Happy Wednesday!
We have not been posting for a while - and some of you noticed immediately (which we are happy about).
The Bánh Mì Brief team is currently working on bringing the brief to the next level - so stay tuned! (And please bear with us if you don‘t find a brief in your inbox every week).
In the meantime (we know it‘s not Sunday yet), we wanted to give you an heads up on the latest news, so that you know we are still alive and markets in Vietnam are still moving.
Happy read!
📈 Capital Markets
FTSE Russell Confirms Vietnam's Emerging Market Upgrade for September
In the single biggest capital markets development in years, FTSE Russell officially confirmed it will upgrade Vietnam from frontier to secondary emerging market status in September 2026, following an interim review. Vietnamese equities will be phased into FTSE global equity indices, with the country expected to account for approximately 0.35% of the FTSE Emerging All Cap index. Passive funds tracking the index will be compelled to purchase Vietnamese equities, ensuring a structural floor of demand. The State Securities Commission called it a "significant milestone" that will "attract large-scale international investment flows and strengthen Vietnam's position in the global financial system."
📰 Reuters | CNBC
VN-Index Bounces — But Faces Headwinds
Vietnam's benchmark VN-Index closed at approximately 1,677 points on Tuesday, up slightly from the previous session, and is expected to see a further lift today on the back of the FTSE upgrade confirmation and a US-Iran ceasefire announcement that boosted global sentiment. However, the index remains down ~6% year-to-date after foreign investors recorded net outflows of approximately $1.21 billion from the Ho Chi Minh Stock Exchange so far in 2026, following $5 billion in net outflows in 2025. Analysts at Maybank Securities noted that as the September inclusion approaches, "trading activity and foreign participation should increase, with potential short-term volatility around rebalancing periods."
📰 Business Times SG | Dantri
🏛️ Politics & Policy
Major Leadership Reshuffle: New PM, New Central Bank Governor
Vietnam's National Assembly confirmed a significant leadership transition this week. Le Minh Hung, a former central bank governor, was elected Prime Minister for the 2026–2031 term. To fill the vacancy he left, parliament approved Pham Duc An, 56 — the former chairman of Agribank, Vietnam's largest agricultural lender — as the new State Bank of Vietnam Governor. Outgoing governor Nguyen Thi Hong, who served for five years, will transition to vice chairwoman of the National Assembly. Pham Duc An inherits a mandate to support economic growth amid headwinds from global tariffs and the ongoing Middle East war, which has disrupted oil supplies and dented global trade sentiment.
📰 Bloomberg | Straits Times
To Lam Plans China Visit April 14–17 Following Presidential Elevation
General Secretary To Lam, freshly sworn in as State President on April 7 — consolidating both the party and state top roles, akin to China's model under Xi Jinping — is expected to visit Beijing the week of April 14–17 to meet President Xi Jinping. The trip, still being finalised, would prioritise energy security (Vietnam depends on Chinese imports of oil products and jet fuel amid the Gulf supply crunch), tech cooperation (including telecom infrastructure and 5G), and potentially new agreements on special economic zones near the China-Vietnam border. The two communist neighbours are also navigating shared anxieties over US tariff pressure.
📰 Reuters via US News
💼 Business & Economy
FDI Surges 42.9% in Q1 — $15.2 Billion Registered
Vietnam attracted $15.2 billion in registered foreign direct investment in Q1 2026, up a remarkable 42.9% year-on-year, cementing its status as Southeast Asia's top investment destination alongside Malaysia and Indonesia (per Milken Institute's 2026 Global Opportunity Index). Disbursed FDI for 2025 was previously reported at $27.6 billion, up 9% on-year. The surge reflects continued confidence in Vietnam's manufacturing base and infrastructure, with the construction sector alone expected to grow 7.9% in 2026.
📰 The Star | VIR
Q1 Exports Hit $123 Billion — Up 19.1% Year-on-Year
Vietnam posted a strong export performance in Q1 2026, with total exports reaching nearly $123 billion, a 19.1% jump from the same period last year. Computers, phones, and machinery led the surge, collectively generating nearly half of total export revenue. However, strong import growth pushed the trade balance to a $3.64 billion deficit for the quarter — a sign of robust domestic investment and manufacturing activity. Ho Chi Minh City separately reported its strongest Q1 GDP growth in five years, expanding at 8.27%.
📰 VOV | Vietnam News