This article was originally published in the Brand Finance Vietnam 100 2026.
Vietnam is sharpening its focus on building globally competitive national champions, with the Politburo’s Resolution No.79 providing a clear and structured roadmap for the next phase of State-Owned Enterprise (SOE) development. The policy reaffirms the state economy as a cornerstone of Vietnam’s socialist-oriented market model, positioning state-owned enterprises not only as instruments of macroeconomic stability, but also as key drivers of long-term growth and custodians of national strategic interests.
The ambitions outlined in the resolution closely align with trends observed in the Brand Finance Vietnam 100 2026 ranking, where state-linked enterprises continue to occupy leading positions across banking, telecommunications, energy, and infrastructure sectors. These brands have historically played a significant role in supporting economic development while maintaining strong market positions domestically.
At the heart of this agenda lies a decisive shift towards scale and competitiveness. By 2030, Vietnam targets 50 SOEs to rank among Southeast Asia’s 500 largest companies, with one to three entering the global top 500. This signals a more deliberate push to cultivate enterprises of sufficient scale and capability to compete internationally, while deepening Vietnam’s integration into global value chains.
Execution will centre on the development of large, technology-led state-owned groups in priority sectors. These entities are expected to anchor domestic industrial capacity, while strengthening Vietnam’s positioning within global production networks, supporting both resilience and export competitiveness over the long term.
Governance reform is a critical enabler of this transformation. The resolution emphasises the adoption of modern, digitally enabled management systems and closer alignment with international best practice, including Organisation for Economic Co-operation and Development (OECD) standards. Enhancing transparency, efficiency, and accountability will be key to improving operational performance and reinforcing investor confidence in the SOE sector.
The financial sector is positioned as a key catalyst in this transition. The government’s ambition for at least three state-owned commercial banks to rank among Asia’s top 100 by total assets reinforces the importance of scale, technological capability, and governance standards. This aligns with findings from Brand Finance’s banking sector research, which consistently shows that strong governance, digital innovation, and customer trust are increasingly important drivers of brand value and brand strength.
Taken together, these priorities reflect a clear pivot, from domestically focused consolidation towards outward-facing competition. Realising these ambitions will depend on effective execution, particularly in governance reform, innovation acceleration, and embedding SOEs more deeply within international value chains, as competitive intensity across ASEAN continues to rise.
Overall, Resolution No.79 represents a structural evolution in Vietnam’s development trajectory. The policy ambitions around scale, governance, and technology provide a supportive framework for the next generation of Vietnamese national champions. As reflected in the Brand Finance Vietnam 100 rankings, brands that successfully combine these capabilities will be best positioned to strengthen their competitiveness and enhance Vietnam’s standing on the regional and global stage.
