\u1ed1. Th\u1ee9 nh\u1ea5t l\u00e0 kh\u1ea9u v\u1ecb r\u1ee7i ro – mang t\u00ednh ch\u1ee7 quan, ph\u1ea3n \u00e1nh m\u1ee9c \u0111\u1ed9 ch\u1ea5p nh\u1eadn m\u1ea1o hi\u1ec3m. Th\u1ee9 hai, quan tr\u1ecdng h\u01a1n nh\u01b0ng th\u01b0\u1eddng b\u1ecb b\u1ecf qua, l\u00e0 kh\u1ea3 n\u0103ng ch\u1ecbu \u0111\u1ef1ng r\u1ee7i ro, g\u1eafn v\u1edbi thu nh\u1eadp, tr\u00e1ch nhi\u1ec7m gia \u0111\u00ecnh, quy m\u00f4 t\u00e0i s\u1ea3n, ngu\u1ed3n ti\u1ec1n d\u1ef1 ph\u00f2ng v\u00e0 c\u00e1c gi\u1ea3i ph\u00e1p b\u1ea3o v\u1ec7 t\u00e0i ch\u00ednh.<\/p>\n

\u0110\u1ec3 c\u00e1c k\u00eanh \u0111\u1ea7u t\u01b0 v\u1eadn h\u00e0nh v\u00e0 ph\u00e1t tri\u1ec3n, c\u00e1c chuy\u00ean gia \u0111\u01b0a ra m\u1ed9t s\u1ed1 gi\u1ea3i ph\u00e1p.<\/p>\n

Theo TS Ng\u00f4 Minh V\u0169 – gi\u1ea3ng vi\u00ean \u0110\u1ea1i h\u1ecdc Kinh t\u1ebf TP.HCM, th\u1ecb tr\u01b0\u1eddng kh\u00f4ng thi\u1ebfu chi\u1ebfn l\u01b0\u1ee3c hay ngh\u1ecb \u0111\u1ecbnh; \u0111i\u1ec1u m\u00e0 nh\u00e0 \u0111\u1ea7u t\u01b0<\/a> c\u1ea7n l\u00e0 t\u00ednh \u1ed5n \u0111\u1ecbnh v\u00e0 kh\u1ea3 n\u0103ng d\u1ef1 b\u00e1o trong th\u1ef1c thi ph\u00e1p l\u00fd.\u00a0<\/p>\n

C\u00f3 giai \u0111o\u1ea1n ch\u00ednh s\u00e1ch \u0111\u01b0\u1ee3c \u0111i\u1ec1u ch\u1ec9nh theo h\u01b0\u1edbng ph\u1ea3n \u1ee9ng t\u00ecnh hu\u1ed1ng – si\u1ebft m\u1ea1nh sau sai ph\u1ea1m r\u1ed3i n\u1edbi l\u1ecfng \u0111\u1ec3 tr\u00e1nh \u0111\u1ed5 v\u1ee1. C\u00e1ch ti\u1ebfp c\u1eadn n\u00e0y c\u00f3 th\u1ec3 ki\u1ec3m so\u00e1t r\u1ee7i ro ng\u1eafn h\u1ea1n, nh\u01b0ng l\u1ea1i l\u00e0m gia t\u0103ng b\u1ea5t \u0111\u1ecbnh ch\u00ednh s\u00e1ch v\u00e0 b\u00e0o m\u00f2n ni\u1ec1m tin d\u00e0i h\u1ea1n.<\/p>\n

Ch\u1ea5t l\u01b0\u1ee3ng c\u00f4ng b\u1ed1 th\u00f4ng tin c\u1ee7a nhi\u1ec1u doanh nghi\u1ec7p ch\u01b0a ti\u1ec7m c\u1eadn chu\u1ea9n m\u1ef1c qu\u1ed1c t\u1ebf c\u0169ng khi\u1ebfn nh\u00e0 \u0111\u1ea7u t\u01b0 t\u1ed5 ch\u1ee9c g\u1eb7p kh\u00f3 trong th\u1ea9m \u0111\u1ecbnh v\u00e0 \u0111\u1ecbnh gi\u00e1 r\u1ee7i ro \u0111\u1ec3 gi\u1ea3i ng\u00e2n.<\/p>\n

Ngo\u00e0i c\u00e2u chuy\u1ec7n ni\u1ec1m tin, TS Ch\u00e2u \u0110\u00ecnh Linh – gi\u1ea3ng vi\u00ean Tr\u01b0\u1eddng \u0111\u1ea1i h\u1ecdc Ng\u00e2n h\u00e0ng – cho r\u1eb1ng m\u1ed9t v\u1ea5n \u0111\u1ec1 kh\u00e1c l\u00e0 s\u1ef1 thi\u1ebfu v\u1eafng c\u00e1c \u0111\u1ecbnh ch\u1ebf h\u1ed7 tr\u1ee3 \u0111\u1ee7 m\u1ea1nh.\u00a0<\/p>\n

Th\u1ecb tr\u01b0\u1eddng v\u1ed1n Vi\u1ec7t Nam ch\u01b0a c\u00f3 h\u1ec7 th\u1ed1ng x\u1ebfp h\u1ea1ng t\u00edn nhi\u1ec7m th\u1ef1c s\u1ef1 ph\u00e1t huy vai tr\u00f2 nh\u01b0 m\u1ed9t “b\u1ed9 l\u1ecdc” r\u1ee7i ro \u0111\u1ed9c l\u1eadp. Khi kh\u00f4ng c\u00f3 c\u00e1c chu\u1ea9n \u0111\u00e1nh gi\u00e1 kh\u00e1ch quan, nh\u00e0 \u0111\u1ea7u t\u01b0 kh\u00f3 ph\u00e2n lo\u1ea1i ch\u1ea5t l\u01b0\u1ee3ng t\u00e0i s\u1ea3n, t\u1eeb \u0111\u00f3 ho\u1eb7c d\u00e8 d\u1eb7t qu\u00e1 m\u1ee9c, ho\u1eb7c \u0111\u1ea7u t\u01b0 theo t\u00e2m l\u00fd \u0111\u00e1m \u0111\u00f4ng. Th\u1ecb tr\u01b0\u1eddng c\u0169ng thi\u1ebfu c\u00e1c nh\u00e0 t\u1ea1o l\u1eadp th\u1ecb tr\u01b0\u1eddng v\u00e0 c\u00e1c \u0111\u1ecbnh ch\u1ebf \u0111\u1ea7u t\u01b0 d\u00e0i h\u1ea1n \u0111\u1ee7 l\u1edbn.<\/p>\n

TS Linh cho r\u1eb1ng th\u1ecb tr\u01b0\u1eddng v\u1ed1n c\u1ea7n m\u1ed9t t\u01b0 duy \u0111i\u1ec1u h\u00e0nh c\u1edfi m\u1edf v\u00e0 nh\u1ea5t qu\u00e1n h\u01a1n. Vi\u1ec7c \u0111i\u1ec1u ch\u1ec9nh ch\u00ednh s\u00e1ch c\u1ea7n tr\u00e1nh l\u00fac si\u1ebft ch\u1eb7t, l\u00fac n\u1edbi l\u1ecfng m\u00e0 thi\u1ebfu \u0111\u1ecbnh h\u01b0\u1edbng d\u00e0i h\u1ea1n c\u00f3 th\u1ec3 l\u00e0m gia t\u0103ng s\u1ef1 th\u1eadn tr\u1ecdng c\u1ee7a nh\u00e0 \u0111\u1ea7u t\u01b0.<\/p>\n

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T\u1ecda \u0111\u00e0m “Tri\u1ec3n v\u1ecdng c\u00e1c k\u00eanh \u0111\u1ea7u t\u01b0 n\u0103m 2026”<\/h3>\n

Chi\u1ec1u 2-3 t\u1ea1i TP.HCM, b\u00e1o Tu\u1ed5i Tr\u1ebb t\u1ed5 ch\u1ee9c t\u1ecda \u0111\u00e0m “Tri\u1ec3n v\u1ecdng c\u00e1c k\u00eanh \u0111\u1ea7u t\u01b0 n\u0103m 2026”, quy t\u1ee5 chuy\u00ean gia kinh t\u1ebf, nh\u00e0 ho\u1ea1ch \u0111\u1ecbnh ch\u00ednh s\u00e1ch v\u00e0 \u0111\u1ea1i di\u1ec7n doanh nghi\u1ec7p nh\u1eb1m ph\u00e2n t\u00edch b\u1ee9c tranh \u0111\u1ea7u t\u01b0 trong n\u0103m b\u1ea3n l\u1ec1 c\u1ee7a n\u1ec1n kinh t\u1ebf.<\/p>\n

N\u0103m 2026 \u0111\u01b0\u1ee3c k\u1ef3 v\u1ecdng l\u00e0 n\u0103m t\u0103ng t\u1ed1c t\u0103ng tr\u01b0\u1edfng, \u0111\u1ed3ng th\u1eddi l\u00e0 n\u0103m \u0111\u1ea7u ti\u00ean tri\u1ec3n khai ngh\u1ecb quy\u1ebft \u0110\u1ea1i h\u1ed9i XIV c\u00f9ng nhi\u1ec1u ngh\u1ecb quy\u1ebft quan tr\u1ecdng nh\u01b0 ngh\u1ecb quy\u1ebft 68 v\u1ec1 kinh t\u1ebf t\u01b0 nh\u00e2n, ngh\u1ecb quy\u1ebft 57 v\u1ec1 khoa h\u1ecdc – c\u00f4ng ngh\u1ec7.<\/p>\n

Trong b\u1ed1i c\u1ea3nh ch\u00ednh tr\u1ecb, t\u00e0i ch\u00ednh to\u00e0n c\u1ea7u bi\u1ebfn \u0111\u1ed9ng, ch\u00ednh s\u00e1ch ti\u1ec1n t\u1ec7 thay \u0111\u1ed5i v\u00e0 t\u00e0i s\u1ea3n s\u1ed1 gia t\u0103ng \u1ea3nh h\u01b0\u1edfng, y\u00eau c\u1ea7u \u0111\u1eb7t ra v\u1edbi nh\u00e0 \u0111\u1ea7u t\u01b0 l\u00e0 ph\u1ea3i c\u00f3 g\u00f3c nh\u00ecn \u0111a chi\u1ec1u v\u00e0 k\u1ef7 lu\u1eadt h\u01a1n trong ph\u00e2n b\u1ed5 v\u1ed1n.<\/p>\n

T\u1ecda \u0111\u00e0m h\u01b0\u1edbng \u0111\u1ebfn vi\u1ec7c cung c\u1ea5p c\u00e1i nh\u00ecn to\u00e0n c\u1ea3nh v\u1ec1 c\u00e1c k\u00eanh \u0111\u1ea7u t\u01b0 ch\u1ee7 l\u1ef1c n\u0103m 2026 – t\u1eeb ch\u1ee9ng kho\u00e1n, b\u1ea5t \u0111\u1ed9ng s\u1ea3n, v\u00e0ng, tr\u00e1i phi\u1ebfu, ngo\u1ea1i t\u1ec7 \u0111\u1ebfn t\u00e0i s\u1ea3n s\u1ed1 – \u0111\u1ed3ng th\u1eddi t\u1ea1o di\u1ec5n \u0111\u00e0n \u0111\u1ed1i tho\u1ea1i, gi\u00fap nh\u00e0 \u0111\u1ea7u t\u01b0 nh\u1eadn di\u1ec7n c\u01a1 h\u1ed9i v\u00e0 qu\u1ea3n tr\u1ecb r\u1ee7i ro trong m\u1ed9t n\u0103m nhi\u1ec1u k\u1ef3 v\u1ecdng nh\u01b0ng c\u0169ng kh\u00f4ng \u00edt th\u00e1ch th\u1ee9c.<\/p>\n<\/div>\n

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Ph\u1ea5n \u0111\u1ea5u th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n \u0111\u1ea1t \u00edt nh\u1ea5t 100% GDP<\/h3>\n
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\"R\u1ee7i<\/p>

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Ch\u1ee9ng kho\u00e1n \u0111\u01b0\u1ee3c xem l\u00e0 m\u1ed9t trong hai k\u00eanh \u0111\u1ea7u t\u01b0 tr\u1ee5 c\u1ed9t n\u0103m 2026 – \u1ea2nh: H\u1eeeU H\u1ea0NH<\/p>\n<\/figcaption><\/figure>\n

M\u1edbi \u0111\u00e2y, B\u1ed9 tr\u01b0\u1edfng B\u1ed9 T\u00e0i ch\u00ednh \u0111\u01b0a ra th\u00f4ng \u0111i\u1ec7p n\u0103m 2026, ph\u1ea5n \u0111\u1ea5u quy m\u00f4 th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n \u0111\u1ea1t \u00edt nh\u1ea5t 100% GDP.<\/p>\n

Chuy\u00ean gia Ch\u1ee9ng kho\u00e1n BIDV (BSC) cho bi\u1ebft m\u1ee5c ti\u00eau n\u00e0y l\u00e0 ho\u00e0n to\u00e0n c\u00f3 c\u01a1 s\u1edf, khi so v\u1edbi c\u00e1c th\u1ecb tr\u01b0\u1eddng m\u1edbi n\u1ed5i trong khu v\u1ef1c. Th\u00e1i Lan, Malaysia, H\u00e0n Qu\u1ed1c c\u00f3 v\u1ed1n h\u00f3a th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n t\u1eeb 100 – 120%\/GDP, c\u00e1c n\u01b0\u1edbc ph\u00e1t tri\u1ec3n t\u1eeb 150 – 200%\/GDP.<\/p>\n

\u0110\u1ec3 \u0111\u1ea1t \u0111\u01b0\u1ee3c m\u1ee5c ti\u00eau n\u00e0y, \u00f4ng B\u00f9i Nguy\u00ean Khoa (BSC) nh\u1ea5n m\u1ea1nh c\u1ea7n m\u1edf r\u1ed9ng h\u00e0ng h\u00f3a ch\u1ea5t l\u01b0\u1ee3ng cao b\u1eb1ng \u0111\u1ea9y m\u1ea1nh c\u1ed5 ph\u1ea7n h\u00f3a, tho\u00e1i v\u1ed1n doanh nghi\u1ec7p nh\u00e0 n\u01b0\u1edbc, khuy\u1ebfn kh\u00edch c\u00e1c doanh nghi\u1ec7p t\u01b0 nh\u00e2n v\u00e0 doanh nghi\u1ec7p FDI l\u1edbn ni\u00eam y\u1ebft… V\u1ec1 ph\u00eda c\u1ea7u, c\u1ea7n k\u00edch ho\u1ea1t d\u00f2ng ti\u1ec1n.<\/p>\n

Vi\u1ec7c \u0111\u01b0a h\u1ec7 th\u1ed1ng KRX v\u00e0o v\u1eadn h\u00e0nh, ti\u1ebfn t\u1edbi r\u00fat ng\u1eafn chu k\u1ef3 thanh to\u00e1n xu\u1ed1ng T+2, tri\u1ec3n khai CCP, cho ph\u00e9p c\u00e1c s\u1ea3n ph\u1ea9m nh\u01b0 b\u00e1n kh\u1ed1ng, giao d\u1ecbch trong ng\u00e0y… s\u1ebd gi\u00fap th\u1ecb tr\u01b0\u1eddng ti\u1ec7m c\u1eadn chu\u1ea9n qu\u1ed1c t\u1ebf, t\u1eeb \u0111\u00f3 thu h\u00fat c\u1ea3 nh\u00e0 \u0111\u1ea7u t\u01b0 trong v\u00e0 ngo\u00e0i n\u01b0\u1edbc.<\/p>\n

Theo \u01b0\u1edbc t\u00ednh c\u1ee7a nhi\u1ec1u t\u1ed5 ch\u1ee9c qu\u1ed1c t\u1ebf, n\u1ebfu \u0111\u01b0\u1ee3c FTSE n\u00e2ng h\u1ea1ng, Vi\u1ec7t Nam c\u00f3 th\u1ec3 thu h\u00fat h\u00e0ng t\u1ec9 USD d\u00f2ng v\u1ed1n ngo\u1ea1i. Quan tr\u1ecdng h\u01a1n, vi\u1ec7c n\u00e2ng h\u1ea1ng s\u1ebd t\u1ea1o hi\u1ec7u \u1ee9ng lan t\u1ecfa, n\u00e2ng cao ni\u1ec1m tin c\u1ee7a nh\u00e0 \u0111\u1ea7u t\u01b0 trong n\u01b0\u1edbc.<\/p>\n

Cu\u1ed1i c\u00f9ng, c\u1ea7n nh\u1ea5n m\u1ea1nh r\u1eb1ng \u0111\u1ec3 d\u00f2ng ti\u1ec1n d\u1ecbch chuy\u1ec3n b\u1ec1n v\u1eefng, th\u1ecb tr\u01b0\u1eddng ph\u1ea3i mang l\u1ea1i l\u1ee3i su\u1ea5t h\u1ea5p d\u1eabn \u0111i k\u00e8m v\u1edbi r\u1ee7i ro h\u1ee3p l\u00fd. Khi l\u1ee3i nhu\u1eadn doanh nghi\u1ec7p t\u0103ng tr\u01b0\u1edfng \u1ed5n \u0111\u1ecbnh \u1edf m\u1ee9c 15 – 17%\/n\u0103m nh\u01b0 k\u1ef3 v\u1ecdng, th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n s\u1ebd t\u1ef1 tr\u1edf th\u00e0nh k\u00eanh thu h\u00fat v\u1ed1n m\u1ed9t c\u00e1ch t\u1ef1 nhi\u00ean.<\/p>\n<\/p><\/div>\n

<\/pattern> <\/defs> <\/svg> \u0110\u1ecdc ti\u1ebfp <\/a> <\/pattern> <\/defs> <\/svg> V\u1ec1 trang Ch\u1ee7 \u0111\u1ec1 <\/a> <\/p>\n<\/p><\/div>","protected":false},"excerpt":{"rendered":"

K\u00eanh \u0111\u1ea7u t\u01b0 b\u1ea5t \u0111\u1ed9ng s\u1ea3n n\u0103m nay c\u00f3 th\u1ec3 ch\u1ecbu \u00e1p l\u1ef1c kh\u00f4ng nh\u1ecf t\u1eeb l\u00e3i su\u1ea5t ng\u00e2n h\u00e0ng […]<\/p>","protected":false},"author":5,"featured_media":62228,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[219],"tags":[],"class_list":["post-62227","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-vang"],"acf":[],"_links":{"self":[{"href":"https:\/\/hbbgroup.net\/zh\/wp-json\/wp\/v2\/posts\/62227","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\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/hbbgroup.net\/zh\/wp-json\/wp\/v2\/comments?post=62227"}],"version-history":[{"count":0,"href":"https:\/\/hbbgroup.net\/zh\/wp-json\/wp\/v2\/posts\/62227\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/hbbgroup.net\/zh\/wp-json\/wp\/v2\/media\/62228"}],"wp:attachment":[{"href":"https:\/\/hbbgroup.net\/zh\/wp-json\/wp\/v2\/media?parent=62227"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hbbgroup.net\/zh\/wp-json\/wp\/v2\/categories?post=62227"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hbbgroup.net\/zh\/wp-json\/wp\/v2\/tags?post=62227"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}