In the era of globalization and the formidable rise of artificial intelligence (AI), Vietnamese businesses are at a historical crossroads: either surge ahead through innovation or be left behind.
This message resonated clearly at InnoEx 2025, the International Forum and Exhibition on Innovation and Sustainable Development, which convened over 4,000 business leaders, investors, and experts from more than 60 countries, with over 30,000 attendees.
Beyond being a technology hub, InnoEx 2025 posed an existential question: Is innovation truly profitable, and how can it become a vital driver for Vietnamese businesses in the age of data and AI?
Innovation: From Slogan to Survival Strategy
The history of global business is replete with costly lessons for those who fail to innovate promptly. Kodak, the inventor of digital photography, fell victim to its own technology. Blockbuster, the video rental giant, crumbled within years of Netflix’s emergence.
According to Innosight’s research (2023), the average lifespan of a company in the S&P 500 index has plummeted from 61 years (1958) to 18 years, and it is predicted to fall below 15 years by 2030.
This scenario is also playing out in Vietnam. Many once-leading brands are struggling to keep up with the wave of technological transformation and shifting consumer behavior.
The McKinsey report (2024) indicates that businesses that comprehensively adopt AI can boost operational efficiency by up to 40% and reduce costs by approximately 30% within three years.
In the retail sector, Bizplanr (2024) found that 87% of global retailers have implemented AI in at least one function, and over 80% of leaders expect to complete automation by the end of 2025. These numbers are not mere predictions but have become a matter of survival.
Action Plan from InnoEx: Innovate to Profit
At the Business Innovation Forum, leaders from technology corporations and traditional businesses delved into a fundamental equation: innovation is not just about survival but also about generating tangible profits.
Sudeepto Roy from Qualcomm emphasized the power of Edge AI in instant data processing, enabling businesses to turn “real-time” into a competitive advantage. IL-Dong Kwon from BCG Vietnam asserted that data is not just the “new oil” but has become a strategic asset, on par with land and brands.
IL-Dong Kwon from BCG Vietnam highlighted that data has become a strategic asset, as valuable as land and brands.
In practice, leaders such as Le Tri Thong (PNJ), Le Hong Minh (VNG), Nguyen Hong Viet (SAP Vietnam), and Truong Ly Hoang Phi (IBP) underscored the importance of a “dual front”: defending traditional business foundations while expanding through technology. In this context, AI is not an extravagant tool but a pivotal competitive weapon.
Industry Innovation: From Golden Brands to Smart Operations
While the Business Innovation Forum focused on strategic positioning, the Innovation Sector Forums showcased the practical impact of innovation across various sectors. From retail and FMCG to logistics and energy, each industry was scrutinized through the lens of data and AI.
In the realm of retail and FMCG, Tran Phuong Nga, CEO of Thien Long Group, emphasized that brand legacy serves as a foundation, but to captivate the younger generation, businesses must innovate comprehensively, from products to distribution models.
Le Hong Minh, CEO of VNG, concluded that innovation must be linked to profits, and profits should be clearly defined in the business model. Only then can innovation be a driving force rather than a burden.
Tran Le Nguyen, CEO of KIDO, argued that market research and R&D data have become the “nervous system” for the FMCG industry to navigate and adapt flexibly. The dairy and nutrition sector also made its mark as Nutifood invested in consumer behavior data, aiming for personalized products based on nutritional habits.
In logistics, a sector with a scale of 45-50 billion USD and contributing nearly 5% to GDP, innovation is deemed vital. Le Duy Hiep, CEO of Transimex, asserted that the future of logistics lies not in expanding warehouses but in automation, green logistics, and data utilization. AI, IoT, and 5G have proven to reduce cargo losses by 90% and save over 15% in transportation costs.
In the energy sector, Pham Quoc Bao, Chairman of EVNHCMC, shared that through the smart SCADA/DMS operation system and big data analytics platform, EVNHCMC has reduced electricity losses to below 3.5%, one of the lowest rates in the region.
AI – Redefining Operations and Experiences
Stories from Base.vn, Nutifood, Taipy Singapore, Home Credit, and RYNAN Technology illustrate how AI is not just altering products but reshaping entire operations. From SaaS optimizing internal processes to AI personalizing financial services and smart agriculture, the common denominator is that data fuels innovation.
InnoEx – Catalyzing Innovation Ecosystems
Unlike many events that merely offer a platform for knowledge exchange, InnoEx 2025 fostered an ecosystem where large enterprises, startups, research institutes, investors, and regulatory bodies collectively embarked on an innovation journey.
Truong Ly Hoang Phi, Head of the InnoEx Organizing Committee, emphasized, “Innovation cannot be a solitary effort. We need an ecosystem where all businesses – from traditional corporations to tech startups – can resonate and collaborate.”
The presence of companies like PNJ, Thien Long, KIDO, Transimex, EVNHCMC, Base.vn, RYNAN Technology, and MISA testifies to the formation of an “innovation alliance” in Vietnam. These are not isolated stories but a collective action plan, where each enterprise’s progress propels the economy forward.
In the era of data and AI, where speed becomes the ultimate competitive advantage, InnoEx 2025 laid the foundation for an innovation alliance, empowering Vietnamese businesses to embark on a new growth trajectory.
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