VCBF Expert: Slower AI Investment Could Help Bring Foreign Capital Back to Vietnam’s Stock Market
At a forum on November 12, VCBF portfolio manager Nguyễn Duy Anh said slower global AI investment could lower component prices and Vietnam’s electronics production costs. International capital could also shift toward lower valued markets, creating an opportunity for Vietnam’s stock market to attract foreign investors in 2027.
On November 12, 2026, VCBF portfolio manager Nguyễn Duy Anh said at a capital markets forum that Vietnam could benefit from lower electronics production costs and a shift in international capital if global artificial intelligence (AI) investment slows. He stressed that these outcomes depend on component prices, production and exports, and investors’ decisions; they are not certain to occur.
VCBF portfolio manager Nguyễn Duy Anh.（VietVance）
Nguyễn Duy Anh said Vietnamese companies currently have limited direct involvement in the AI supply chain, with benefits coming mainly through electronics exports. Since early 2026, prices for components such as chips and memory have risen sharply, while phone export prices have been difficult to adjust at the same pace, putting cost pressure on electronics manufacturers.
He said that, according to information available to him, Samsung’s phone business recorded losses in the second and third quarters of 2026 as component costs rose and selling prices proved difficult to adjust. He also said changes in component costs relative to electronics export prices were one factor behind the goods trade deficit. If slower AI investment reduces component demand and prices, Vietnam’s electronics production costs could fall and its goods trade balance could improve.
A discussion at the capital markets forum on November 12, 2026.（VietVance）
On capital flows, Nguyễn Duy Anh said substantial international investment is currently concentrated in AI companies and related infrastructure projects. If AI investment growth slows, investors may turn to other sectors or markets with lower valuations. He said Vietnam’s macroeconomic outlook remains positive and valuations of some stocks have fallen; if global investment preferences change, these conditions could help Vietnam’s stock market attract foreign investors again in 2027.
Source: VietVance
