This afternoon (September 15th), as part of the Vietnam Private Economic Forum 2025, a specialized dialogue session titled “Sharpening Strategic Edges – Reaching Global Heights” took place.
The forum was organized by the Vietnam Young Entrepreneurs Association in collaboration with the Vietnam Association of Small and Medium Enterprises, under the guidance of the Central Committee of the Ho Chi Minh Communist Youth Union and the Central Committee of the Vietnam Youth Federation.
The Spirit of “Co-Creation”
Opening the session, Mr. Mai Hữu Tín, Chairman of the Vietnam Young Entrepreneurs Association (IVth term), Chairman of the Board and CEO of U&I Group, emphasized that in the context of deep and robust international integration, “sharpening strategic edges” to achieve global reach is a mission of strategic importance for the Vietnamese business community.
The dialogue session “Sharpening Strategic Edges – Reaching Global Heights.” Photo: Trọng Quân
Participating businesses, all leaders in their respective sectors, shared their success stories and inspired others to follow suit, collectively strengthening the Vietnamese brand.
Dr. Lê Duy Bình, Director of Economica Vietnam, stressed the need for private enterprises to pioneer changes in export models as part of the “go global” strategy.
Exports have long been a driver of economic growth, contributing 19% to GDP in 2024 with a trade volume of $404.9 billion, employing 12.5 million workers. This activity also enhances the nation’s brand value, placing Vietnam 32nd globally.
However, exports still rely heavily on scale expansion, with low added value, limited localization, and significant dependence on imported raw materials. Foreign-invested enterprises accounted for 71.7% of export turnover in 2024, while domestic firms remain less competitive. Vietnam also faces numerous trade barriers and stringent international standards.
Dr. Lê Duy Bình, Director of Economica Vietnam. Photo: Trọng Quân
According to Dr. Lê Duy Bình, for exports to become a sustainable driver, Vietnamese businesses must shift their mindset, focusing on value and brand building rather than relying solely on low costs. “We must prioritize value over volume and brand over cost advantages. Only then can exports truly become a sustainable growth engine, contributing to national prestige and deeper international integration,” he emphasized.
To enhance Vietnamese enterprises’ capacity in the global supply chain, Mr. Đỗ Trí Tuấn, Deputy CEO of Dai Dung Corporation, proposed the spirit of “co-creation” – a close collaboration among the government, private sector, and international community to build a sustainable ecosystem for the steel structure and mechanical engineering industry.
Vietnam’s steel structure and mechanical engineering sector has achieved significant milestones, supporting domestic infrastructure projects and exporting to over 60 countries. However, when competing internationally, the industry faces bottlenecks that limit its ability to deeply integrate into global supply chains, particularly in infrastructure, energy, and construction.
Vietnamese companies primarily act as subcontractors, unable to ascend to main contractor roles in large projects due to limited technological capabilities, lack of international certifications, high logistics costs, reliance on imported materials, and absence of a national brand.
Mr. Tuấn’s “co-creation” solutions focus on four key areas. First, develop a steel structure industry strategy by 2050, accompanied by green credit policies, tax incentives, and mechanisms allowing domestic firms to directly participate in key projects, rather than relying solely on foreign contractors. Establish a National Advisory Council for Mechanical Engineering and Steel Structures to shape policies collaboratively.
Simultaneously, businesses should form alliances to share capabilities, jointly bid for international projects, and deepen partnerships with global leading contractors. Invest in specialized ports, logistics hubs, and green logistics pilot projects to reduce costs. Finally, accelerate R&D in green steel, coating technologies, and new materials to boost productivity and competitiveness.
Vietnamese Businesses Are Capable, and Industry Leaders Commit to Leading the Way
Mr. Nguyễn Chánh Phương, Vice Chairman of AA Corporation, shared that his company now operates in 40 countries. The biggest lesson from nearly 30 years of global expansion is: “The world is not as daunting as we think. Vietnamese businesses are capable of meeting the strictest requirements.” From their first international project in 1996, where they merely “tagged along” with foreign partners, the company now owns that very partner along with 10 subsidiaries across four countries.
According to Mr. Phương, Vietnamese wood products are present in 170 markets, with projected exports of $20 billion in 2025, over 60% of which are high-end processed goods and furniture. However, foreign-invested enterprises still account for nearly 50% of export turnover, indicating significant challenges ahead.
Leaders of participating businesses at the dialogue session.
Mr. Phương also proposed several recommendations for the Vietnamese wood industry to reach further. He suggested the government provide additional support for national trade promotion fairs, enabling businesses to more effectively promote their brands. Trade offices and embassies should serve as practical bridges, accompanying businesses in providing information and resolving challenges.
Ms. Trần Phương Nga, CEO of Thien Long Group, aspires to make “Vietnam Stationery” a new symbol, transforming the $1 billion domestic market into an international hub for green stationery production and export in Southeast Asia, spreading the spirit of Vietnamese learning and knowledge globally.
According to Ms. Nga, Vietnam’s stationery industry has a unique advantage tied to the needs of 25 million students and its cultural-educational significance. However, cheap imports from China and high-end products from Japan, South Korea, and Germany pose significant competitive pressures.
With co-creation among the government, businesses, and the community, the industry can evolve from a supporting sector into a cultural-educational spearhead, enhancing national prestige. Thien Long is committed to pioneering R&D, green production, expanding international supply chains, and connecting industry players to build a unified brand.
Drawing from business proposals, Deputy Minister of Industry and Trade Nguyễn Hoàng Long emphasized that the forum’s greatest value lies in its direct exchanges, particularly from young entrepreneurs, making discussions practical and vivid.
“The government and the Ministry of Industry and Trade are actively addressing challenges, formulating new policies centered around businesses as the core drivers of development. Capable domestic enterprises will receive maximum support,” Mr. Long affirmed.
Regarding international cooperation, Vietnam has a network of trade offices and promotion centers abroad. The Ministry of Industry and Trade is ready to collaborate with businesses, especially SMEs, to strengthen connections and expand markets. Mr. Long also proposed that the Vietnam Young Entrepreneurs Association explore direct cooperation mechanisms with the Ministry through memorandums of understanding for more consistent and effective collaboration.
T&T Group Vice Chairman Presents Key Recommendations at VPFS 2025
On the afternoon of September 16th, during the High-Level Dialogue Session of the Vietnam Private Sector Economic Forum 2025 (VPFS 2025), Mr. Do Vinh Quang, Vice Chairman of the Board of Directors of T&T Group and Chairman of the Board of Directors of Vietravel Airlines, presented several critical recommendations aimed at harnessing the inherent strengths of businesses.
Prime Minister Praises 5,000 Billion VND Cable-Stayed Bridge, Entirely Built by Vietnamese: Bigger, Better, Yet Half the Investment Cost – Who’s Behind It?
The My Thuan 2 Bridge project spans a total length of 6.61 km. With a total investment of 5.003 trillion VND, the project is funded entirely by the state budget.
Unveiling Vietnam’s $9 Billion Pharmaceutical Paradox: Insights from a Female CEO
Bui Cam Van, CEO of Buymed, highlights a striking paradox in Vietnam’s pharmaceutical market: despite its impressive $9 billion valuation, second only to one other in Southeast Asia, it lacks a dominant “national champion” capable of leading the industry forward.
