At a recent high-level conference led by Prime Minister Pham Minh Chinh, some of Vietnam’s most influential business leaders gathered to discuss ways to foster economic and social development. Among the attendees were executives from Masan Group and Vingroup, two of Vietnam’s largest and most powerful conglomerates.
Both organizations presented ambitious plans aimed at elevating Vietnam’s profile on the global stage - Masan through the promotion of Vietnamese cuisine and Vingroup through the expansion of English language education and technology workforce training.
Masan’s Global Culinary Ambitions
Masan, a major player in Vietnam’s consumer goods sector, outlined its strategy for promoting Vietnamese cuisine to the world. At the conference, Nguyen Thieu Nam, Vice CEO of Masan, proposed that the Vietnamese government establish a roadmap for turning Vietnamese food into a globally recognized brand. Nam suggested that promoting Vietnamese cuisine internationally should not only serve commercial goals but also act as a form of cultural diplomacy.
“This is a form of cultural diplomacy, bringing Vietnamese culinary culture to the international and regional levels,” Nam explained. Masan is positioning itself to be at the forefront of this initiative, offering to partner with the government to execute this global strategy.
For Masan, food is not just a product—it’s a powerful vehicle for brand building and national pride. The company already boasts an impressive portfolio of consumer goods, including popular brands like Kokomi, Omachi, Chin-Su, Nam Ngư, and Wakeup-247. These brands have annual revenues of between $150 and $250 million, demonstrating Masan’s ability to scale products in both domestic and international markets.
Masan’s “Go Global” journey has already yielded success. One of its flagship products, Chin-Su chili sauce, became the best-selling chili sauce on Coupang, a major e-commerce platform in South Korea, earlier this year. Chin-Su had also previously ranked in the top eight best-selling chili sauces on Amazon. These achievements highlight how Vietnamese food products, particularly sauces and condiments, are gaining traction in highly competitive international markets.
Masan’s ambitions go beyond sauces. In July 2024, the company exported its 12th container of hydroponically grown lettuce to South Korea, solidifying its reputation as a leader in the export of clean, high-quality vegetables. This move underscores Masan’s ability to diversify its offerings while promoting Vietnamese agricultural products on a global scale.
However, the company knows that global expansion requires more than just good products. Masan called on the government to support Vietnamese small and medium-sized enterprises (SMEs) by providing a framework for exporting goods, including a detailed playbook of technical standards and trade promotion materials for international markets. This would allow SMEs to navigate the complexities of foreign markets more easily, making it possible for more Vietnamese businesses to succeed abroad.
Vingroup’s Vision For Global Citizens
On the other side of the economic development spectrum, Pham Nhat Vuong, Chairman of Vingroup and Vietnam’s wealthiest billionaire, proposed a different, though equally impactful, initiative. Vuong advocated for a nationwide expansion of English language education, not only in schools but also for the broader population. He emphasized the need to develop a “global citizen society” in Vietnam, where English proficiency would open doors to better economic opportunities, especially for those in remote areas.
Vuong’s proposal aligns with the government’s long-standing goal of boosting foreign language proficiency among students, with a vision to gradually introduce English as a second language in schools. However, Vuong’s approach expands on this by suggesting that businesses, including Vingroup, could play an active role in supporting English education. Specifically, he recommended that businesses contribute by sponsoring teachers and educational programs in rural areas, where access to quality education is often limited.
This initiative is about more than just language—it’s about economic empowerment. By improving English proficiency, Vietnam can better integrate into the global economy, offering its citizens more job opportunities, particularly in industries that require interaction with international clients, such as tourism, IT, and business process outsourcing (BPO). Vuong stressed that enhancing English skills would be critical in helping future generations secure higher-income jobs and contribute to the country’s long-term development.
In addition to his focus on education, Vuong also called for an increase in training quotas for technology-related fields such as information technology (IT) and Big Data. By developing a more technologically skilled workforce, Vuong believes Vietnam can bolster its position as a hub for tech innovation and investment. This aligns with the government’s broader strategy to foster growth in high-tech industries and reduce the economy’s reliance on traditional manufacturing and agriculture.
A Shared Vision For Vietnam’s Future
Although Masan and Vingroup are focusing on different sectors, their overarching goal is the same: to elevate Vietnam’s global standing. For Masan, this means leveraging the country’s rich culinary heritage as a way to build international recognition and increase exports. For Vingroup, it involves equipping the population with the skills necessary to thrive in a globalized world, with a particular focus on English proficiency and technological education.
The business leaders’ proposals also come at a critical time for Vietnam. The country’s economy is at a crossroads, with opportunities to become a key player in global supply chains, technology, and culture. However, Vietnam must overcome several challenges, including limited participation in global value chains, underdeveloped infrastructure, and a need for more high-tech industries.
Both Masan and Vingroup recognize the role they can play in addressing these challenges. Masan’s proposal to promote Vietnamese cuisine globally could help diversify the country’s exports, while Vingroup’s focus on education and tech training aims to build a workforce capable of supporting Vietnam’s transition to a more knowledge-based economy.
Why These Business Leaders Are Pushing These Initiatives
Masan and Vingroup’s initiatives are strategic moves designed to ensure their long-term growth while contributing to national development. For Masan, globalizing Vietnamese food products not only taps into a growing global interest in Southeast Asian cuisine but also provides the company with new revenue streams as domestic markets become saturated. By expanding internationally, Masan can diversify its risk and avoid overreliance on the domestic market.
For Vingroup, the push for English education and tech training is about future-proofing Vietnam’s economy. As the country seeks to move up the value chain, having a workforce that is proficient in English and skilled in technology will be crucial for attracting foreign investment and fostering innovation. Vuong’s emphasis on education reflects a broader trend among Vietnam’s top business leaders: the recognition that long-term success depends on building a skilled and globally competitive workforce.
In conclusion, both Masan and Vingroup are looking beyond short-term gains to position themselves—and Vietnam—for sustained success on the global stage. Their proposals highlight the growing influence of Vietnam’s business sector in shaping the country’s future, and their strategies may well prove instrumental in ensuring Vietnam’s continued rise as a global economic and cultural powerhouse.