Vietnamese firms need to go global to sustain high growth: FPT chairman

Vietnamese companies need to boldly expand globally, seek new opportunities, and harness innovation, as international experience shows that no country can sustain high growth over the long term without a broader presence in global markets, said tech giant FPT chairman Truong Gia Binh.

Speaking at a Friday conference highlighting enterprises' role in the country's effort to achieve double-digit growth, Binh said the world is facing "unprecedented upheavals like a tsunami”.

"Simmering tensions after the Cold War are building and erupting, potentially leading to the emergence of a new world order. At the same time, the rapid rise of AI is raising fundamental questions about the future role of humans. Against this backdrop, Vietnam faces prolonged challenges , with its growth target of at least 10% bringing mounting pressure," he noted.

Assessing the strength of domestic enterprises, Binh said most Vietnamese firms are small and medium-sized, with few new names rising to prominence.

He raised questions over the role of large corporations in supporting the domestic business community, as well as the development space for smaller firms as they partner with foreign companies.

Despite the economy’s strong openness, the number of “Made in Vietnam” products remains limited, he noted, adding that the roles and responsibilities of businesses toward one another also warrant closer scrutiny.

Binh proposed mechanisms to enhance linkages among enterprises of all sizes, as well as between businesses and local authorities, in order to develop long-term growth strategies.

The “three together” principle - joint planning, joint implementation, and joint sharing of outcomes - should be applied, with the State playing a critical role, particularly in shaping institutional frameworks, he said.

Vietnam ranks sixth globally for AI openness but real-life application is limited, he went on, citing the global AI index of 40 markets, published by the Worldwide Independent Network of Market Research last year.

Vietnam has yet to reach the “AI-first” stage, in which AI serves as the foundation for all activities, according to the FPT chairman. He also referred to a higher stage, “AI-native,” in which all data is standardized and systematically processed from the outset, while humans shift toward roles in creativity, decision-making, and oversight.

"Vietnam remains far from this model. In Vietnam, AI currently exists mainly in the digital space, with its application in the physical world (physical AI) still limited. Amid rapidly growing demand for drones, robots and autonomous and unmanned systems, the country has yet to develop a strong portfolio of products or notable capabilities in these areas," Binh stressed.

In addition, emerging trends such as edge AI and on-chip AI have yet to be deeply explored, he added, pointing to Vietnam’s reliance on foreign AI platforms, which poses potential risks to data and technological sovereignty.

At the conference, Prime Minister Pham Minh Chinh said that to help the country overcome headwinds and achieve double-digit growth, all ministries, sectors and localities must also grow at double-digit rates. "But the business community will serve as a pioneering force in delivering the country’s upcoming double-digit growth target."

In 2025, Vietnam recorded around 1 million active enterprises, up more than 25% from 2020. The corporate sector accounted for about 60% of GDP and employed more than 16 million workers, according to a report presented at the event.

Vietnam’s economy grew 8.02% in 2025, its second-fastest pace in the past 15 years, driven mainly by services and industrial production, data from the National Statistics Office shows. The economic expansion was second only to 2022’s 8.12% over the 2011-2025 period, the agency said.

The National Assembly, Vietnam's legislature, on November 12, 2025 approved a resolution setting an economic expansion target of at least 10% for 2026, per capita GDP at $5,400-5,500, and inflation controlled at around 4.5%.