Vietnam Corporations Restructure and Accelerate Digital Transformation in 2025

Major Corporations Driving Digital Transformation

Vietnam’s top corporations are making bold digital investments to expand infrastructure, enhance competitiveness, and capture new market opportunities.

• VNPT has invested over VND 4,000 billion in cloud computing, cybersecurity, and AI-driven digital infrastructure nationwide.
• Petrovietnam (PVN) allocated VND 5,200 billion toward digital oilfield technologies and renewable energy initiatives, aligning with its green energy transition.
• Viettel Group committed more than VND 6,000 billion to 5G networks and AI-powered platforms, positioning itself as a leading digital services provider in Southeast Asia.
• FPT Corporation invested over VND 3,500 billion to expand into AI, cloud computing, and IT outsourcing, further cementing its role as a digital transformation leader.

Key Corporate Projects

• FPT Corporation: Building on 2024 revenues of US$2.47 billion, FPT launched two AI Factories in Vietnam and Japan, powered by NVIDIA, and a US$174 million AI center in Bình Định province for R&D and digital services.
• CMC Corporation: Developing a US$250 million data center in Ho Chi Minh City, with capacity scalable from 30 MW to 120 MW, supporting Vietnam’s growing AI and cloud demand.
• VinFast (Vingroup EV arm): Founder Pham Nhat Vuong injected US$1.52 billion through the acquisition of Novatech (its R&D subsidiary), while also opening a US$500 million EV plant in India with an annual capacity of up to 150,000 vehicles.
• Viettel Digital: Formed strategic partnerships with Visa (digital payments) and InnoSynthex (cybersecurity solutions for Europe).
• Vietnam Rubber Group (VRG) and SATRA: Upgrading e-Office systems and mapping sustainable digital development roadmaps for 2025–2030.
• State-owned banks & fintech players: Vietcombank, BIDV, Techcombank, VPBank, TPBank, alongside fintech leaders MoMo and MISA, showcased their digital strategies at the 2025 Banking Digital Transformation Forum.

Key Leadership Restructuring in 2025

Corporate governance in Vietnam experienced sweeping changes in 2025, particularly in CEO and Board Chair positions, reflecting both compliance with governance standards and strategic leadership renewal.

Market-Wide Movement (Oct 2024 – Mar 2025)

• 32 listed companies replaced their Board Chairs.
• 48 companies appointed or replaced CEOs.

Notable Leadership Transitions

• Vinaseed (NSC): Chairwoman Trần Kim Liên resigned; Nguyễn Thị Trà My succeeded her in February 2025.
• Đức Giang Chemicals (DGC): CEO Đào Hữu Duy Anh transitioned to Vice Chairman; Lưu Bách Đạt became CEO for a 5-year term.
• Gelex (GEX): Nguyễn Văn Tuấn resigned as Board Member to focus on the CEO role exclusively.
• Rạng Đông Holding (RDP): Entire Board, including Chair Hồ Đức Lam, resigned ahead of the 2025 AGM amid financial distress.
• REE (Cơ Điện Lạnh): Former CEO Huỳnh Thanh Hải left the Board in February 2025.
• L40 (Đầu tư & Xây dựng 40): Chair Lê Đình Hiển and several board members resigned, alongside CEO Nguyễn Văn Sơn.
• Vinamilk (VNM): Independent Board Member Lee Meng Tat (Singapore) resigned following shareholder restructuring.
• Bamboo Capital (BCG): Chair and CEO Nguyễn Tùng Lâm resigned after less than a year in the role.
• TNG Investment (TNG): CEO Nguyễn Đức Mạnh was replaced by Deputy CEO Trần Minh Hiếu in April 2025.
• THACO: CEO Phạm Văn Tài stepped down; Chair Trần Bá Dương reassumed the CEO role, supported by three new Deputy CEOs and a workforce expansion to 77,161 employees.

Major M&A and Acquisition Deals in Vietnam – 2025

Vietnam’s M&A market remained vibrant in 2025, with multi-billion-dollar deals reshaping industries from energy to retail.

Energy & Natural Resources

• EnQuest (UK): Acquired a 53% stake in Chim Sao & Dua offshore fields for US$84 million.

Automotive & Technology

• VinFast: Acquired Novatech (R&D subsidiary) in a US$1.52 billion deal, reducing financial pressure while licensing IP back.

Real Estate & Infrastructure

• Trump Organization: Approved US$1.5 billion golf-resort project in Khoai Châu, northern Vietnam, set for 2025–2029 development.
• Becamex IDC & Kim Oanh Group: Transferred Binh Duong mega-projects worth over US$900 million combined to foreign investors.

Banking & Finance

• Commonwealth Bank of Australia: Sold its final 4.4% stake in VIB Bank for US$106.7 million, exiting Vietnam.

Agribusiness & Livestock

• BAF Vietnam: Acquired Tuyet Hoa Dak Lak and expanded its portfolio in livestock farming operations.

Digital & E-commerce

• OnPoint: Acquired 51% of Crea (Thailand), enhancing regional digital commerce capacity.
• Rounds: Invested US$20 million in acquiring non-gaming Vietnamese apps and studios.

Pharma & Healthcare

• Kirin Capital, Blooming Earth, Asia Top Picks: Expanded investments in TNH Hospital Group, contributing to US$508 million in healthcare M&A across 11 deals.
• Lotus Pharma (Taiwan): Purchased Sanofi’s Alpha Choay® for US$50 million.

Consumer & Industrial

• Masan Group: Bought US$200 million shares in VinCommerce from SK Group, strengthening its retail ecosystem.
• VinFast: Consolidated operations by acquiring VinES Energy Solutions for US$440 million.

Vietnam’s 2025 corporate restructuring and digital transformation wave signals a new era of competitiveness. With massive investments in AI, green energy, and cloud infrastructure, alongside sweeping leadership changes and robust M&A activity, Vietnam’s business ecosystem is poised to integrate deeper into global value chains.