GLOBALIZATION IS IMPERIALI$M
Vanguard plans to channel about $2.5bn (VND65 trillion) into Vietnam through its investment portfolios over the coming year, VnEconomy reported on September 19. The money will be invested on behalf of millions of people worldwide, according to Duncan Burns, Head of Investment Management and Global Equity, Asia-Pacific at Vanguard Australia.
Burns was speaking at a conference in Hanoi on the evening of September 18 titled "Vietnam in the FTSE Russell Global Equity Index Series (FTSE GEIS)", held as the Southeast Asian country moves into the index provider's emerging market classification. Index inclusion typically draws passive money from funds that track global benchmarks, tying a market's fortunes more closely to international capital flows.
Burns said the upgrade was a crucial and highly promising milestone in the continued development of Vietnam's capital market, and marked the country's deeper integration into the international financial system.
Vanguard manages a substantial share of index assets tracking global emerging market equity benchmarks, giving the asset manager a detailed view of how the group of indices functions. Burns said the firm supports the transparent methodologies developed by the FTSE Russell team, and that Vietnam had earned its position after years of reform and development.
Improvements in market accessibility, transparency and market infrastructure have made Vietnam an increasingly attractive destination for investment, he said.
That matters because Vanguard is not a short-term trader, Burns said. The firm's index funds and exchange-traded funds are built around long-term investment, and Vanguard expects to hold its Vietnamese positions for decades, for as long as the country remains in the benchmark index.
Many of those investors may never have set foot in Vietnam, Burns said, but through globally diversified portfolios they will be able to take part in the country's sustainable growth.
He said he had spent a week in Vietnam and was most struck by the country's intense focus on the opportunities ahead. Inclusion in the index was not the final destination but the starting point for something much greater, he said.
Burns added that a place in major benchmark indices historically brings greater international visibility, wider investor participation, better access to capital and deeper integration into the global financial system.
Thai Central Group plans further $1.5bn investment in Vietnam
The Thai conglomerate will direct the new investment towards retail, shopping centres and hospitality as it seeks to expand its presence across the Vietnamese market, according to Vietnam Investment Review.
Central Group (CRC) entered Vietnam in 2012 through Central Retail and has since developed a broad retail portfolio featuring GO!, Tops Market, Lan Chi Mart and Supersports. The group currently operates more than 300 stores and shopping centres across 26 cities and provinces.
The latest commitment would bring Central Group’s total investment in Vietnam to about $3bn, following approximately $1.5bn already invested.
Chairwoman Wallaya Chirathivat announced the plans during Vietnam Week in Thailand 2026. She identified Vietnam’s economic growth, expanding consumer base and opportunities to bring modern retail formats to smaller cities as key factors behind the group’s continued expansion.
Central Retail Vietnam chief executive Olivier Langlet said most of the new funding would support retail and shopping centre developments, with additional investment planned for hotels and other hospitality projects.
The group has identified about 200 potential locations in urban areas for further assessment.
Central Group’s hospitality portfolio in Vietnam includes the 984-room Centara Mirage Resort Mui Ne in Lam Dong, which opened in 2020. Two further hotels are under construction in Van Don, Quang Ninh, adding around 1,000 rooms.
Vietnam’s Ministry of Industry and Trade estimated the country’s retail market at approximately $269bn in 2025.
Central Retail Vietnam generated more than $720.5mn in revenue during the first half of 2026, accounting for about 20% of Central Group’s total revenue. Vietnam remains the group’s second-largest market after Thailand.
By the end of August 2026, Thai investors had registered 824 projects in Vietnam, representing combined capital of more than $15.47bn, according to the Foreign Investment Agency.
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