The greater freedom for private business may also be supporting banks and the financial sector, with five of the country’s six listed lenders outperforming the broader Vietnamese benchmark Monday. VNM’s portfolio also includes a 46.2% tilt toward the financial sector.
The party congress is also expected to set an outline for economic reforms and growth. For example, the proposed socioeconomic plan through 2020 show economic growth could expand as much as an average 7% annually, with gross domestic product per capita of $3,200 to $3,500 by 2020, compared to current International Monetary Fund’s estimates of about $2,170.
The IMF argues that Vietnam could be one of the fastest growing economies int eh Asia-Pacific region if the government can hit the goals.
Market Vectors Vietnam ETF
Max Chen contributed to this article.