This shows that the path to the global market for Vietnamese businesses requires proactiveness, flexibility, and the support and creation of mechanisms by the State to provide a solid foundation for Vietnamese brands.
Rapid progress
Few people know that before being valued at nearly 5 trillion VND in the deal with Kokuyo Group (Japan), Thien Long Group had a very difficult beginning. Mr. Co Gia Tho, the founder of Thien Long, once shared that he started his business from a small production facility to support his family of 13, with only two gold coins and an old bicycle to deliver goods. In the early stages, the business faced immense pressure regarding capital and fierce competition from imported pens. The turning point only came when the company became a manufacturing partner for major Japanese and American brands. Thanks to the strict quality requirements from foreign partners, Thien Long learned, upgraded, and established its position. In the context of increasingly fierce competition as many foreign brands entered the market, Thien Long has risen, not only becoming the leading Vietnamese enterprise in writing instruments and stationery, but also having a presence in more than 70 countries and territories. Currently, the export segment contributes 20% of the company's revenue.
Unlike Thien Long, Viettel's path to "going global" was through overseas investment. In 2006, when Viettel had only been operating mobile services for two years, the telecommunications revolution in Vietnam was in its early stages, and the idea of going abroad was truly bold and risky. But to grow strong, one must constantly change and adapt. True to the spirit of courageous warriors, there is only forward progress, never retreat; wherever there is an opportunity, Viettel is there. The greater the difficulty, the greater the opportunity... It was this tenacity, commitment, and strategic vision that propelled Viettel's rapid expansion into the international market.
Ms. Nguyen Thi Hoa, General Director of Viettel Global, stated that Viettel Global currently operates in 10 countries across 3 continents, serving over 140 million customers; holding the number one position in mobile market share in 7 markets. The company has achieved an average revenue growth rate of 20% per year for the past 10 years, 4-5 times higher than the global telecommunications industry average (according to Gartner). Viettel Global is also a pioneer in expanding into digital services, digital finance, and digital transformation in international markets, notably in the e-wallet sector with a 57% growth projected for 2024. Over the next five years, Viettel Global aims to maintain double-digit growth, open at least one new market, and accelerate investment in AI, Cloud, IoT, and cybersecurity – key technology areas in Viettel Group's "Go Global" development strategy.
In the agricultural sector, if the fresh milk revolution marked the beginning of a transformation, then the dream of bringing Vietnamese milk to the world is a testament to the grand, enduring vision, national spirit, and global aspirations of Labor Hero Thai Huong. Amidst the snow-covered Kaluga region of Russia, the TH Group operates projects in dairy farming, milk processing, and the cultivation of fruits, vegetables, medicinal herbs, and food. Thousands of high-yield dairy cows imported from the United States, vast fields that had been barren for decades, are now green and fertile, and a leading large-capacity milk processing plant in Russia has been inaugurated, affirming the presence of the TH true MILK brand in the Russian Federation.
Ms. Thai Huong once shared: “I went to Russia during a time when the country was experiencing a milk shortage and dairy products were only imported from European markets. Some Russian television stations asked me why I chose to go to Russia at such a time. I said there were two reasons. Firstly, to show gratitude to Russia – a country that had spared no effort in helping Vietnam during the war. Secondly, I went to Russia because it was a golden opportunity in business, a chance to help Russia rise in agriculture …” By 2025, TH Group had expanded its investment and exported products to many international markets such as Russia, China, Cambodia, the Philippines, and Australia… with the goal of bringing the brand to an international level and shaping healthy consumer trends.
We need strong policies.
After 40 years of reform, Vietnamese businesses have achieved many remarkable successes. Several Vietnamese enterprises have emerged with transnational operations, capable of participating in global value chains. Besides the aforementioned brands, other notable examples include FPT Group, present in 30 countries and providing digital transformation services to major corporations in the US, Japan, and Europe; VinFast, which has established factories in the US, Indonesia, and India; and Vinamilk, which has introduced its closed-loop farm model to Russia, Laos, and Cambodia. According to the National Statistics Office, between 2019 and 2024, approximately 150 new overseas investment projects by Vietnamese businesses were launched each year, with total registered capital ranging from US$600 million to US$1 billion.
Although the trend has clearly emerged, the journey of Vietnamese businesses to the global market still lacks a solid foundation and faces many limitations. Specifically, the brand recognition of Vietnamese businesses in the international market remains limited, concentrated in certain sectors, with some businesses having only regional or partial global recognition. Export credit and overseas investment support are low, mainly concentrated in state-owned enterprises. The logistics system serving exports is still underdeveloped compared to "exporting powerhouses," reducing competitiveness. Policies supporting businesses in developing science, technology, innovation, and human resources are not yet effective... These "bottlenecks" prevent Vietnamese businesses from fully utilizing their potential and internal strengths on their journey to the global market.
In implementing Resolution No. 68-NQ/TW dated May 4, 2025, of the Politburo on the development of the private economy, the Prime Minister assigned the Ministry of Industry and Trade to develop the "Go Global - Conquering the International Market" program. The program identifies the core principle as a crucial force leading the integration and internationalization of the private sector; proactively enhancing competitiveness, participating in, creating, and providing products and services for the international market, and integrating more deeply into the global value chain. The program also aims for a significant shift, creating a new image for the economy: a shift from processing, assembling, and exporting to becoming an exporting nation based on "make in Vietnam" products.
Besides the government's role in institution building, according to the Ministry of Industry and Trade, it is necessary to form and develop a team of entrepreneurs who are courageous, intelligent, technologically savvy, have a global mindset, the ability to adapt quickly, and a deep understanding of the culture, law, and needs of the international market. Vietnamese businesses must be extremely proactive and creative, turning "Go Global" into a consciousness and a culture.
In the context of limited domestic resources and markets, the only path to strong growth is to venture into the global market to seek broader opportunities. To facilitate this shift in mindset, the "Go Global - Conquering International Markets" program identifies the improvement of the business environment and the development of markets and resources compatible with highly competitive economies as prerequisites. This facilitates the private sector's full and convenient access to credit, land, infrastructure, and science and technology at reasonable costs.
Source: https://hanoimoi.vn/hanh-trinh-ra-bien-lon-733898.html
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