Macro-financial risk
2026-04-26
9 minute read
5 sources
Vietnam 2026: FDI Absorption, Dong Management, and the Real Estate Cycle
Foreign capital is still arriving in record volumes, but the State Bank of Vietnam is squeezing the dong, the bond market is convalescing from the SCB shock, and the power grid is the binding constraint on the next leg of growth.
Vietnam enters 2026 with the most crowded order book in emerging Asia: registered FDI of roughly USD 41 billion in 2025, a 6.8 percent GDP print, and an export base whose top line again brushes USD 410 billion. The composition of capital is shifting toward Korean and Singaporean electronics, with Chinese midstream supplier flows now the m...