Businesses accelerate overseas expansion

August 28, 2026 | 15:00

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Vietnamese businesses are stepping up efforts to expand overseas, as rising outward investment and growing plans for international expansion point to a stronger push for growth beyond the domestic market.

Green SM is stepping up its international expansion, bringing its electric mobility model to new markets beyond Vietnam. Photo: Green SM

According to figures from the National Statistics Office (NSO) under the Ministry of Finance released in early August, Vietnam issued new investment certificates for 106 overseas projects with total registered capital of $1.17 billion in the first seven months of 2026, 2.9 times higher than a year earlier.

A further 23 projects received approval to increase their investment, with additional capital reaching $1.19 billion, 9.2 times higher on-year.

Combined, newly registered and additional capital brought Vietnam’s total outward investment to $2.36 billion in the first seven months, up 4.5 times from the same period last year. The investment went to 35 countries and territories, with Laos remaining the largest recipient at $638.3 million, accounting for 27 per cent of the total. Cambodia followed with $449.9 million, or 19 per cent, while Indonesia ranked third with $308.6 million.

The NSO said the spread of investment across 35 economies showed that Vietnamese businesses were gradually diversifying their investment destinations, moving beyond neighbouring countries into new markets in South Asia, Central Asia, and Europe.

Anish Daryani, founder and CEO of Havas Moonfolks and Moonfolks Vietnam, an independent marketing network focused on communications and creative advertising in Southeast Asia, said the goal of taking Vietnamese businesses global “is gradually becoming a reality”.

He cited Vingroup as one example, with its VinFast ecosystem and ride-hailing service Green SM expanding across Southeast Asia and into markets beyond the region. Besides that, in June, Vinpearl announced the successful closing of a $255 million strategic investment from SeaTown Private Credit Fund III, a private credit fund.

"This investment reflects confidence from leading international financial institutions in Vinpearl’s position, growth potential, and long-term development strategy," Daryani said.

The investment is made in the form of convertible dividend preference shares issued by Vinpearl. The transaction demonstrates strong confidence from leading global investors in the long-term growth potential of Vinpearl, as well as Vietnam’s tourism and hospitality sector, he added.

In food and beverages, Pizza 4P’s and Maison Marou have also taken their brands to markets including Jakarta, Tokyo, Singapore and New York. Biti’s, Masan and Coolmate could be among the next Vietnamese names to follow suit.

Daryani said structural changes in the economy were making it easier for Vietnamese brands to look overseas.

"The ability to adapt quickly to digital technology, together with a more skilled workforce, was also helping businesses improve their competitiveness. Vietnam has built a strong foundation for domestic businesses to compete at both regional and international levels,” he said.

Elsewhere, Hoang Anh Gia Lai Group, a Vietnamese agricultural production and processing company, has signed a MoU to develop a 5,000-hectare high-quality coffee plantation in Champasak province of Laos, with a total investment of $50 million.

As per the deal, the group will develop a 5,000-hectare coffee plantation and build a processing plant on the Bolaven Plateau, a major agricultural region in southern Laos known for its fertile soil and favourable conditions for coffee cultivation.

The $50-million project aims to produce high-quality coffee for export to global markets. Hoang Anh Gia Lai said it plans to expand its cultivation areas to more than 20,000 hectares across Laos, Cambodia, and Vietnam as part of its long-term ambition to become a global leader in large-scale plantation farming.

But expanding overseas brings its own challenges. Daryani added that Vietnamese businesses will need to further strengthen their brands, product quality and understanding of local consumers as they enter more competitive international markets.

“The ability to adapt quickly, understand local markets and build strong brands will be critical for Vietnamese companies seeking to establish a lasting presence overseas,” he explained.

The stronger investment flow is also being matched by growing ambitions to expand business operations overseas. A 2026 Business Outlook Study released by UOB in June found a strong appetite among Vietnamese businesses to look beyond the domestic market for new growth opportunities.

The study covered Singapore, Indonesia, Malaysia, Thailand, Vietnam, mainland China, and Hong Kong. In Vietnam, 226 large and medium-sized businesses from across the country took part in the survey.

Seven in 10 Vietnamese businesses said they had expanded overseas in 2025, while nine in 10 plan to continue expanding over the next three years.

The survey also found that 80 per cent plan to invest overseas within the next two years, with average investment expected to exceed $28 million. ASEAN remains the preferred destination, selected by 65 per cent of respondents, with Thailand, Singapore and Indonesia among the most popular markets.