High-Quality Talent as a New Growth Driver

Key pointsOn October 8, 2026, the 3rd Hanoi Economic Forum (CEF III) emphasized that high-quality talent is a direct driver of productivity improvement, innovation, and competitiveness for companies. Sustainable development is positioned as a new growth factor, necessitating a focus on talent development by businesses.
Business impactJapanese companies should reassess their strategies for securing and developing high-quality talent and invest to maintain competitiveness. In particular, the human resources management sector is expected to strengthen talent development programs.

Key pointsIn the first nine months of 2026, Vietnam's economy has maintained strong growth, but the average Consumer Price Index (CPI) has risen by 4.52%, limiting price management options. Economic expert Ngô Trí Long has pointed out that managing inflation is becoming increasingly challenging. New strategies will be needed to maintain macroeconomic stability while controlling inflation.
Business impactJapanese companies must consider the impact of rising prices on costs and reassess their pricing strategies and cost management. It is crucial to reflect the effects of inflation in product pricing and procurement strategies.

Key pointsVietnam has approximately 2.5 million hectares of keo forests, contributing to the livelihoods of 1.5 million households. However, most wood is utilized at low prices, and there is a demand for higher value-added products. A forum held in Hanoi on October 8, 2026, emphasized the need for research on sustainable keo value chains and industry collaboration. Future efforts should focus on large-scale production, deep processing, and overall value enhancement. Furthermore, wood and forest product exports are expected to reach about $17.2 billion by 2025, indicating room for further value improvement given the current utilization status.
Business impactJapanese companies need to be aware of the shift towards high value-added products in Vietnam's wood market and reconsider their product development and marketing strategies. It is also important to pay attention to new regulations and support measures regarding sustainable forest management and to consider appropriate responses.

Key pointsAs Vietnam approaches Digital Payment Day in 2026, digital payments are becoming an integral part of daily life. Transactions through QR code scanning and card tapping are increasing, expanding their use in shopping, transportation, and public services. The aim is to promote sustainable consumption choices and enhance financial inclusion, which is expected to accelerate economic growth and digital transformation.
Business impactJapanese companies need to enhance customer convenience in line with the proliferation of digital payments. Specifically, it is essential to implement or improve payment systems to increase competitiveness. Companies should consider strategies to meet customer needs through the provision of sustainable services.

Key pointsThe Japan International Cooperation Agency (JICA) has announced a support package consisting of four pillars to assist Vietnam in transitioning to a new growth model. This package aims to contribute to Vietnam's goal of becoming a high-income country by 2045. JICA has expressed its intention to further cooperation through enhanced staff training programs with the Ho Chi Minh National Academy of Politics and the expansion of volunteer activities.
Business impactThis support provides opportunities for Japanese companies to strengthen collaboration with the government in their business operations in Vietnam. In particular, the enhancement of training programs will contribute to the capacity building of local staff, which will be a factor in increasing the competitiveness of companies.

Key pointsThe Hanoi Gift Show 2026, an international handicraft exhibition, will be held from October 8 to 11, 2026, in Hanoi, featuring 230 companies and cooperatives with 500 booths. The event aims to promote Hanoi's handicrafts both domestically and internationally.
Business impactThis exhibition provides Japanese companies with an opportunity to enter the Vietnamese handicraft market. It is particularly beneficial for companies considering exports, as it offers a good chance to strengthen networking with local partners.

Key pointsVietnam's national brand program has played a crucial role in raising corporate brand awareness over its 23 years of implementation. By 2026, 499 products from 227 companies are expected to be certified as national brands. New standards for product development are being advanced, with expectations for improved competitiveness in international markets.
Business impactJapanese companies have the opportunity to strengthen their competitiveness by reviewing their brand strategies in the Vietnamese market and obtaining national brand certification. There is a particular emphasis on improving quality and compliance with international standards.

Key pointsOn October 5, 2026, the Cao Bang Provincial People's Committee held a press conference regarding the progress of this year's socio-economic development and key tasks leading up to the end of 2026. Cao Bang Province has generated approximately 3 trillion VND in revenue from tourism and is working hard to achieve a growth target of over 10%. Overcoming challenges, Cao Bang Province is experiencing good growth.
Business impactThe efforts to achieve Cao Bang Province's growth targets present business opportunities in the tourism sector and related industries. Japanese companies may find it worthwhile to explore new market development alongside the growth of the tourism industry.

Key pointsIn September 2026, exports reached $59.48 billion, marking a record high. This exceeded imports by $1.27 billion, ending a nine-month trade deficit. However, the cumulative deficit over nine months remains at $19.42 billion, contrasting with a $16.9 billion surplus in the same period last year. Exports increased by 39% year-on-year, with electronic equipment exports making a significant contribution.
Business impactThis shift in trade balance is a crucial indicator for Japanese companies. Particularly, firms in the electronics sector can anticipate future export opportunities, although there are ongoing concerns about high import dependency. Companies need to reassess their raw material procurement strategies.

Key pointsVietnam welcomed 17.7 million international tourists in the first nine months of 2026, marking a 14.5% increase compared to the same period last year. The tourism industry continues to grow, particularly with an increase in visitors from the Asian region.
Business impactJapanese companies need to capitalize on the growth of the tourism sector by exploring business opportunities in the travel and hospitality industries.

Key pointsIn the first nine months of 2026, Asian countries, including China, have increased imports of agricultural products from Vietnam, particularly vegetables and seafood, leading to an agricultural export value of $56.3 billion. China remains the largest export destination for Vietnamese agricultural products, accounting for about 25% of the total. The United States and Japan are also increasing their imports, making the agricultural sector a crucial support for the economy.
Business impactJapanese companies should leverage the growth of Vietnam's agricultural market and seek export opportunities, particularly by strengthening strategies for access to the Chinese market.

Key pointsOn October 2, 2026, Binh Long Province will hold a local dialogue and private economy forum themed 'Development of the Private Economy: Institutional Reform and Public-Private Partnerships'. The forum will discuss the role of local intellectuals and advancements in digitalization, emphasizing efforts to revitalize the regional economy.
Business impactJapanese companies may expand business opportunities by understanding local economic trends and strengthening collaboration with the region.