Greetings John,

As you know, Vietnam’s economy has faced a number of challenges in the first six months of 2023, as global and local issues continue to weigh on growth. Nevertheless, the stock market is up over 12% year-to-date, beating all ASEAN peers, while also presenting enormous value at a forward PER 11.6x, which is quite low relative to Vietnam’s own historical valuations.

Next week, VinaCapital will host our 1^st Half of 2023 Economic & Market Review And Outlook For 2023 webinar on Thursday 06 July 2023 at 4pm Vietnam time/ 5pm Singapore time / 10am UK time. Andy Ho, Chief Investment Officer, and Michael Kokalari, Chief Economist, will review Vietnam’s economic and stock market performance and share their forward looking insights on what to expect in the second half of the year.  After their prepared comments, we will have Q&A and answer questions from the audience. 

We remain as confident as ever in Vietnam’s long-term growth prospects as well as our ability to build high conviction portfolios and deliver long term alpha for our investors.