Vietnam Macro Update Q2/2025 and important information in mid-July

Summary of key information:

• The world is more stable after tariff developments at the beginning of the month. Countries pursue different negotiation strategies with certain results.
• The economies of countries, especially the US and China, are growing well, but the sustainability is different.
• Vietnam’s economy grew strongly in Q2, steadily moving forward according to the 2025 targets. However, risks are also present in the system and need to be carefully monitored and intervened when necessary.

VNIdex has recovered strongly after a volatile period in early April. On July 28, VNIndex officially set a new historical high at 1,557 points thanks to domestic cash flows, especially from domestic institutional cash flows.

Currently, Vietnam’s stock market is increasing thanks to three main drivers:

• The first is information about more positive tariffs than initially (20% for Vietnamese goods, 40% for transshipment goods compared to 46%)
• Secondly, the prosperous business results of many enterprises due to the government’s policy of easing and disbursing public investment
• Third, is Vietnam’s potential upgrade to an “emerging market” status by FTSE Russell.

GTJASVN_Macro Report_ Q2.2025 – Eng Ver