Vietnam

Investment

Vietnam is a vital part of the global gold market. It is one of the largest gold investment markets in South East Asia and gold is part of every day life in Vietnam, owned by 72% of investors. But investment options are limited and investors thirst for a greater range of products and ways in which to invest.

Within Vietnam, we conducted:

interviews with retail investors across the country.

Gold has a uniquely strong position in Vietnam

Gold accounted for four out of every ten investment products bought over the previous 12 months. And when asked about how they might invest their money, gold was the first investment product that came to mind for 68% of our sample.

Types of investment owned in the past 12 months

Gold

Savings accounts

Life insurance

Real estate/property/agricultural land

Cryptocurrencies or other tokenised assets

It is widely believed to offer security and protection

There is widespread agreement among Vietnamese retail investors with the view that gold is a safeguard against uncertainty and inflation. And eight in ten investors say that it generates a feeling of long-term security.

Top ten attitudes to gold

81%

Gold is a good safeguard against periods of political/economic uncertainty

81%

Owning gold makes me feel secure for the long term

79%

Gold is a good safeguard against inflation/ currency fluctuations

However, there is room for growth

While ownership levels are extremely high, 9% of investors say they would consider investing in gold having never previously bought it. But they cite barriers to doing so, including a lack of know-how and perceptions that gold is unaffordable. Digitisation may have a role here, in offering smaller investment denominations.

Considering investing in gold
Has invested in the past

Considering investing in gold
Never invested in the past

Won't consider investing in gold

The gold industry has an opportunity to modernise

The domestic gold market is highly regulated and Vietnamese investors are limited as to where and how they invest in gold. Our survey revealed strong support for measures to open new avenues for investing in gold, which could help gold solidify its position amid Vietnam’s vibrant FinTech landscape.

Strong support for market liberalisation

% in favour of potential reform

Deposit gold with a bank and earn interest

Open a gold investment account with a bank

Buy gold from a wider range of banks

Vault gold rather than store at home

Have a gold exchange or trading platform authorised by SBV

We hope these insights provide the industry with the tools it needs to develop, enhance and – ultimately – grow Vietnam’s gold investment market.

Download the retail
insights Investment report for Vietnam

Download PDF