Vietnam's moment

It is easy to be optimistic about Vietnam. The economy grew by just over 8 per cent in 2025, foreign investment continued to arrive, and in July 2026 the World Bank reclassified the country as upper-middle-income. Some 195,000 new enterprises were established in 2025, almost a quarter more than the year before. Few countries in the world combine this pace with such a young, hard-working and adaptable population.

A window of opportunity

That young population is also a reminder that time matters. Vietnam's so-called golden population period, when there are many people of working age for each dependant, is expected to end around 2040, and the country is ageing faster than many of its neighbours. The next fifteen years are therefore an unusually good time to build companies that are productive, well organised and able to grow without relying only on more people.

Productivity: the next chapter

Official figures put labour productivity at a little under 10,000 US dollars per worker in 2025, rising by nearly 7 per cent a year. That growth is impressive, yet the level is still well below that of regional peers such as Malaysia or Thailand. This is not a weakness of Vietnamese workers, who are widely admired by foreign employers. It reflects the fact that most companies are still small, and that management systems, training and investment have not always kept pace with growth.

An opportunity on the doorstep

Japanese companies in Vietnam are a good example of the opportunity. In recent surveys by JETRO, the Japan External Trade Organization, a majority expected to make a profit and planned to expand, and around half said they would like to buy more from local suppliers. Yet only a modest share of their inputs currently comes from Vietnamese-owned firms. The gap is usually not about price. It is about consistent quality, reliable delivery and clear documentation: exactly the areas where European and Japanese working methods can help.

The best of both

Vietnamese businesses bring speed, flexibility and strong relationships. European practice adds structure, governance and long-term planning. Japanese practice adds precision and continuous improvement. None of these replaces the others; together they are formidable. That combination is what we care about, and it is why we believe the most exciting years for Vietnamese companies lie ahead.