Abstract

Vietnam’s expanding economy continues to attract Japanese companies and foreign investors seeking new business opportunities. While secondary research provides essential information on industry trends, competition, and regulations, many practical business questions require insights from people directly involved in the industry. This article examines the limitations of conventional market research, explains how industry experts contribute to a deeper understanding of Vietnam’s business environment, and discusses how companies can integrate expert knowledge into market entry and expansion strategies.

Vietnam’s Market Potential and the Growing Need for Local Market Understanding

Vietnam has maintained strong economic growth, reinforcing its position as an attractive destination for international businesses. According to the National Statistics Office, Vietnam’s GDP increased by 9.01% year on year during the first nine months of 2026, supported by expansion in manufacturing, construction, and services[i]. This positive outlook is also reflected in Japanese companies’ investment intentions. JETRO’s FY2025 Survey on Business Conditions of Japanese Companies Operating Overseas reported that 56.9% of responding Japanese companies in Vietnam planned to expand their businesses within the following one to two years, the highest proportion among ASEAN countries for the second consecutive year[ii].

Expansion Outlook of Japanese Companies in Vietnam, FY 2025

Source: JETRO, FY2025 Survey

Despite these opportunities, foreign companies continue to face challenges in understanding and navigating the local business environment. In the same JETRO survey, 67.5% of respondents identified complicated administrative procedures as an investment risk, while 58.7% cited underdeveloped legal frameworks or unclear implementation. These findings suggest that favorable market conditions do not necessarily translate into straightforward business opportunities. For companies considering market entry, decisions regarding customers, business partners, and operating models require more detailed information than overall economic indicators can provide.

Combining Secondary Research and Industry Expert Interviews for Better Market Insights

Secondary market research provides an essential foundation for foreign companies evaluating business opportunities in Vietnam. However, publicly available information may not fully reflect customer behavior, competitive dynamics, or practical business conditions. Industry expert interviews can complement secondary research by providing firsthand insights that help companies assess the commercial and operational feasibility of potential opportunities.

The two approaches can be compared across six distinct areas of market assessment

Table: Comparison of Secondary Market Research and Industry Expert Interviews

Source: B&Company’s synthesis

Secondary research and industry expert interviews complement each other in assessing market opportunities and feasibility. While secondary research provides broad, cost-effective insights into market trends, potential customers, and business partners, expert interviews offer practical perspectives on purchasing behavior, technical requirements, partner capabilities, and operational challenges. For example, a Japanese industrial equipment manufacturer entering Vietnam can use secondary research to identify promising sectors and potential partners, while expert interviews help evaluate customer needs and partner suitability. Combining both approaches enables companies to validate market assumptions, address information gaps, and make more informed market entry and business development decisions.

How B&Company Can Support

Established in Vietnam in 2008, B&Company is a Japanese market research and consulting firm with extensive experience in supporting foreign businesses across various industries, including retail, food processing, textiles and garments, and manufacturing.

B&Company provides end-to-end market research and industry interview services, covering the identification of relevant companies, development of potential customer and partner lists, screening and selection of interview targets, and direct outreach to arrange interviews. The company conducts interviews with industry experts, business executives, procurement managers, technical specialists, and potential business partners to gather firsthand insights into market conditions, customer requirements, purchasing practices, competitive dynamics, and business cooperation opportunities. Findings are then consolidated and analyzed in comprehensive reports, providing practical insights and recommendations to support market entry, partner selection, and business development decisions in Vietnam.

Leveraging its local market knowledge and experience in stakeholder engagement, B&Company helps foreign businesses access industry information that may not be readily available through secondary research. The following table presents selected examples of B&Company’s previous projects involving industry interviews and stakeholder engagement.

Source: B&Company’s synthesis

These examples demonstrate B&Company’s ability to engage with diverse industry stakeholders and gather practical insights that help foreign businesses better understand Vietnam’s market conditions and make informed business decisions.

Conclusion

Vietnam’s continued economic growth presents significant opportunities for foreign businesses, but successful market entry requires more than an understanding of market size and industry trends. While secondary research provides a foundation for evaluating market potential, industry expert interviews offer practical insights into customer requirements, competitive dynamics, and operational challenges that may not be fully reflected in published data. By integrating expert perspectives with reliable market information, companies can better validate business assumptions, assess potential partners, and identify risks before making investment decisions. As Vietnam’s business environment becomes increasingly competitive and complex, combining data-driven analysis with local industry expertise will be essential for developing effective market entry strategies and supporting sustainable business growth.

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[i] https://www.nso.gov.vn/bai-top/2026/10/bao-cao-tinh-hinh-kinh-te-xa-hoi-quy-iii-va-9-thang-nam-2026/

[ii] https://www.jetro.go.jp/biz/areareports/2026/21fcf2689cf256b0.html

[iii] https://b-company.jp/business-support-for-interviewing-high-tech-start-up-in-south-vietnam/

[iv] https://b-company.jp/business-support-for-interviewing-vietnamese-scallop-processing-companies/

[v] https://b-company.jp/research-on-bipv-market-in-vietnam/

[vi] https://b-company.jp/survey-on-construction-work-of-ventilation-in-vietnam/

[vii] https://b-company.jp/projects/vietnam-mobile-payment-market-towards-a-data-society/#1505213340042-adbbb814-1861