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. |
