Vietnam was hit hard by the Covid-19 pandemic in 2021, resulting in numerous lockdowns which negatively impacted economic growth. However, the Vietnamese economy is expected to recover quickly in 2022 thanks to rapid progress in vaccination and lifting of the last restrictions. Over the next 5 years, the Vietnamese Government will focus on attracting foreign direct investment and privatising state-owned enterprise. In December, Ho Chi Minh index is up by 1.3% and Hanoi index is up by 3.5%. Our reference portfolio is down by 0.5% this month. Anh Thomas returns over the long run are quite impressive. Since being launched, Anh Thomas portfolio overall return is +808.7% greatly outperforming both Hanoi and Ho Chi Minh indexes (+586.8% and +276.4% respectively).