Not chasing revenue, businesses choose to build a platform
In the context of Vietnam setting a target of GDP growth of 10% in 2026 and double-digit growth in the 2026-2030 period, many businesses are promoting production expansion and seeking new orders. However, for Dony Garment Co., Ltd., the biggest goal this year is not to increase revenue at all costs, but to build a solid foundation for sustainable growth in the coming years.
Talking to Lao Dong Newspaper, Mr. Pham Quang Anh - Director of Dony Garment Co., Ltd. - said that after many years of large dependence on the export market, the enterprise has proactively adjusted its strategy to reduce risks in the face of increasingly unpredictable fluctuations in the world economy and geopolitics.
Previously, export revenue accounted for nearly 90% of the company's total revenue. This once brought advantages when the international market grew well, but also made businesses vulnerable when geopolitical conflicts, trade policies or logistics costs changed suddenly" - Mr. Quang Anh shared.
According to Mr. Quang Anh, in recent years, global fluctuations have occurred at a very fast pace. If previously businesses had a few months, even years to adapt to a new policy, now many trade decisions take effect almost immediately. Therefore, Dony decided to restructure the market, gradually increasing the proportion of revenue from the domestic market instead of being too dependent on exports. "We no longer absolutely prioritize export orders as before. In conditions of limited capacity, businesses are willing to prioritize domestic customers, and at the same time provide more preferential policies on prices, delivery schedules and services to develop the domestic market" - Mr. Quang Anh said.
Thanks to this adjustment, the proportion of revenue from the domestic market has increased from about 10% to more than 20%, contributing to compensating for the decrease in export orders in the context of weak global demand. It is noteworthy that although revenue growth is not set at all costs, in the first 6 months of the year, business revenue still increased by about 6%, while the number of orders increased by over 20% compared to the same period last year.
According to Mr. Pham Quang Anh, most new orders were signed in May and June, so revenue will be recorded in the third quarter and the last months of the year. If market developments are favorable, revenue for the whole year may increase by 10-15%.
Vietnam's GDP growth target of 10% does not only depend on whether businesses expand their scale or chase after revenue, but more importantly on their resilience and good adaptation to market fluctuations. Healthy businesses will make the economy healthy. When each business improves its internal strength, diversifies the market and develops sustainably, that is also the most practical way to contribute to the high growth target of the economy" - Mr. Quang Anh emphasized.
Reduce lending interest rates, connect FDI with domestic enterprises to create motivation
Based on the results of GDP growth in the second quarter and 6 months, the Statistics Office said that to achieve the growth target of 10% for the whole year 2026, the last 6 months of the year need to reach 11.7%. Talking to Lao Dong Newspaper about the results of the first 6 months of the year, Dr. Huynh Thanh Dien - economic expert, lecturer at Nguyen Tat Thanh University - said that it is not necessary to create pressure to achieve the growth target of 10% this year.
More importantly, it is necessary to build a solid foundation to maintain high growth in the following years. It is necessary to prepare long-term conditions to create a solid foundation for the next years of high growth" - Dr. Huynh Thanh Dien emphasized.
In the second half of the year, Dr. Huynh Thanh Dien said that it is necessary to continue to improve the business environment in a substantive way, strongly shift from pre-inspection to post-inspection and cut unnecessary business conditions. It is necessary to create conditions for businesses to feel that investing capital, entering the market or withdrawing from the market are both favorable. Then, new capital flows will flow strongly into production and business.
Next, it is necessary to reduce capital costs, especially loan interest costs. The government can assign appropriate profit targets to state-owned banks, focusing on controlling costs well instead of focusing on profits.
In addition, promote connections between domestic enterprises and FDI enterprises to form a production ecosystem. The Politburo has just issued Resolution No. 10-NQ/TW, dated June 8, 2026 on economic development with foreign investment capital. On that basis, it is necessary to orient FDI attraction into industries that have the potential to create spillover effects, create jobs and promote domestic enterprises to participate in the supply chain. At the same time, there should be preferential mechanisms for FDI enterprises linked to domestic enterprises, as well as supporting domestic enterprises to produce products to supply to the FDI sector.
I emphasize this because currently most of the export turnover comes from the FDI sector. However, this sector also imports a lot of raw materials and components for production and export. This is a great room for domestic enterprises to participate in production, replacing imported goods" - Dr. Huynh Thanh Dien said.
Regarding public investment, Dr. Huynh Thanh Dien said that it is necessary to continue to reform procedures, improve planning, prioritize highly feasible projects and especially promote public-private partnerships (PPP) to mobilize more social resources.
