By Khoi Dang

East Asia Forum-Sept 11, 2026

Vietnam’s rapid headline growth is driven almost entirely by foreign‑invested and government‑favored conglomerates, leaving domestic small-to-medium enterprises and workers behind. Foreign-invested enterprises dominate exports and rely on low‑wage assembly labor, limiting technology transfer and local upgrading. Policy support for national champions further squeezes household businesses, producing a K‑shaped economy where prosperity concentrates at the top and everyday Vietnamese see little benefit. Read more at: https://eastasiaforum.org/2026/09/11/vietnams-k-shaped-economic-boom/  First published in East Asia Forum