Investment expert: Having VND 2–3 billion does not mean you know how to invest
At the Vietnam Investment Forum 2027, Manulife Investment executive Nguyễn Đức Hải said assets of VND 2–3 billion alone are not a sound measure of an investor’s expertise. He called for a greater role for institutional investors and financial intermediaries, alongside improved oversight of bond issuers.
At a discussion at the Vietnam Investment Forum 2027, Nguyễn Đức Hải, Senior Investment Director at Manulife Investment Vietnam Fund Management Company, said that having assets of VND 2–3 billion does not mean a person is capable of participating in high-risk investment markets. Complex products contain extensive terms and require strong research and analytical skills; he said it is unreasonable to assess professional investor status solely by asset size.
Nguyễn Đức Hải, Senior Investment Director at Manulife Investment Vietnam Fund Management Company.（VietVance）
Nguyễn Đức Hải said that before 2021, Vietnam’s capital market sold too many products directly to individual investors without adequately assessing their capabilities or whether the products suited them. He recalled warning in 2015 that, without effective oversight of individual investment activity, the consequences could extend beyond finance. He called for financial intermediaries, such as investment funds and entrusted asset managers, to pool small amounts of capital for professionals to manage and invest, while attracting more foreign and institutional investors.
On the fundraising side, he recommended making the rules for handling violations more transparent, encouraging compliant businesses and dealing strictly with conduct such as deceiving investors. He also said responsibility for inspections should not fall entirely on provincial governments. Citing inspections of how proceeds from bond issuances are used, he said conversations with businesses showed they worry that issuing bonds may not successfully raise funds and that interest rates may not be substantially lower than those on bank loans, making compliance costs a burden.
Nguyễn Đức Hải said capital markets need to maintain discipline while avoiding excessively strict regulation that raises issuers’ compliance costs. He argued that the investor base and the issuance environment should be improved together to strengthen investor confidence and give businesses greater confidence in raising funds through the market.
Source: VietVance
