Vietnam Enlists Diplomats in Push to Take Local Firms Global

Vietnam will enlist its embassies and overseas trade offices to help domestic companies enter foreign markets, as the government steps up efforts to build homegrown businesses capable of investing and competing abroad.

The country’s ministry of industry and trade plans to use its diplomatic network to provide companies with market intelligence, identify potential partners and alert them about regulatory changes and trade barriers, deputy minister Nguyen Sinh Nhat Tan said at a diplomatic conference in Hanoi.

These measures form part of Vietnam’s GoGlobal programme, which aims to help at least 1,000 companies develop international expansion plans by 2030. The government approved the initiative on April 6, while the ministry issued its implementation plan in June.

The programme is intended to move beyond conventional export promotion by helping Vietnamese companies invest overseas, acquire businesses and establish distribution networks, logistics centres, research facilities and after-sales operations in foreign markets.

At least 10,000 companies will receive training in international investment and business operations. A further 100 will receive more extensive support to invest overseas, with the government targeting mergers and acquisitions for 30% of that group.

Another 100 businesses will be assisted across research, product design, manufacturing, distribution and international brand development. At least 20 large companies across industries are now considered strategically important.

The government will also support 100 businesses selling through Vietnamese and international cross-border e-commerce platforms. At least 10 are expected to generate annual online export revenue exceeding $10 Mn by 2030.

Vietnam will prioritise companies that can lead global value chains, serve specialist markets or expand in technology, digital services and logistics. Target industries include advanced manufacturing, e-commerce, green products and other high-value technology sectors.

The programme will focus on strengthening corporate activity in established markets including the US, the European Union, China, Japan and South Korea, while supporting expansion into the Middle East, Africa, South Asia and Latin America.

The ministry is setting up a steering committee and programme office. It plans to introduce a GoGlobal portal and index to assess the international readiness of businesses, industries and local governments. The Vietnam Trade Promotion Agency will co-ordinate the programme and consolidate annual progress reports for ministry leaders, before the ministry reports to the prime minister.

Vietnam’s overseas missions will also help connect domestic businesses with multinational companies, distributors, logistics operators, investors and trade-promotion agencies, while gathering information on technical standards and potential trade restrictions.

The initiative marks an effort to translate Vietnam’s success as an export-manufacturing base into a larger group of domestic companies with their own foreign investments, distribution networks and international brands.