Following a solid 2025, real estate companies have set optimistic targets for 2026, particularly with profit expectations projected to grow strongly – some even aiming to double compared to the previous year.

Khang Dien House Trading and Investment JSC is among the real estate firms that announced its 2026 plan early.

During a briefing with investors and shareholders in January, the company’s leadership said it expects net profit to reach $80 million this year, double the level in 2025.

Many firms look for upbeat business picture in 2026

The main growth driver will come from the Gladia by the Waters high-end villa project, covering 11.8 hectares on Vo Chi Cong street in Binh Trung ward, Ho Chi Minh City.

The scheme is a joint venture with Keppel, a major developer from Singapore, in which Khang Dien holds a 51 per cent stake.

The company expects to complete sales and count profits from low-rise products at this venture while continuing to sell remaining inventory from several existing developments in Ho Chi Minh City.

Another real estate developer, Taseco Land, also expects strong business growth in 2026.

Specifically, Taseco Land targets revenue of approximately $480 million and after-tax profit of about $120 million. These figures are respectively three times and five times higher than its results in 2025.

According to analysts at Viet Dragon Securities, the real estate sector is expected to record outstanding growth this year.

In addition to the assumption of cyclical asset price increases, the resolution of legal bottlenecks over the past two years has allowed many projects to resume construction and sales in 2025, laying the groundwork for continued sales, handovers, and revenue recognition in 2026.

Profits across the real estate sector are estimated to grow by around 26.1 per cent on-year.

Alongside property developers, several major players in the retail and consumer sectors have also set new ambitious targets, reflecting confidence in the market’s recovery in 2026.

For instance, consumer electronics major Mobile World Investment Corporation (MWG) has scheduled its 2026 AGM for April 18, where the company’s annual business plan will be submitted for shareholder approval.

Earlier, according to a resolution of its board of directors, MWG set 2026 targets of about $7.4 billion in net revenue and about $368 million in consolidated after-tax profit. These figures represent increases of 18 per cent and 30 per cent, respectively, compared to the previous year.

Within MWG’s strategic orientation, the Dien May Xanh chain will remain a key pillar, expected to contribute about 65 per cent of revenue and 80 per cent of profit.

Meanwhile, the food and consumer goods retail segment – operated through the Bach Hoa Xanh chain – is projected to account for roughly 30 per cent of revenue and nearly 20 per cent of profit.

At FPT Digital Retail JSC, the company’s profit target is also set to rise 27 per cent compared with its 2025 performance, aiming for earnings of around $62 million. The Long Chau Pharmacy network continues to play a key role as the primary profit driver, leading the company’s growth momentum.

Alongside ambitious revenue and profit targets, a series of major deals are also expected to enter the market this year through IPO plans.

One of the most notable is the IPO plan from MWG. It intends to launch an IPO for the Dien May Xanh chain and list its shares in 2026, followed by an IPO of the Bach Hoa Xanh chain two years later.

Another IPO plan comes from a subsidiary of steel major Hoa Sen Group. The company is planning to list the Hoa Sen Home chain, which specialises in distributing construction materials and interior products.

At the same time, a subsidiary operating in plastics and steel pipes – Hoa Sen Plastics – is also included in the parent company’s IPO roadmap.

In the securities sector, following IPO deals by VPS Securities, VPBank Securities, and Techcom Securities at the end of 2025, shareholders of LPBank Securities have recently approved a new IPO plan.

Specifically, LPBank Securities plans to offer more than 141.86 million shares, equivalent to 11.19 per cent of its outstanding shares, at a price of about $1.2 per share.

The IPO is expected to take place in 2026. Upon completion, the company’s charter capital will increase to approximately $560 million, and its shares will be listed on the Ho Chi Minh Stock Exchange.

If these plans proceed as scheduled, 2026 could mark a stronger phase for Vietnam’s listed corporate sector while supporting a broader recovery in the stock market.

Higher 2026 growth target puts pressure on credit framework Vietnam’s credit growth framework is set to face mounting pressure as policymakers pursue a significantly higher economic growth target in 2026.

2025 profits mixed amid strong energy and farming results Corporate earnings in 2025 showed a sharp divergence, with energy and agriculture companies posting strong profit growth, while several firms in other sectors fell short of annual targets.

New tax incentives to benefit startups and SMEs Newly-issued Decree 20 introduces a package of tax exemptions and reductions, creating a more favourable legal and financial environment for startups and small and medium-sized businesses.

On February 23, Masan announced Phuong’s appointment, effective immediately, with responsibility for leading the performance of its Convenience Foods and Bottled Beverages segments, with the following strategic priorities:

1. Targeting 20 per cent revenue growth for the business unit.
2. Transforming the instant noodle category into a comprehensive meal platform, expanding value from individual products to an integrated convenient meal ecosystem serving both domestic and international markets.
3. Leading the ‘Win Every Drink Occasion’ strategy, developing and scaling core brands such as Wake-Up 24/7 across the portfolio.
4. Implementing the Digital 4P model by leveraging data and technology to enhance marketing, sales, distribution, and portfolio management efficiency, while accelerating execution of the company’s Go Global strategy.

This year marks a pivotal point in aligning the company’s ‘Retail Supreme’ direct distribution model with personalised digital marketing strategies. The integration unlocks the full potential of the Digital 4P model and builds momentum for the company’s next phase of growth.

Before her appointment, Phuong served as senior marketing director of the Convenience Foods category at Masan Consumer. Having joined the company in 2010, she has accumulated over 16 years of experience and development within the organisation, directly leading one of Masan Consumer’s core business pillars.

She has been a key driver in the expansion and repositioning of the OMACHI brand, transforming it from a traditional instant noodle brand into a premium and innovative convenience food franchise. Flagship product lines such as self-heating rice, self-heating hotpot, and the Asian street food concept ‘Quan Xa Chau A’ reflect the brand’s evolution in response to modern consumption trends and increasingly sophisticated consumer experiences.

Danny Le, chairman of Masan Consumer, said, “We strongly believe in building a next generation of young leaders who deeply understand the new-era consumer, harness the power of technology, and have deep knowledge of FMCG brand building fundamentals. The appointment of Nguyen Truong Kim Phuong marks an important milestone in our journey to build a successful Consumer-Tech organisation, thereby accelerating our mission: ‘At least one Masan’s product in each and every household globally.”

We are committed to building a next generation of young leaders who understand modern consumers, harness technology, and uphold the fundamentals of the fast-moving consumer goods industry. Phuong’s appointment marks a significant step in building a consumer-tech organisation and accelerating our mission to place at least one Masan product in every household globally.”

Masan Consumer is targeting projected revenue of between VND33.8 and VND35 trillion ($1.30-$1.35 billion) for 2026, alongside continued profit improvement through enhanced operational efficiency and portfolio optimisation.

Phuong’s appointment signals Masan Consumer’s focus on strengthening leadership for its next growth phase, while reinforcing the company’s position as a talent incubator for Vietnam’s fast-moving consumer goods sector.

Masan posts steady gains as Vietnam targets stronger retail growth Vietnam’s push for stronger retail growth by 2030 is being matched by improving performance in the country’s major consumer groups.

MCH to become the largest consumer stock on VN-Index Securities firm Vietcap has assessed the prospect of Masan Consumer (MCH) on listing on the Ho Chi Minh City Stock Exchange (HSX) on December 25.

Masan Consumer officially lists on HSX, marking the next phase of value creation On December 25, Masan Consumer Corporation (HSX: MCH) officially listed its shares on the Ho Chi Minh Stock Exchange (HSX), a pivotal milestone in its strategic growth and value creation roadmap.

On February 24, Ho Chi Minh City Steering Committee for Science, Technology, Innovation, and Digital Transformation announced a plan to implement Politburo Resolution 57, which focuses on national development in these fields. The initiative sets out the city’s priorities for 2026.

Ho Chi Minh City taps digital economy to power post-merger growth. Photo: Le Toan

The focus will be on completing digital infrastructure, data infrastructure, and cybersecurity; ensuring 5G coverage reaches 95 per cent of the population, and 100 per cent in major urban areas, science and technology zones, industrial parks, high-tech zones, seaports, airports, and logistics centres. It will also research, develop, and pilot 6G technology in some areas of Ho Chi Minh City.

The city will accelerate digital transformation in state management, provide full-process online public services; improve the quality and efficiency of digital government operations, and move towards a comprehensive digital government.

The plan also clearly defines the development of high-quality workers, especially in the fields of digital technology and high technology, and enhancing digital capabilities for officials, civil servants, and public employees.

Regarding priority tasks and solutions to be implemented in 2026, Ho Chi Minh City will continue to review and improve mechanisms, policies, and laws; remove all barriers hindering the development of sci-tech and digital transformation, and turn institutions into competitive advantages.

Additional measures include establishing venture capital funds, creating pilot mechanisms for new technology testing, and offering preferential policies to engage high-tech businesses, startups, and foreign investment.

A specific public procurement mechanism will be proposed, prioritising speed, technological relevance, and risk acceptance mechanisms to address current public procurement delays. Simultaneously, a mechanism for commercialising research results and intellectual property using the state budget will be piloted.

The city will also strengthen investment in infrastructure for unmanned aerial vehicles used in logistics and urban surveillance, while working to attract and retain high-quality talent to meet the demands of scientific development, innovation, and digital transformation.

Efforts will focus on promoting digital technology, big data, and shared platforms to address pressing urban issues, including traffic congestion, flooding, environmental pollution, and building a drug-free civilised city.

A project to connect technology exchange platforms across the Southeast region is also planned, aiming to form a linked sci-tech market. Priority will be given to commissioning tasks that tackle challenges in high-tech agriculture, agricultural product processing, environmental protection, health, education, culture, and tourism.

Programmes related to strategic technologies will adopt a three-party model, bringing together domestic and international experts, scientists, chief engineers, and chief architects to participate in research and development.

Ho Chi Minh City backs $2 billion AI data centre with dedicated task force Ho Chi Minh Cityis stepping up efforts to position itself as a regional AI and data centre hub, pledging strong institutional support for a flagship foreign-invested project worth nearly $2 billion.

Ho Chi Minh City starts construction of four key infrastructure projects Ho Chi Minh City commenced construction and held ground-breaking ceremonies for four key infrastructure and transport projects on January 15 with a combined investment of nearly VND240 trillion (more than $9.2 billion).

Vietnam sets sights on Ho Chi Minh City’s transformation into a global financial hub by 2030 Vietnam established a steering committee, led by Deputy Prime Minister Le Minh Khai, on October 6 to guide the development of a new international financial hub, underscoring its ambition to elevate its global financial stature.

The seafood industry endured a tough year amid global economic volatility and mounting barriers from the US market, including reciprocal tariffs and anti-dumping tax risks.

Many businesses are accelerating operations early year

Rather than waiting for calmer seas, companies proactively shifted direction, crafted adaptive strategies, and ultimately navigated their way through adversity.

A case in point is Mekong Fisheries JSC, which returned to profitability despite a challenging export environment throughout the past year.

Although the company recorded a loss in the fourth quarter of 2025, its full-year performance remained positive.

The company’s revenue approximated $6.82 million, up 11 per cent on-year, while after-tax profit amounted to $72,000, showing a turnaround from a loss of around $252,000 in the previous year.

The company leadership explained that in Q4, 2025, Mekong Fisheries refrained from transporting farmed raw materials to its processing plants. Instead, it sold raw Basa fish directly and generated additional income from fixed-term bank deposits.

In the building materials sector, particularly cement, 2025 brought a reversal of fortune. In 2024 state conglomerate Vietnam National Cement Corporation (Vicem) reported a loss approximating $55 million, marking its second consecutive year in the red due to declining cement demand and a sluggish market.

At the year-end 2025 review meeting in late December, Ngo Duc Luu, acting general director of Vicem, reported that the company’s total revenue came to around $1.15 billion, up 5.1 per cent on-year and fulfilling the annual target.

Its pre-tax profit approximated $11.4 million, more than tripling its plan.

During the year, Vicem’s total cement and clinker consumption reached 25.87 million tonnes, exceeding the annual plan by 4.2 per cent and surging 8.5 per cent on-year.

In agriculture, 2025 was fraught with hardship as natural disasters and floods struck multiple localities, severely affecting agricultural production nationwide.

These developments directly affected the local fertiliser industry, leading to declining consumption. In addition to weakening demand, domestic producers faced mounting competitive pressure from low-cost imported fertilisers flooding in from neighbouring markets. Such challenges served as a stress test, compelling enterprises to adapt swiftly.

PetroVietnam Ca Mau Fertiliser (PVCFC) was no exception. Yet, the company overcame these trials and achieved record-breaking revenue approximating $692 million, surpassing its plan by 9 per cent and up 24 per cent on-year.

PVCFC successfully activated two high-value business segments – NPK fertiliser and proprietary trading – while optimising its supply chain. Notably, NPK output exceeded 240,000 tonnes in 2025, up 36 per cent on-year.

The company expanded its role from a pure manufacturer to a market coordinator, leveraging its logistics system, warehouses, and distribution network to distribute goods more efficiently, optimise fixed costs, and enhance its ability to meet diverse market demands.

Entering 2026 – the first year of the new 2026-2030 growth cycle – many business leaders have already mapped out early acceleration plans for their enterprises.

Accordingly, Le Viet Hai, chairman of Hoa Binh Construction JSC shared ambition to restore the company’s position as a leading construction contractor.

Over the past three years, Hoa Binh Construction has gradually overcome difficulties through restructuring efforts, streamlining its organisational apparatus, and optimising operational processes.

Encouraging signs of recovery in the real estate market, together with vibrant public investment activity, have brightened prospects for the company.

In 2026, Hoa Binh has set ambitious targets of reaching approximately $40 million in revenue and around $10 million in after-tax profit, marking a return to four-digit revenue figures after several years.

The company has recently established a branch in Israel, underscoring its determination to expand into global markets.

Meanwhile Khang Dien House Trading and Investment JSC expects to accelerate sharply this year, targeting a doubling of profit to approximately $80 million.

Three major growth drivers are set to power Khang Dien’s momentum in 2026.

First, the Gladia by the Waters project – an 11.8-hectare villa development located in Ho Chi Minh City, developed in partnership with Keppel- a major partner from Singapore, in which Khang Dien holds a 51 per cent stake – is expected to complete sales this year.

Second, the company will continue selling remaining inventory from its existing projects in Ho Chi Minh City.

Third, Khang Dien anticipates positive cash flow and profit contributions from investment cooperation and joint venture opportunities scheduled for implementation in 2026 with both domestic and international partners. 2026-2027 has been identified as a strategic phase for Khang Dien to accelerate new projects, supported by a total land bank exceeding 150 ha in Ho Chi Minh City.

As for Vicem, the company aims to secure a 28-30 per cent share of the domestic cement market by 2030. Achieving double-digit growth this year is considered the first building block in realising that long-term objective.

During 2026-2030, Vicem aspires to become a strong brand within Vietnam’s cement industry, equipped with advanced technology, a modern governance model, and the capacity to compete both regionally and internationally.

Businesses ramp up production as year-end orders surge A recovery in consumer demand has driven a sharp rise in orders towards the year-end period, prompting many businesses to accelerate production and expand investment, while still maintaining caution over purchasing power and overall market prospects ahead of the Lunar New Year.

Vietnamese businesses diversify amid global trade shifts Domestic companies are increasing diversification across Southeast Asia while expanding into Latin America and other global markets, unlocking new growth opportunities amid a changing global trade landscape.

Temporary relief for food imports as businesses urge overhaul of regulations The government’s Resolution No.09/2026/NQ-CP has given businesses short-term breathing space by clearing stalled food shipments, yet deeper reforms are still needed to prevent a repeat of costly port congestion.

Authorities issued a cautionary notice to help export-import and logistics businesses stay prepared amid evolving global developments. Photo: Le Toan

Official Dispatch No. 229/XNK-TLH, dated March 1, 2026, states that on February 28 marked a serious escalation of tensions in the Middle East and created “serious instability” and posed high risks to transportation activities, international trade and global supply chains.

The agency warned that prices of consumer goods, fuel, and global oil are forecast to rise, generating “indirect and multi-dimensional negative impacts” on Vietnam’s production and export-import activities, as well as on trade with the Middle East.

For logistics services, rising fuel costs are expected to push up sea freight and air cargo rates, particularly on routes connecting Vietnam with countries in the region.

According to the dispatch, several Middle Eastern countries have restricted or closed their airspace due to security concerns, forcing passenger and cargo flights to reroute, prolonging flight times and increasing logistics costs.

Maritime transport has also been significantly affected, as shipping through the Strait of Hormuz has nearly stalled following airstrikes. Iran has warned that passage through the strait is currently unsafe, compelling shipping lines to avoid the area or alter routes, thereby extending transit times and raising fuel expenses.

“Before the above situation, the Agency of Foreign Trade requests export-import industry associations and logistics associations to closely monitor developments,” it said.

Associations are asked to regularly coordinate with relevant state management authorities to provide updates to member enterprises, enabling them to adjust production plans, export-import arrangements, and transport operations.

The agency emphasised the need to “avoid disruptions and minimise negative impacts” from the conflict, while improving flexibility and resilience against fluctuations in the international business environment.

In addition, associations and enterprises are urged to “regularly and proactively analyse and coordinate information” with ministries and relevant agencies regarding trade data, domestic policy changes affecting business operations, cargo flows, freight rates, and surcharges, to prepare appropriate response scenarios for similar situations in the future.

They are also advised to develop preventive and adaptive plans to mitigate risks, losses, and disruptions in international trade and transport activities, and to prepare timely response measures to limit impacts on supply chains.

The dispatch further encourages frequent engagement with relevant MoIT units, including trade promotion and overseas trade offices, to identify new orders and potential markets, thereby formulating alternative or prioritised exploitation plans to “maximise opportunities”.

The agency said that close coordination among associations, enterprises, and authorities would be essential to strengthening resilience and safeguarding Vietnam’s export-import activities amid growing geopolitical uncertainty.