New impetus for the private economy when reaching out to the world

On the morning of October 29, within the framework of the first Autumn Fair - 2025, the Ministry of Industry and Trade organized a Trade Promotion Conference with the Vietnamese trade office system abroad in October.

The conference was held at the Vietnam Exhibition Center (VEC), Dong Anh, Hanoi, directly combined online with Vietnamese trade offices abroad. Attending the event were Deputy Minister of Industry and Trade Nguyen Sinh Nhat Tan, Mr. Vu Ba Phu - Director of the Trade Promotion Agency - Ministry of Industry and Trade, Ms. Mai Thu Hien - Deputy Director of the Department of Planning, Finance and Enterprise Management - Ministry of Industry and Trade, along with representatives of associations, enterprises, localities, representatives of leaders of departments and divisions under the Ministry and representatives of Vietnamese trade counselors abroad.

Trade Promotion Conference with the Vietnamese Trade Office System Abroad in October 2025 with the theme: "Promoting the Vietnamese private economic sector to expand its international presence, deeply integrate into the global value chain and enhance the value of Vietnamese national brands, enterprises, goods and services through the Program 'Reaching out to the international market in the period 2026 - 2035' - GoGlobal".

Conference scene.

In order to concretize Resolution 68-NQ/TW on private economic development, the Ministry of Industry and Trade is presiding over the development of the "Go Global" Program - Reaching out to the international market for the period 2026-2035, aiming to create a launching pad for Vietnamese enterprises to firmly integrate and affirm their position in the global market.

Speaking at the conference to introduce the draft, Ms. Mai Thi Thu Hien, Deputy Director of the Department of Planning, Finance and Enterprise Management (Ministry of Industry and Trade) said that the "Go Global" program is identified as a strategic task, within the framework of implementing the Prime Minister 's direction on developing the private economic sector to become an important driving force of the economy.

According to Ms. Mai Thi Thu Hien, the concept of “Go Global” has long been applied by developed countries such as the US, Japan, South Korea and European countries, representing a comprehensive strategy to promote the fields of export, investment, technology, culture, education and economic diplomacy to develop together in the international market.

In Vietnam, the “Go Global” process actually began during the renovation period, associated with the international economic integration process and important milestones such as joining ASEAN (1995), signing the Vietnam-US Bilateral Trade Agreement (2000), becoming a member of the WTO (2007) and recently new generation FTAs ​​such as CPTPP and EVFTA.

The conference was connected online with Vietnamese trade offices abroad.

After nearly 40 years of innovation, Vietnam has risen to the top 20 exporting countries in the world, is one of the 10 most open economies, and has formed a dynamic private economic sector with approximately 1 million enterprises, contributing about 30% of total export turnover.

“Through the integration process, we have learned many international experiences, improved the competitiveness of businesses and industries, improved workers' income and perfected the socialist-oriented market economic institution,” Ms. Hien emphasized.

However, in addition to the achievements, Vietnam's process of reaching out to the international market still reveals many limitations. Specifically, Vietnam's exports are still mainly led by the FDI sector, while domestic private enterprises only participate in stages with low added value. Overseas investment activities are still slow and small-scale; although Vietnamese brands in the international market have improved, they are only concentrated in a few industries and businesses. Logistics infrastructure, export credit, and innovation support policies have not yet met the requirements. "These factors make Vietnam's global expansion process unsustainable and have not yet fully exploited the available internal strength of the private sector," Ms. Hien analyzed.

Faced with that reality, the Ministry of Industry and Trade was assigned by the Government to develop the “Go Global Program”, expected to be submitted to the Prime Minister for approval in 2025. The program aims to innovate global integration thinking, expand growth space, strengthen Vietnam’s presence abroad and enhance the leading role of the private economy.

According to the draft, “Go Global” identifies two prominent orientations: Innovating integration thinking – shifting from “participation” to “proactive creation” in global value chains, combining trade, investment, technology and culture; Identifying the private economy as a pioneering force – leading the internationalization process, developing Vietnamese brands at regional and world level.

In addition, the program also aims to form Vietnamese multinational enterprises with regional and global competitiveness, contributing to the shift from processing and assembly to true "Made in Vietnam".

Specific goals by 2030 include: Increasing the share of private sector exports to 50-60% of the total national export turnover. Forming 20 large enterprises leading the global value chain and 30 pioneering medium-sized enterprises in niche markets. Increasing investment abroad, expanding the presence of Vietnamese enterprises in key economic centers of the world.

To implement the program, the Ministry of Industry and Trade will build a foundation of awareness and integration capacity through training, consulting and providing in-depth information to businesses on investment strategies, international governance and foreign legal standards. Next, the program will pilot an overseas investment model, prioritizing merger and acquisition (M&A) projects to help Vietnamese businesses access raw materials, international supply chains and consumer markets.

In particular, “Go Global” also focuses on promoting online exports through cross-border e-commerce platforms, helping Vietnamese businesses, especially small and medium-sized enterprises, participate effectively in the global market at lower costs.

“We want to create Vietnamese businesses that truly ‘go global’ with their own products, intelligence and brands, not just manufacturing for others,” Ms. Hien emphasized.

The conference is one of the highlights in the series of events of the first Autumn Fair - 2025 (Vietnam Golden Autumn Fair - VGAF 2025), taking place continuously from October 25 to November 4, 2025 at the Vietnam Exhibition Center (VEC). Through the conference, the Ministry of Industry and Trade affirmed its determination to accompany the Vietnamese business community on the new integration journey - a journey not only exporting goods, but also exporting values, knowledge, brands and Vietnamese business culture to the world. At the same time, through the conference, we will listen to proposals and recommendations from businesses, associations and localities to promote the strong development of the private economic sector, becoming the most important driving force of economic growth and a pioneering force in innovation, integration and global expansion.

Source: https://baotintuc.vn/kinh-te/dong-luc-moi-cho-kinh-te-tu-nhan-khi-vuon-ra-the-gioi-20251029145717704.htm