Vietnam Private Sector Globalisation: Roadmap Beyond 2025

By September 2025, Vietnam’s private sector is talking about its global ambitions more loudly than ever. At the Vietnam Private Sector Forum, business leaders laid out clear roadmaps for expanding overseas — from branding to policy reform, each proposal showed off real progress while exposing the bottlenecks that still nag. The question for Vietnam isn’t whether its companies can compete globally. It’s how fast they can turn ambition into a durable presence abroad.

The macro backdrop is on their side. GDP growth held above six percent in 2025, exports rose more than 15 percent, and foreign direct investment climbed nearly nine percent year on year. Inflation stayed manageable, which gives long-term planning something to stand on. These numbers give Vietnamese firms the confidence to chase global markets, and they make investors view the country as a reliable partner in regional supply chains.

Geography helps too. Sitting close to Asia’s major economies, plugged into trade pacts like the CPTPP and RCEP, and backed by a solid manufacturing base, Vietnam holds an edge few of its peers can match. For private enterprises, that means real openings to set up production abroad, win new export markets, and play a deeper role in global value chains. The foundations for internationalisation are already here. But moving from local champion to global competitor takes deliberate strategy, not momentum.

National branding as a strategic priority, not a slogan

Branding came up again and again at the 2025 forum. Leaders from furniture, agriculture and consumer goods all complained that Vietnam lacks a consistent global image. Products reach international markets, but often under foreign labels, so the brand equity they capture is thin. Without national branding, Vietnamese firms keep competing on price rather than being recognised for quality and innovation.

Business leaders proposed a coordinated national branding campaign: government backing for global trade fairs, export promotion, and communication that positions Vietnam as a credible global supplier. For the wood and furniture industry, that means presenting the country as a design-led hub, not merely a low-cost producer. For consumer goods, it means building recognition that Vietnamese brands can compete on quality with regional peers. Read this way, branding is a way to hold onto value at every stage of the supply chain.

Progress in 2025 has been modest but visible. Several domestic firms launched international campaigns, especially in food and beverage, and others tried digital-first branding. But these stay isolated efforts. To reach scale, Vietnam has to treat branding as a collective mission, not an individual choice. The road to going global starts with being seen.

Institutional reform: stability at home is the launchpad abroad

Policy reform was the second big theme. Entrepreneurs stressed that global competitiveness needs a supportive domestic environment. Tangled administrative procedures, slow VAT refunds and uneven provincial enforcement remain obstacles. These bottlenecks raise costs and slow firms down when international demand spikes.

At the forum, executives proposed simplifying fire-safety and licensing procedures, shortening VAT refund timelines, and streamlining customs. They also pushed for more consistent application of rules across provinces. Policymakers responded well, conceding that procedural efficiency now matters as much as tax breaks or subsidies. For firms aiming abroad, predictable rules at home are the foundation for taking risks outside.

Some reforms have started. Fast-track pilots in Binh Duong and Dong Nai are showing early results, cutting approval times for exporters. Scaling them nationwide is still hard, but the direction is encouraging. Investors will watch closely to see whether Vietnam can keep this momentum and bring its domestic systems in line with international expectations.

Capital and the cross-border M&A route

International expansion needs capital, and Vietnamese firms often hit limits right here. Many small and medium-sized companies lack the collateral or scale to secure large credit lines, while equity markets stay underdeveloped compared with regional peers. At the 2025 forum, leaders flagged the need for stronger financial support: targeted credit facilities, export financing schemes, and private equity partnerships.

Government programmes have begun to appear, offering subsidised interest rates for companies pursuing international projects. Development banks are exploring co-financing too. Private equity and venture capital interest in Vietnam has grown, with investors more willing to back firms that carry credible globalisation strategies. The job for Vietnamese companies is to prove both operational readiness and a business model that scales.

M&A is a powerful way to go global. Rather than build greenfield operations abroad, Vietnamese firms can acquire stakes in foreign companies and secure immediate market access and distribution. Only a few have gone this route so far, but it will likely grow as capital markets mature and management depth improves.

Human capital: the constraint and the diaspora card

Globalisation needs more than capital and policy; it rests on people. Vietnamese firms consistently point to shortages of skilled management, international marketing expertise and advanced technical capacity. To compete abroad, companies need staff who understand global markets, cultural differences and the regulatory environment in each place.

In 2025, several universities and private companies launched programmes to close this gap. Partnerships with foreign institutions are bringing in expertise in engineering, business administration and digital design. Vocational training is focusing on languages and the logistics and digital skills exporters keep asking for. These steps are critical for building a workforce that can actually execute international strategies. Without them, Vietnam risks having ambitious companies but too little talent to deliver.

At the same time, the diaspora is an underused resource. Overseas Vietnamese communities in North America, Europe and Australia hold both market knowledge and networks. Firms that learn to pull diaspora talent into their expansion will hold an edge over those relying on domestic resources alone.

Which sectors are readiest to travel

The roadmap applies broadly, but some sectors start from a better position. Wood and furniture, steel and engineering, and consumer goods were named at the forum as prime candidates for international expansion. In each, the scale is already there; what’s missing is branding and technology, plus the capital to fund both.

Technology and digital services are another frontier. Vietnamese tech firms are already active across Southeast Asia, strongest in gaming and fintech, with enterprise software close behind. Pushing further into regional markets is a logical next step, backed by a strong digital talent base. Education holds potential too, 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 weighing regional expansion through partnerships or acquisitions. These moves reflect the growing confidence of Vietnam’s private firms and their recognition that long-term growth requires international diversification.

What investors should read into it

For investors, the globalisation roadmap is both opportunity and complexity. The opportunity lies in Vietnam’s scale and ambition, set on strong fundamentals; firms that succeed abroad will create substantial value, for themselves and their partners. The complexity comes from execution risk: companies have to overcome branding deficits, policy bottlenecks and human capital shortages.

Investors can play a catalytic role. By bringing expertise and networks alongside capital, plus a steadier hand on governance, they help Vietnamese firms accelerate the globalisation journey. Strategic partnerships, joint ventures and cross-border M&A will be the central tools. The winners will be those who align their support with long-term strategy rather than short-term returns.

The forum confirmed one thing: Vietnam’s private sector is no longer content to be a low-cost supplier. Its leaders want visibility, brand recognition and global competitiveness. For investors, that shift is both a challenge and an opening. The challenge is to navigate the complexity; the opening is to help build the next generation of regional champions.

Conclusion

Going into 2025, Vietnam’s private sector stands at the threshold of globalisation. Its roadmap covers branding, policy reform, capital access, human capital development and sectoral focus. Progress has been made, but plenty remains. The coming years will test whether Vietnamese firms can turn ambition into a sustained global presence.

For investors, the message is clear: the opportunity is large, but success demands alignment with Vietnam’s evolving capabilities and strategies. Going global is no longer just an aspiration; it’s becoming a defining feature of the country’s economic future.

Lotus Investment Group advises on cross-border M&A and FDI into Vietnam and Southeast Asia. If you are underwriting Vietnam exposure, get in touch.