2025 has come to an end, opening up new expectations for 2026 amidst a continuously transforming economy with intertwined opportunities and challenges.
In an interview with Dan Tri newspaper on the occasion of the Lunar New Year 2026 (Year of the Horse), business leaders and experts believe that growth prospects remain strong thanks to a stable macroeconomic foundation and consistently maintained support policies. However, increased competitive pressure, international market fluctuations, and the need for digital transformation and improved management capabilities will present significant challenges this year.
TPBank CEO: 2026 is a race for "fast banking" but risk discipline must still be maintained.
Mr. Nguyen Hung, General Director of TPBank, stated that entering 2026, in the context of expected higher economic growth, he believes that the prospects of the banking sector will continue to be shaped within a stable, consistent, and supportive policy framework, in line with the Party and State's direction on promoting economic growth, macroeconomic stability, and enhancing national competitiveness. This is an important foundation for the banking system to accompany businesses and people in the next phase of recovery and development.
However, along with opportunities come increasing competitive pressure, requiring banks not only to provide capital but also to act as comprehensive financial partners, supporting businesses and individuals in accessing more appropriate, effective, and sustainable financial solutions. In this context, credit growth is expected to continue in a cautious, selective manner, linked to risk control and asset quality.
Another clear trend is the shift in business models, as banks gradually reduce their reliance on traditional credit growth while simultaneously developing service segments, digital banking, payments, asset management, and technology-based financial solutions. This not only helps diversify revenue streams but also enhances their ability to serve the economy more flexibly and effectively.
Simultaneously, digitalization and data applications will continue to deepen, becoming the foundation for risk management, real-time decision-making, and enhanced customer experience. In an increasingly competitive market, banks that operate more efficiently, make faster decisions, and are more closely aligned with the real needs of their customers will have a significant advantage for sustainable growth in 2026 and beyond.
Mr. Nguyen Hung, General Director of TPBank (Photo: Manh Quan).
The Year of the Horse evokes the image of mighty warhorses with extraordinary speed. In the context of today's volatile economy, Mr. Hung defines "speed banking" as a concept that needs careful consideration.
According to him, this is not simply about working quickly, but about an organization capable of making the right decisions, in a timely manner, and as close to the customer as possible. Sustainable speed must be built on lean processes, transparent data, and clear accountability, not by rushing everything at all costs.
When unnecessary intermediaries are eliminated and technology is properly positioned to support operations, organizations will function more smoothly, flexibly, and responsively to the market. However, at TPBank, speed always goes hand in hand with strict governance discipline and risk control, ensuring that every decision made is safe for both customers and the bank.
"We focus on building control layers based on data, technology, and clear standards, to both accelerate service delivery and minimize risks in operations and product provision. In this way, true efficiency becomes the wings that help the bank soar, while maintaining stability and resilience in the face of market fluctuations," Mr. Hung said.
2025 lays the foundation for a shift in mindset, 2026 prioritizes strengthening the quality of growth.
Economist Dr. Tran Dinh Thien believes that 2025 is a special year, as it almost fully embodies the elements of a development phase, from difficulties and challenges to internal strength, determination, and efforts to turn the situation around. According to him, evaluating 2025 cannot be done from a single perspective, but must be considered within the overall context of what the economy has already experienced.
According to Dr. Tran Dinh Thien, the most notable aspect of the past year was the shift in thinking and approach to development. "If we identify the right direction at the right time, 2025 will lay the foundation for a significant turnaround, creating new momentum for the economy," he said.
He argued that this confidence and enthusiasm didn't come from mere numbers, but stemmed from a shift in perception regarding the development model.
"For the first time, we are clearly affirming that the private sector is the most important driving force, the essential pillar of the growth model," the expert emphasized. According to him, this is a landmark change, creating a basis for reallocating resources and designing market-oriented policies.
The view of Ho Chi Minh City at night (Photo: Hoang Giam).
In addition, Dr. Tran Dinh Thien believes that the approach to the relationship between the State and businesses has also changed significantly. "Instead of a dependent, passive mindset, we have shifted to a co-creation mindset for development," he analyzed. According to him, when the State plays the role of institutional creator and businesses play an active role, the market will operate more flexibly and efficiently.
Looking ahead to 2026, he believes the growth momentum will shift to a consolidation phase. "Besides the private sector and infrastructure investment, domestic consumption and technological innovation will be even more important pillars in the context of ongoing external uncertainties," he said.
However, he emphasized that the focus for 2026 should not be solely on growth rate, but on maintaining macroeconomic stability and improving the quality of growth. According to him, the important thing is not to pursue growth at all costs, but to ensure a foundation for sustainable development and strengthen market confidence in the medium and long term.
Gas demand is booming, attracting investment and promoting green transformation.
Mr. Do Pham Hong Minh, Director of Vietnam Petroleum Low Pressure Gas Distribution Joint Stock Company, said that based on the State's orientation, especially the goal of high growth and accelerated infrastructure investment, the demand for energy and construction materials will continue to increase. This will create favorable conditions for the gas industry in particular and the energy sector in general to continue to thrive in the coming time.
According to him, customer demand for gas is increasingly improving, thanks to increased consumption. Mr. Minh cited three main reasons for this. Firstly, the investment environment has improved, attracting new investors. Secondly, businesses are switching to greener and cleaner fuels. Thirdly, existing customers are increasing production, reflecting favorable business conditions.
Industries that primarily use natural gas include steel, building materials, and chemicals. Foreign investment, particularly from China and South Korea, is increasing. In the long term, although the direct cost of natural gas may be higher than coal at certain times, considering all environmental and social costs, natural gas remains a more cost-effective option.
In the new context, the company places special emphasis on ensuring the safety of the gas pipeline system, based on three pillars: public awareness, patrol and control, and prevention. Accordingly, the company closely cooperates with local authorities, the police, and the industrial park management board to disseminate safety information to the community and neighboring businesses. At the same time, the company builds a network of collaborators to help detect early any actions that may compromise pipeline safety.
In addition, the company conducts regular and unscheduled patrols in coordination with relevant authorities. Annually, the company organizes internal safety workshops and gas safety workshops for customers to review operating procedures and coordinate the handling of emerging situations.
GDP 10%: Big ambition and the challenge of four growth drivers.
After recording an impressive 8% growth rate in 2025, the government has set a GDP growth target of 10% this year. According to experts, Vietnam is emerging as a "rising star of Asia" and is poised to become the "next Asian tiger". However, a 10% GDP growth target is considered ambitious.
According to Chau Dinh Linh, a financial and economic expert, looking at the formula for calculating GDP (commonly used globally), several factors influence it, including consumption, investment, government spending, and import-export turnover.
Cargo trucks at a Vietnamese border crossing (Photo: Phuoc Tuan).
Therefore, for GDP to grow by 10%, at least each of the above factors must grow by at least 10%. Regarding consumption, experts say that domestic consumption is currently recovering well. The government also has many policies to boost consumption. For example, the national concentrated promotional program - Vietnam Grand Sale 2025 - is considered a significant "boost" that helped businesses clear inventory and improve cash flow at the end of last year.
Secondly, investment includes investment in factories, industrial parks, and the financial market. Experts highly appreciate the implementation of a series of new policies in recent times, and expect that Vietnam will continue to be a destination for international investment capital as a result.
Thirdly, government spending is one of the two main pillars driving GDP growth this year. According to Mr. Linh, the government has actually been increasing spending on infrastructure and government operations. More importantly, the efficiency of spending must be considered, and the expert emphasized that Vietnam is currently not doing this effectively.
Resolution 79, recently issued, frankly acknowledges the inefficient use of national resources. In the coming period, both state-owned and private enterprises bear the responsibility of transparency, efficient operation, and expansion into the global market.
Finally, imports and exports are the second most important "pillar" for this year's GDP growth ambitions. Experts expect US import demand to remain positive in 2026, thanks to strong spending by the middle and upper classes, especially the "baby boom" generation, along with large fiscal and monetary stimulus packages ahead of the midterm elections.
The year 2025 marks a significant milestone for Vietnam's import and export activities, with total trade reaching approximately US$930 billion, an increase of 18.2% compared to 2024, equivalent to an absolute increase of US$143 billion. Exports are expected to maintain a growth rate of 17%, significantly higher than many economies in the region, far exceeding the assigned target and second only to the highest growth rate in the 2021-2025 period.
Entering this year, Vietnam's total export turnover is expected to increase by over 8% compared to 2025. At the same time, the trade balance is expected to continue to have a surplus of over $23 billion, an increase of approximately 15% compared to the previous year.
Source: https://dantri.com.vn/kinh-doanh/ky-vong-nam-moi-cua-lanh-dao-doanh-nghiep-chuyen-gia-kinh-te-viet-20260216134238756.htm
Comment (0)