Going Global: The Roadmap for Vietnam’s Private Sector Beyond 2025

By September 2025, Vietnam’s private sector is more vocal than ever about its global ambitions. At the Vietnam Private Sector Forum, business leaders presented clear roadmaps for international expansion. From branding to policy reform, their proposals highlighted both progress and persistent challenges. The question facing Vietnam is not whether its companies can compete globally, but how quickly they can transform ambition into sustained presence abroad.

Macroeconomic Base and Regional Position

Vietnam’s macroeconomic performance continues to underpin confidence. GDP growth has remained above six percent in 2025, supported by export growth exceeding 15 percent and foreign direct investment climbing nearly nine percent year on year. Inflation has stayed manageable, reinforcing stability for long-term planning. These fundamentals give Vietnamese firms the confidence to pursue global markets and encourage investors to view the country as a reliable partner in regional supply chains.

Vietnam’s geographic position also strengthens its outlook. Proximity to major Asian economies, integration into trade agreements such as the CPTPP and RCEP, and a strong manufacturing base provide unique leverage. For private enterprises, these factors translate into opportunities to expand production abroad, secure new export markets, and participate more directly in global value chains. The foundations for internationalisation are already present, but the transition from local champion to global competitor requires deliberate strategy.

National Branding as a Strategic Priority

One of the recurring themes of the 2025 forum was branding. Executives from industries as diverse as furniture, agriculture, and consumer goods stressed that Vietnam lacks a consistent global image. Products often reach international markets but under foreign labels, capturing limited brand equity. Without national branding, Vietnamese enterprises remain dependent on price competitiveness rather than recognition for quality and innovation.

Business leaders proposed a coordinated national branding campaign. This would involve government support for global trade fairs, export promotion activities, and communication initiatives that position Vietnam as a credible global supplier. For the wood and furniture industry, this means presenting Vietnam not only as a low-cost producer but also as a design-oriented hub. For consumer goods, it means building recognition that Vietnamese brands can compete on quality with regional peers. Branding, in this sense, is not just a marketing exercise but a strategy to capture value at every stage of the supply chain.

Progress in 2025 has been modest but visible. Several domestic companies have launched international campaigns, particularly in food and beverage, while others have experimented with digital-first branding strategies. Yet these remain isolated efforts. To achieve scale, Vietnam must treat branding as a collective mission, not just an individual choice. The roadmap to going global begins with visibility.

Policy Support and Institutional Reform

Another key theme has been policy reform. Entrepreneurs emphasised that global competitiveness requires a supportive domestic environment. Complicated administrative procedures, slow VAT refunds, and inconsistent provincial enforcement remain obstacles. These issues not only increase costs but also reduce the ability of firms to respond quickly to international demand.

At the forum, executives proposed simplifying fire safety and licensing processes, accelerating VAT refund timelines, and streamlining customs procedures. They also urged more predictable application of rules across provinces. Policymakers responded positively, acknowledging that procedural efficiency is now as critical as tax incentives or subsidies. For firms aiming to expand abroad, predictability at home is the foundation for risk-taking overseas.

Some reforms have begun. Pilot fast-track systems in provinces such as Binh Duong and Dong Nai are showing early results, reducing approval times for exporters. While scaling these reforms nationwide remains a challenge, the direction is encouraging. Investors will be watching closely to see whether Vietnam can sustain this momentum and align its domestic systems with international expectations.

Financing and Capital Access

Capital is essential for international expansion, and Vietnamese enterprises often face constraints. Many small and medium-sized firms lack the collateral or scale to secure large credit lines, while equity markets remain underdeveloped compared to regional peers. At the 2025 forum, business leaders highlighted the need for stronger financial support, including targeted credit facilities, export financing schemes, and private equity partnerships.

Government programmes have started to emerge, offering subsidised interest rates for companies pursuing international projects. Development banks are also exploring co-financing mechanisms. Private equity and venture capital interest in Vietnam has grown, with investors increasingly willing to support companies with credible globalisation strategies. For Vietnamese firms, the challenge is to demonstrate both operational readiness and scalable business models.

M&A represents a powerful avenue for going global. Instead of building greenfield operations abroad, Vietnamese firms can acquire stakes in foreign companies, securing immediate market access and distribution channels. While only a few have pursued this approach so far, it is likely to grow as capital markets mature and management expertise expands.

Human Capital and Workforce Readiness

Globalisation requires more than capital and policy; it depends on human capital. Vietnamese enterprises consistently highlight shortages in skilled management, international marketing expertise, and advanced technical capacity. To compete abroad, firms need employees who understand global markets, cultural differences, and regulatory environments.

In 2025, several universities and private companies launched programmes aimed at bridging this gap. Partnerships with foreign institutions are bringing in expertise in engineering, business administration, and digital design. Vocational training initiatives are focusing on languages, logistics, and digital skills. These steps are critical for building a workforce that can execute international strategies. Without them, Vietnam risks having ambitious companies but insufficient talent to deliver on global commitments.

At the same time, the diaspora represents an underutilised resource. Overseas Vietnamese communities, particularly in North America, Europe, and Australia, can provide both market knowledge and networks. Companies that learn to integrate diaspora talent into their global expansion strategies will have an advantage over those that rely solely on domestic resources.

Sectoral Opportunities for Globalisation

While the roadmap applies broadly, some sectors are better positioned than others. Wood and furniture, steel and engineering, and consumer goods were highlighted at the forum as prime candidates for international expansion. In each case, the scale already exists, but the missing pieces are branding, technology, and capital.

Technology and digital services also represent a frontier. Vietnamese technology firms are already active in Southeast Asia, particularly in gaming, fintech, and enterprise software. Expanding further into regional markets is a logical next step, supported by Vietnam’s strong digital talent base. Education, too, offers potential, with Vietnamese companies exploring international partnerships in vocational training and higher education.

Healthcare and pharmaceuticals are emerging areas. Domestic hospital chains and pharmaceutical companies are considering regional expansion, either through partnerships or acquisitions. These moves reflect the growing confidence of Vietnamese private firms and their recognition that long-term growth requires international diversification.

Strategic Takeaways for Investors

For investors, the roadmap to globalisation presents both opportunity and complexity. The opportunity lies in Vietnam’s scale, ambition, and strong fundamentals. Companies that succeed in going global will create substantial value, both for themselves and their partners. The complexity arises from execution risks. Firms must overcome branding deficits, policy bottlenecks, and human capital shortages.

Investors can play a catalytic role. By providing not just capital but also expertise, networks, and governance, they can help Vietnamese firms accelerate their globalisation journey. Strategic partnerships, joint ventures, and cross-border M&A will be central tools. The investors who succeed will be those who align their support with long-term strategies rather than short-term financial returns.

The forum confirmed that Vietnam’s private sector is no longer content with being a low-cost supplier. Its leaders are seeking visibility, brand recognition, and global competitiveness. For investors, this shift represents both a challenge and an opportunity. The challenge is to navigate the complexity; the opportunity is to participate in the creation of the next generation of regional champions.

Conclusion

Vietnam’s private sector in 2025 stands at the threshold of globalisation. Its roadmap includes branding, policy reform, capital access, human capital development, and sectoral focus. Progress has been made, but much remains to be done. The coming years will test whether Vietnamese enterprises can translate ambition into sustained global presence. For investors, the message is clear: the opportunity is significant, but success requires alignment with Vietnam’s evolving capabilities and strategies. Going global is not just an aspiration; it is becoming a defining feature of Vietnam’s economic future.