High-Tech Tops 50% of Exports: Foreign Capital Bets Big on Vietnam

High-Tech Goods Account for More Than Half of Vietnam’s Export Turnover

For the first time, the high-tech commodity group accounted for more than half of Vietnam’s total export turnover. This sector reached 50.76% in the first quarter of 2026. This figure shows that technology has gradually become the “locomotive” driving the entire national economy. It is steadily replacing the dominant role of traditional manufacturing sectors from the past.

This shift takes place as Vietnam’s innovation ecosystem continues to expand. In the Global Startup Ecosystem Index 2026 by StartupBlink, Vietnam climbed five spots to reach 50th globally. This is its highest position ever. The country now counts 963 science and technology enterprises, 20 technology exchange platforms, and 37 innovation centers operating across 26 provinces and cities.

The digital transformation process is also accelerating. As of May 2026, 50.2% of administrative procedures have been made fully available online. In 2025, the digital economy contributed roughly 14.02% of GDP, equivalent to 72.1 billion USD. This demonstrates the increasingly clear impact of technology on economic growth.

For the first time, the high-tech commodity group accounted for more than half of Vietnam’s total export turnover, reaching 50.76% in the first quarter of 2026. | Source: Vietnam Economic Times

In the digital infrastructure sector, Vietnam continues to maintain a high position on global rankings. The nation stands 11th in the world for mobile and fixed broadband Internet speeds. The country currently has 110.5 million mobile broadband subscribers. This includes 24.29 million 5G subscribers, along with 25.62 million fixed broadband subscribers.

Alongside these domestic drivers, Vietnam is expanding international cooperation in innovation and emerging technologies. Initiatives like the Vietnam-India Innovation Forum are helping the industry grow. Furthermore, discussions on 6G technology, unmanned aerial vehicles, and satellite systems are connecting the domestic tech ecosystem with global innovation networks.

VNG Expects Double-Digit Growth Driven by AI

Following its first year of profitability since listing, VNG aims for double-digit growth in 2026. The company is aggressively embedding artificial intelligence (AI) across its entire ecosystem. The Vietnamese tech unicorn expects to achieve net revenue between 12.5 and 13.5 trillion VND. It also targets pre-tax profit from 300 to 450 billion VND. This corresponds to a 15-25% revenue increase and a 15-30% adjusted operating profit growth.

This plan comes as VNG’s business operations continue to improve. In the first quarter of 2026, revenue hit 2,785 billion VND, up 32% year-on-year. Meanwhile, adjusted operating profit surged 154% to 470 billion VND. The enterprise also recorded a net profit for the quarter, continuing the recovery momentum that began in 2025.

In 2025, VNG recorded positive operating profit for the first time since listing on the UPCoM. Financial results turned around from a loss of 286 billion VND to a profit of 57 billion VND. This marks a noteworthy turning point after years of heavy investment in gaming, messaging, payments, and digital infrastructure.

Within VNG’s ecosystem, Zalo continues to maintain its flagship role. The platform hit nearly 80 million monthly active users in 2025. It is also increasingly diversifying its revenue streams. In fact, non-advertising revenue exceeded advertising revenue for the first time. Also in 2025, the number of Zalo OA corporate accounts grew by more than 50%.

VNG Campus Headquarters in District 7, Ho Chi Minh City. | Source: VNG

In the digital payments sector, ZaloPay is drawing closer to its profitability target. 2025 revenue surpassed 1,000 billion VND, a 47% increase from the previous year. Meanwhile, revenue from financial services jumped 413%. The company aims to break even in 2026 and achieve profitability starting in 2027.

AI is viewed as the core focus of VNG’s next growth strategy. Instead of developing AI as a standalone business unit, the company is integrating this technology directly into its core products. These include messaging, payments, gaming, and enterprise solutions. The firm targets a 30% user adoption rate for AI-powered features. Clearly, the enterprise is leveraging AI to enhance the quality of existing products and services across its entire ecosystem.

In parallel, GreenNode is scaling up its international market presence. This unit serves as VNG’s AI infrastructure arm. The unit currently serves more than 1,000 corporate clients across Southeast Asia, the US, and the Middle East. Foreign markets contribute 68% of its total revenue.

Despite improving business prospects, VNG stock still faces low liquidity. The average daily trading volume for the ticker VNZ remains below 1,000 shares.

EQuest Raises 115.5 Million USD Loan

EQuest Education Group has successfully raised a 115.5 million USD foreign syndicated loan. Standard Chartered and CTBC Bank co-led this transaction. The deal saw primary participation from Taiwanese lenders. Notably, lender demand exceeded the initial target size. This reflects strong interest from international financial institutions.

Roughly half of the capital will be used to refinance existing debt. Meanwhile, the remainder will fund expansion plans for the educational system. EQuest stated that the company continues to pursue its core strategy. It focuses on building a proprietary-branded educational platform with certified and quality-assured training programs.

This investment will be used to fund and upgrade the Canadian International School System (CISS)—the largest international K-12 school system in Ho Chi Minh City. | Source: CIS

The deal follows EQuest’s 120 million USD fundraising package in 2023. That package included equity capital from investment fund KKR alongside debt financing. Backed by KKR since 2021, EQuest is currently one of the largest private education platforms in Vietnam.

According to Standard Chartered, the new loan helps EQuest diversify its funding sources. It also reflects lenders’ confidence in the enterprise’s financial capacity. Furthermore, it shows deep trust in the long-term prospects of Vietnam’s education sector. Armed with the new capital, EQuest expects to accelerate its system expansion plans. It will also develop high-quality training programs.