{
  "id": 6215851,
  "title": "Vietnam s challenge to turn market reform into long term capital",
  "url": "https://urgent.news/2026/09/08/vietnam-s-challenge-to-turn-market-reform-into-long-term-capital",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-08T02:16:13.000Z",
  "source": {
    "name": "Vietnam Investment Review",
    "slug": "vietnam-investment-review",
    "url": "https://vir.com.vn/vietnams-challenge-to-turn-market-reform-into-long-term-capital-159033.html"
  },
  "original_language": "en",
  "account": "Mickey Maini, founder of Solstice Laboratory, explained that Vietnam's market upgrade was \"a receipt, not a prize.\" In 2024, foreign investors stopped pre-funding shares, while Vietnamese investors absorbed the selling, maintaining the index near record levels. The barrier at the market's border was eliminated gradually, allowing smaller risks and better pricing. Vietnamese investors recognized the progress early on. Maini advised Vietnamese managing wealth to identify stress sources and invest in scarce and needed assets, rather than those whose value depends solely on continual growth. He emphasized measuring wealth against real things, not just paper money.\n\nMaini provided advice for founders raising capital today: understand that the investment story has changed, targeting technology and resources. Vietnam, with its consumers, resources, and engineers, offers a unique opportunity. He suggested five rules: investing in technology and the real economy, verifiable businesses, owning something difficult to replicate, taking capital that raises standards, and making the company the easiest first investment for new owners.\n\nVietnam should focus on the queue in four key areas: global production rerouting, power grid development, minerals processing, and market infrastructure. Maini expressed concern about the pace of market development but remained optimistic, citing Vietnam's growth from just two listed companies in 2000 to over 1,600 today. Over the past 40 years, Vietnam's market has grown significantly, demonstrating a promising long-term outlook.",
  "summary": "According to Mickey Maini founder of Solstice Laboratory an independent research centre focused on markets geopolitics and finance following Vietnam s market upgrade the next challenge is to turn sustained capital inflows and deeper economic development",
  "key_points": [
    "Vietnam's market reform is a process, not a completed achievement.",
    "Foreign investors stopped pre-funding shares in 2024, while Vietnamese investors absorbed sales."
  ],
  "editors_take": "Vietnam's market reform must shift towards attracting long-term capital by targeting key areas such as technology, resources, and infrastructure to sustain growth and offer unique investment opportunities.",
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}