Vietnam's capital markets are growing, but are they ready to finance the country's next decade? Drawing on insights from KPMG, SSI, Dragon Capital, HSBC, VinaCapital and other financial institutions at the Capital Intelligence Forum 2026, Vietnam Vanguard examines ten structural challenges — from excessive bank dependence and weak institutional investment to capital formation, market transparency and the shortage of investment-ready companies.

Cost of funds for experienced developers is near a historic low. Permitting timelines running three times longer than underwriting models assume are what's actually dragging achievable returns down to 15% — and three named investors on the same panel independently point to the same root cause.

Vietnam's IFC decree sets up a genuine long-term asset. Its own advisor's timeline — and its own Ministry of Finance's numbers — point to where the real execution priority sits before 2030.