Vietnam has largely overcome the effects of US tariffs and is pushing ahead with reforms to support its target of double-digit annual GDP growth through to 2030. While one of Vietnam Holding (VNH)’s comparator indices rose 28% in 2025, more than half of this was due to a single company that VNH does not hold.
Despite strong growth prospects, most of the Vietnamese market is still attractively priced, with VNH’s portfolio trading at a forecast P/E of just 9.5x at the end of December 2025. This ....
