Demography - A Foundation for Corporate Development in Vietnam
On October 9, the University of Social Sciences and Humanities, Vietnam National University Ho Chi Minh City (USSH, VNU-HCM), in collaboration with Asia Commercial Bank (ACB), held an international conference themed “Business Strategy in Vietnam through the lens of Demography” at Diên Hồng Hall, ACB Headquarters.
Attendees included Assoc. Prof. Dr. Huỳnh Thành Đạt, Vice Head of the Central Commission for Propaganda and Education; Mr. Trần Hùng Huy, Chair of the Board of Directors, ACB; Mr. Phạm Phú Ngọc Trai, Chair of PRO Vietnam; Prof. Dr. Ngô Thị Phương Lan, Rector of USSH; Prof. Youngtae Cho, Director, Center for Population Policy Research, Seoul National University (Republic of Korea); leaders of USSH units; and representatives of Vietnamese and Korean enterprises.
Prof. Dr. Ngô Thị Phương Lan in her opening remarks - Photo: LÝ NGUYÊN
In her opening remarks, Prof. Dr. Ngô Thị Phương Lan underscored the role of demography in sustainability. In a globalized context, she argued, demography has become foundational for policymaking, human-resource management, and business strategy planning. “Being able to understand and forecast shifts in population structure, consumer behavior, and household patterns enable firms to identify risks and seize opportunities,” she affirmed, while proposing three takeaways for Vietnamese firms: (1) redefine target customers by life-cycle of households and their structure; (2) orient investment using real-time demographic data; and (3) innovate institutions by translating demographic data into actionable governance.
Mr. Phạm Phú Ngọc Trai speaks at the conference - Photo: LÝ NGUYÊN
Representing corporates, Mr. Phạm Phú Ngọc Trai contended that demographic dynamics are reshaping consumption behavior and business models in Vietnam. “From a corporate perspective, demography is more than just statistics; it tells the story of people, their behaviors, and helps us predict future changes,” he noted. Demographic trends help firms anticipate market shifts and design appropriate product portfolios and development models. Vietnam is transitioning from a labor-driven economy to productivity-driven, which requires close cooperation among universities, industries, and policymakers to ensure inclusive and sustainable development.
Mr. Trần Hùng Huy emphasized the "golden ten years" of Vietnam's demographic structure and the role of cooperation between universities and businesses in taking advantage of Vietnam’s demographic advantages - Photo: LÝ NGUYÊN
From the co-organizer’s perspective, Mr. Trần Hùng Huy emphasized that Vietnam is entering a “golden decade” of demographic advantage. The youthful, dynamic age structure may persist for only about ten more years; “what we do in the next ten years will shape the next fifty,” he stressed. Leveraging demographic knowledge through stronger university-industry partnerships will help convert population advantages into new drivers of economic growth.
Prof. Youngtae Cho presents on demographic change and business strategy in Vietnam - Photo: LÝ NGUYÊN.
In his keynote, Prof. Youngtae Cho (Seoul National University) analyzed how demographic change aligns with business strategy in Vietnam. Shifts in age structure, household size, and urbanization rates are transforming consumer behavior and market composition. Firms must detect “demographic signals” in time to tailor products, services, and policies to specific population segments. Drawing on collaborations with LG Electronics and Hyundai Motor Group, he showed how demographic data can forecast consumption trends, guide product development, and inform R&D planning. Prof. Cho also noted that while Vietnam is enjoying a golden demographic, it must prepare early for rapid aging by balancing productivity with social security and strengthening linkages among universities, businesses, and governmental bodies.
Delegates engage in heated discussion on how to apply demographic data - Photo: LÝ NGUYÊN.
During the discussion, delegates focused on the applications of demographic data in policy design and corporate strategy, praising the reports’ practical relevance and agreeing that tighter connections between academic research and business practice can improve market forecasting and sustainability amid rapid global demographic changes.
Source: NGUYÊN QUYÊN
Translated by: Như Quỳnh Lý
