As Việt Nam marks the 80th anniversary of its National Day, the country’s journey from poverty to prosperity is drawing wide recognition from both domestic and international partners. Business leaders told Việt Nam News’ reporters Vũ Hoa, Mai Hương, Thu Ngân and Ly Ly that the nation’s resilience, open policy, and commitment to innovation have laid the foundations for rapid economic growth and sustainable development.

Michele D'Ercole, Chairman of the Italian Chamber of Commerce in Việt Nam (ICHAM)

 

As Việt Nam marks 80 years since its National Day on September 2, 1945, the nation’s extraordinary journey from poverty to prosperity stands as a striking testament to vision, resilience and ambition.

Once one of the world’s poorest countries in the 1990s, Việt Nam has transformed into a middle-income nation, averaging 6–7 per cent GDP growth annually and reducing poverty from over 70 per cent to under 6 per cent today. Few economies worldwide have achieved such a dramatic shift in such a short time.

This transformation is visible across the country: agriculture’s once-dominant role has given way to manufacturing, services and technology, while Việt Nam has become a magnet for foreign investment.

The country has firmly established itself as a prime destination for foreign direct investment (FDI), thanks to investor-friendly policies, improved infrastructure and a growing skilled workforce.

Electronics, textiles, renewable energy and advanced manufacturing lead the way, with investors from South Korea, Japan, Singapore, China — and increasingly Italy — driving growth. Italy is proud to support Việt Nam not only through trade and technology but also through its energy transition under the Just Energy Transition Partnership (JETP).

Việt Nam’s integration into the global economy has been equally impressive. Membership of the World Trade Organisation (WTO), leadership within ASEAN, the Việt Nam-EU Free Trade Agreement, and participation in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) have turned the country into one of the most connected markets in Asia.

Exports now range from garments and seafood to electronics and innovation-driven products, with a steady trade surplus bolstering its economic resilience.

Yet, Việt Nam’s story is not only about economic statistics. It is a story of ambition. Investments in infrastructure, the establishment of an international financial centre and the embrace of digital transformation and green energy show a nation determined to secure its future on the global stage.

As Chairman of the Italian Chamber of Commerce in Việt Nam, I have witnessed these changes over more than 20 years.

The speed of progress has been remarkable, but even more striking is the sense of possibility that lies ahead. Việt Nam has the talent, energy and international partnerships to become not only a manufacturing hub but also a leader in sustainability and innovation.

At 80, Việt Nam is still young, and its future promises to be every bit as dynamic as its past.

Atul Tandon, General Director of AstraZeneca Vietnam

 

Việt Nam’s economic transformation over recent decades has been remarkable, with the country achieving sustained GDP growth and emerging as one of Southeast Asia’s most dynamic economies. Particularly noteworthy has been Việt Nam’s significant progress in healthcare infrastructure and public health outcomes.

Life expectancy has increased substantially, maternal and infant mortality rates have declined and the country continues to set new benchmarks in its resolve to counter the growing burden of both communicable and non-communicable diseases.

The Vietnamese Government’s commitment to healthcare modernisation, including the implementation of Social Health Insurance covering over 94 per cent of the population, has created an environment where innovative healthcare solutions can truly make a difference. This transformation has coincided with Việt Nam’s growing middle class and increased healthcare awareness, creating opportunities for advanced medical treatments and preventive care approaches.

AstraZeneca Vietnam has been privileged to grow alongside this remarkable national development. Over more than 30 years of presence in Việt Nam, we have witnessed firsthand the country’s dedication to improving healthcare outcomes for its people. Our journey here reflects our broader mission of pushing the boundaries of science to deliver life-changing medicines.

We have strategically aligned our capabilities with Việt Nam’s healthcare priorities, particularly in areas where we can make the most significant impact. Our focus on oncology has supported Việt Nam’s efforts to address the growing cancer burden through innovative treatments and early detection programmes. In respiratory, cardiovascular and metabolic health, we have played a vital role in tackling some of Việt Nam’s most pressing health challenges, supporting the management of diabetes, chronic kidney disease, asthma and COPD — conditions that affect millions of Vietnamese patients and their families.

Our commitment extends beyond simply providing medicines. We have invested in healthcare education programmes, supporting medical professionals with the latest clinical knowledge and treatment protocols.

Through partnerships with local healthcare institutions, we have facilitated knowledge transfer and capacity-building initiatives that strengthen Việt Nam’s overall healthcare ecosystem. We have also prioritised making our medicines accessible, working closely with government agencies and healthcare providers to ensure patients can benefit from innovative treatments and more sustainable policies. Our patient assistance programmes and health awareness campaigns demonstrate our commitment to the Vietnamese community’s wellbeing.

To support the development of local research capabilities and contribute to Việt Nam’s emergence as a regional hub for clinical excellence, we have brought 112 clinical research projects into the country since 2006, providing Vietnamese patients with early access to cutting-edge treatments while ensuring our medicines are developed with diverse patient populations.

As Việt Nam continues its impressive development trajectory, AstraZeneca remains committed to being a trusted healthcare partner. We see tremendous potential in Việt Nam’s healthcare sector and are excited to contribute to the country’s vision of providing world-class healthcare for all citizens. Our continued investment in Việt Nam reflects our confidence in the nation’s future and our shared commitment to transforming lives through innovative healthcare solutions.

Together, we are building a healthier future for Việt Nam, supporting the country’s broader development goals while advancing our mission of improving patient outcomes across the region.

Binu Jacob, General Director of Nestlé Việt Nam

 

I believe that ever since Đổi mới (Renewal) began in 1986, Việt Nam has made significant progress. In my view, there are several areas where Việt Nam has exceeded expectations. The first is human development. Việt Nam today boasts some of the best talent in the region and we have been leveraging this talent to transform Việt Nam increasingly into an export hub.

Party General Secretary Tô Lâm noted that one challenge Việt Nam faces is low value-added exports. From Nestlé Vietnam’s perspective, we have been very conscious of this, ensuring that most of the benefits from exports remain in Việt Nam. For example, from farm to final finished product, we work with farmers to ensure they benefit, collaborate with manufacturers of materials used in production so they gain value and even carry out packaging of the finished goods locally.

We are growing more confident with Việt Nam’s 80 years of progress and the vision for 2045. We are here to stay and to support the Vietnamese Government in its goal of making Việt Nam a developed, high-income country with a strong, modern, and inclusive economy, focused on digitalisation and innovation and committed to green development and sustainability.

Phạm Anh Đức, General Director of PVI Insurance Corporation

 

Over the past eight decades, Việt Nam’s economy has shown resilience and strong growth, becoming one of the fastest-growing and most stable economies in the region. With a larger GDP and rising profile in global trade, the country has built a solid foundation for the next stage of development toward prosperity and sustainability.

Along with this growth, Việt Nam’s business environment has changed significantly. Policies are now more transparent, administrative procedures simpler and infrastructure more modern. Vietnamese companies not only compete at home but also in the global arena, facing stricter demands on compliance, social responsibility and sustainability. This shift has made risk management a higher priority, underlining the importance of insurance for businesses.

In this context, PVI Insurance has leveraged its strengths to grow with the nation. First, its roots in the oil and gas sector gave it early experience in protecting large and complex projects, building technical discipline, risk assessment skills and an investor-focused mindset.

Second, PVI is among the few Vietnamese insurers with extensive partnerships with top global reinsurers, bringing international standards to the domestic market. This ensures Vietnamese clients can access world-class insurance solutions. Notably, PVI is the only non-life insurer in Việt Nam rated A- (Excellent) by AM Best, proving its financial strength and creating a competitive edge as Vietnamese businesses expand abroad.

Third, PVI moved early to support integration, offering transport, liability and trade credit insurance as free trade agreements opened new opportunities, helping businesses export and import, as well as join global supply chains with confidence.

Finally, PVI is a pioneer in green and digital trends, covering renewable energy and cybersecurity risks while digitalising services. This allows the company to meet new market demands and contribute to Việt Nam’s green and digital transition.

Olivier Langlet, CEO of Central Retail Việt Nam

 

Over the past 80 years, Việt Nam has travelled a remarkable journey – from the stage of post-war reconstruction to becoming one of the most dynamic economies in Asia. Bold reforms by the Government have created an increasingly open and attractive investment environment. For this reason, Central Retail – as a foreign investor – has placed strong confidence in Việt Nam’s development policies and demonstrated its long-term commitment through continuous expansion across the country.

Since entering the market in 2012, Central Retail has grown to become one of the leading retailers in Việt Nam, with more than 330 stores and malls in 26 provinces and cities, covering over 1.3 million m² of retail space and employing around 15,000 people. Recent openings include GO! Hưng Yên in July 2025, with GO! Yên Bái set to launch in September 2025.

The dynamism of the economy, combined with a tech-savvy young generation, has also enabled us to accelerate digital transformation and develop multi-channel retail to bring greater convenience to customers.

Alongside business expansion, Central Retail is steadfast in pursuing the strategy 'Contributing to Việt Nam’s prosperity – Better for Việt Nam'. More than 90 per cent of the products we sell are sourced locally, helping Việtnamese businesses bring their goods to nearly 100 million consumers, while also promoting exports to international markets. Each year, we purchase over 90,000 tonnes of fresh food and agricultural products from about 1,000 domestic suppliers, thereby enhancing the value of Vietnamese produce, supporting farmers and contributing to sustainable growth.

We are also deeply engaged with the community through various social initiatives: delivering 13 schools over the past five years under our 'One Mall – One School' programme, planting 14,000 trees in Đồng Nai and Bình Thuận provinces [Bình Thuận is now part of Lâm Đồng Province], and supporting more than 5,000 disadvantaged households through the 'Tết for Compassion' campaign.

For Central Retail, success is not only measured by business performance, but also by our ability to grow hand in hand with Việt Nam’s development and prosperity.

Hoàng Trung Sơn, Chairman of the Vietnam Pulp and Paper Association cum General Director of Đồng Tiến Packaging and Paper Company Ltd

 

I graduated from the Hanoi University of Science and Technology in 1985. I have witnessed our country's transformation through the Đổi mới era, starting in 1986 with the implementation of the open-door policy in 1989.

It can be said that since the Party and Government determined it had to innovate in leadership thinking and improve the system, integrating the country into the global economy, the country has achieved great success, particularly in economic fields, with average GDP growth reaching nearly 7 per cent over the 20 years from 2001 to 2020 and remaining resilient during the financial crisis of 2008-09.

Since 2020, besides the global COVID-19 pandemic, the world has also undergone great political upheavals and the 4.0 technological revolution featuring two main trends: green transformation and digital transformation.

Particularly, the new tariff policies of the US have disrupted and will continue to disrupt the global economy, marking the beginning of a more arbitrary, protectionist that carries greater risks.

All these factors have created numerous development opportunities but also posed considerable difficulties, challenges and unpredictability for the global economy, including Việt Nam.

In this context, the paper and pulp industry in Việt Nam, a vital sector for the economy, and my company in particular, have experienced significant growth, with an average production increase of over 10 per cent during the past decade, meeting both domestic and export demand, especially for packaging, printing and sanitary paper products.

The year 2025 is considered the beginning of a new era for our nation, one marking its rise.

With Resolution No 68-NQ/TW, the private economy is considered by the Party and Government as a crucial driving force in economic development. Together with many strategic solutions aimed at achieving breakthrough development, surely Việt Nam will achieve its targeted double-digit GDP growth in the coming decade.

The paper and pulp industry, primarily composed of domestic private and foreign enterprises, will have ample opportunities for development. 

The Vietnam Pulp and Paper Association is actively contributing to creating a strategic direction for the industry’s development through 2030, soon to be approved by the government. 

But the great opportunities notwithstanding, the paper and pulp industry, including our company, also faces numerous challenges that need attention and support from the government to ensure a successful dual transformation for sustainable and rapid development. 

For example, it is necessary to create more favourable conditions for importing waste paper (known worldwide as recycled paper), a crucial secondary raw material meeting over 50 per cent of the paper sector's input needs.

Furthermore, it is needed to professionalise the waste-paper collection operations and consider it as a tax-exempt activity to enhance collection rates and recycling. It is also necessary to address the investment imbalance and the shortage of skilled technical and senior managers. — VNS