This perspective was highlighted at the 2nd Capital Economic Forum (CEF 2026) held in Hanoi on August 27 under the theme “Connecting SMEs - Driving M&A, Investment, and Cooperation to Enhance Localization and Integration into Global Value Chains.”
The event brought together leading financial experts and business association leaders to offer multidimensional insights into current market conditions, emerging opportunities, and actionable roadmaps for the domestic business community.
Addressing the forum, Prof. Dr. Mac Quoc Anh, Vice President and General Secretary of the Hanoi Association of Small and Medium Enterprises (HANOISME), noted that the core challenge facing local SMEs extends beyond a simple lack of capital. It lies in limited access to strategic partners, advanced technology, modern corporate governance standards, and global distribution networks.
He emphasized that enterprises growing in isolation will struggle to achieve breakthroughs in scale and market competitiveness.
According to him, to solve this dilemma, SMEs must prioritize three main pillars: moving beyond a reliance on short-term bank credit to access medium- and long-term capital, equity financing, and M&A; satisfying stringent localization requirements while accelerating digital and green transitions (ESG compliance); and proactively standardizing products to penetrate international markets.
Offering a macroeconomic financial perspective, Mr. Pham Duc Dung, Director of the M&A & Restructuring Center at Saigon - Hanoi Securities Joint Stock Company (SHS), pointed out a major paradox in the Vietnamese economy.
Despite maintaining an impressive GDP growth rate above 8 percent in the first half of this year, among the highest in the region, and keeping inflation well-controlled at around 3 percent, capital market penetration remains comparatively low. Stock market capitalization to GDP currently stands at approximately 75 percent, which is lower than that of regional peers, he added.
This structural gap underscores the immense untapped potential for equity investment, corporate restructuring, and M&A transactions. By leveraging strategic mergers and capital partnerships, Vietnamese businesses can bridge financing gaps, absorb advanced management practices, and build the resilience required to participate directly in global value chains.
At the forum, the Organizing Committee launched its official website, cefhanoi.vn. Designed as a continuous digital platform for the business community, the site goes beyond event details to let enterprises register B2B needs, explore M&A and capital opportunities, and find partners or suppliers. Submissions on the platform will be systematically categorized, connected, and monitored following the event.
Through this initiative, CEF is evolving from a periodic conference into a regular, measurable resource-connection ecosystem for local businesses.
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