Trusted data key to Việt Nam’s next growth chapter

Trusted data key to Việt Nam’s next growth chapter

For years, Việt Nam’s growth has been driven by manufacturing, exports and sustained foreign investment. As the economy enters a new stage of development, however, the focus is shifting towards higher productivity, innovation and stronger domestic enterprises.

The forum brought together representatives from Government agencies, financial institutions, international organisations and the business community. — VNS Photo Vũ Hoa

 As Việt Nam seeks to turn strong investment and manufacturing momentum into higher-value, more resilient growth, businesses will increasingly need to compete not only on cost and production capacity, but also on transparency, credibility and their ability to make sound decisions in an increasingly complex global economy.

This was a central message at the inaugural CRIF Forum Vietnam 2026, held in Hà Nội on Thursday under the theme “Empowering Growth with Trusted Data”.

The forum brought together representatives from Government agencies, financial institutions, international organisations and the business community to discuss how reliable information can support better decision-making in investment, finance, technology, supply chains and enterprise development.

For years, Việt Nam’s growth has been driven by manufacturing, exports and sustained foreign investment. As the economy enters a new stage of development, however, the focus is shifting towards higher productivity, innovation and stronger domestic enterprises.

Business competitiveness is no longer determined solely by costs or production capacity. Transparency, credibility and access to reliable information are becoming increasingly important for enterprises seeking capital, new partners and higher-value positions in global supply chains.

Nguyễn Minh Tú, General Director of CRIF D&B Vietnam, said Việt Nam had built an impressive growth story, with significant opportunities still ahead.

“But as the economy becomes more sophisticated, the quality of decisions will increasingly depend on the quality of information behind them,” Tú said.

Trusted data enables businesses, financial institutions and investors to assess risks, identify opportunities and make decisions with greater confidence, he said.

“Trust is increasingly part of the infrastructure that allows capital to move, businesses to transact and enterprises to participate confidently in domestic and international markets.”

From an international perspective, Italian Ambassador to Việt Nam Marco Della Seta stressed that access to reliable information was an important condition for businesses seeking financial services and making investment decisions.

For Italian companies operating in Việt Nam, transparent data and effective risk assessment are particularly important when considering investment, business expansion and service quality, he said.

Nguyễn Đỗ Hòa, representing UK Export Finance, said Việt Nam had significant opportunities to attract foreign investment, but transparent information remained an important consideration for investors when selecting destinations and partners.

With its well-developed port system, Việt Nam also had the potential to become a maritime hub, he said.

Will Ross of Dragon Capital Vietnam said Việt Nam should position itself as an attractive destination for foreign capital, noting the Government’s long-term investment in infrastructure, including the development of an international financial centre.

He compared Việt Nam to a cup of coffee with many different flavours, saying the country needed to showcase those strengths to international investors and translate them into greater value.

From the Government’s perspective, Nguyễn Xuân Thọ, Deputy Director General of the Agency for Private Enterprise and Cooperative Development under the Ministry of Finance, said reliable data was becoming an important measure of corporate credibility in the digital economy.

“In the digital economy, trusted data is becoming an important measure of an enterprise’s credibility, directly affecting its ability to access capital, expand markets and participate more deeply in value chains,” he said.

Transparency also played a key role in strengthening confidence among investors and business owners, he added.

The Agency for Private Enterprise and Cooperative Development was ready to work with domestic and international partners to build a transparent, reliable and sustainable business data ecosystem, Thọ said.

Transparency as a competitive advantage

As Việt Nam modernises its financial markets and seeks to increase its appeal to domestic and international capital, modern data infrastructure and strong market institutions will become increasingly important.

A recurring message at the forum was that Việt Nam’s next phase of growth could not be measured solely by investment inflows or manufacturing output.

To move further up global value chains, Vietnamese enterprises will need to improve productivity, digital capabilities and corporate governance while demonstrating their credibility to banks, investors, customers and international partners.

This is particularly important as Việt Nam seeks to strengthen links between foreign-invested enterprises and domestic companies.

As international corporations impose increasingly demanding requirements on suppliers and partners, the ability to provide complete, transparent and verifiable information will become an important condition for Vietnamese businesses seeking to enter higher-value segments of global supply chains.

Reliable information on enterprises, business partners, suppliers and commercial relationships can give financial institutions greater confidence in allocating capital, help companies select reputable partners and enable Vietnamese businesses to demonstrate their capabilities in major markets.

The issue is particularly relevant to manufacturers and exporters as international trade standards continue to evolve.

Businesses need greater control over and visibility into supplier information, product origins, counterparties and risks throughout their value chains.

Transparency, therefore, is no longer simply a matter of compliance or internal operations. It can directly influence market access, financing, investment attraction and competitiveness.

Trusted data as the foundation for AI

Rapid technological development, particularly the rise of artificial intelligence (AI), is creating another important requirement for corporate data.

As businesses increasingly use AI for analysis, forecasting and decision-making, the quality of the underlying data is becoming more critical.

An AI system may deliver results quickly, but speed does not guarantee quality if the information feeding the system is incomplete, inaccurate or poorly governed.

High-quality data, appropriate governance, transparency and human oversight will therefore be essential for businesses seeking to adopt AI effectively and responsibly.

The forum’s discussions also placed the data agenda within the broader transformation of Việt Nam’s economy, from a growth model built largely around manufacturing and exports towards one increasingly driven by productivity, innovation and higher value added.

In an increasingly complex global economy, trusted data can help businesses reduce risks in individual transactions while building credibility in the wider market.

It can become an intangible asset, helping enterprises gain easier access to capital, expand business relationships and gradually strengthen their position in global value chains.

Across the forum, a common message emerged: Việt Nam’s next growth chapter will depend not only on its ability to attract investment and expand production, but also on its ability to build stronger enterprises, more transparent business ecosystems and an environment in which information can be trusted and decisions made with greater confidence.

The CRIF Forum series brings together business leaders, policymakers, institutions and industry experts across six Asian markets, the Philippines, Taiwan, Indonesia, Việt Nam, Japan and Singapore, to exchange views on the economy, technology, risk and the role of trusted data in enabling growth and more confident decision-making.

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