Foreign investors, especially hedge funds, have spent an estimated sum of US$123 million buying Vietnamese stocks over the past three months and they currently own about 31 percent of the market, according to the paper.

New funds valued at US$1.8 billion have been raised to invest in Vietnam for next year, John Lomax, a Hongkong Shanghai Bank of Cooperation strategist, was quoted by the paper as saying.

The Financial Times also pointed out the fact that investors are rushing to invest in a diverse group of what is called "frontier markets" because of their clear prospect of more returns.

Since 2003, the amount of foreign direct investment (FDI) have risen remarkably by 570 percent in Ukraine, 279 percent in Kenya and 79 percent in Bangladesh.

According to the paper, this is due to the growing trend of investment in Africa and eastern European countries such as Bulgaria, Estonia, Latvia, Lithuania, Romania, Slovakia and Slovenia. It seems likely that more investment capital will flow into these frontier markets next year.