FORECAST OF ATTRACTIVE SECTORS FOR M&A INVESTORS IN VIETNAM DURING THE 2025–2026 PERIOD.

Introduction
Vietnam is emerging as a strategic destination for mergers and acquisitions (M&A) in Southeast Asia, especially attracting investors from Japan, South Korea, Singapore, and EU countries. The period from 2025–2026 is expected to be a dynamic one with numerous opportunities, thanks to economic recovery, institutional reforms, and global capital flow shifts. However, to seize these opportunities, investors need to understand key sectors and conduct thorough financial and legal due diligence.

1. Technology Sector – Digital Transformation
Sectors such as Artificial Intelligence (AI), FinTech, EdTech, and Software-as-a-Service (SaaS) are rapidly growing in Vietnam due to the explosion in digital consumption and improved technology infrastructure.
However, most startups in this sector are not yet profitable, mainly operating through investment capital. Therefore, during financial due diligence, it is essential to:

• Analyze actual cash flow, not just accounting numbers.

• Assess the burn rate and the ability to raise further capital.

• Carefully review R&D, marketing expenses, and customer growth models.

2. Green Manufacturing – Supporting Industries
The wave of production shifting from China is making Vietnam a new destination for factories, particularly in the supporting industries, renewable energy, and green manufacturing sectors.
This is a high-value sector but comes with significant risks related to assets and legalities. Thus, due diligence should focus on:

• Cross-checking fixed assets with records and current conditions.

• Reviewing environmental licenses and Environmental Impact Assessments (EIA).

• Verifying land use rights, lease terms, and legal usage purposes.

3. Healthcare and Pharmaceuticals
With rapid urbanization, an aging population, and changing consumer habits post-pandemic, the demand for healthcare and pharmaceuticals is increasing, creating opportunities for M&A in this sector.
Key considerations during financial and operational due diligence in this field include:

• Checking inventory values of medicines, shelf life, and consumption capacity.

• Reviewing product circulation licenses, quality declarations, and drug registrations.

• Evaluating dependency on key suppliers or flagship products.

4. High-Tech Agriculture
Vietnam is considered to have significant potential in agriculture, and the high-tech agriculture model is attracting particular interest from Japanese and Israeli investors.
However, this sector often involves specialized assets and complex land ownership mechanisms, so it is necessary to:

• Thoroughly assess investment infrastructure such as greenhouses, smart irrigation systems, and farming technologies.

• Verify land ownership or long-term lease rights, and the possibility of changing land use.

• Analyze operating costs, profitability, and adaptability to weather conditions.

5. Logistics and Warehousing
The rapid growth of e-commerce is driving high demand for infrastructure in warehousing, delivery, and logistics in Vietnam, especially in major cities and industrial zones.
When conducting due diligence for companies in this industry, special attention should be paid to:

• Verifying leased assets (warehouses, trucks, technology equipment) and ensuring they are accurately reflected in financial reports.

• Checking transport licenses, logistics operations, and compliance with traffic industry regulations.

• Assessing the service pricing model, logistics costs per unit, and operational management systems.

6. Conclusion
M&A in the potential sectors in Vietnam during 2025–2026 presents a golden opportunity for investors to enter or expand their market share in a rapidly growing market. However, the key to success is not only selecting the right sector but also conducting comprehensive financial, legal, and commercial due diligence.
As many small and medium-sized enterprises (SMEs) in Vietnam have yet to professionalize their bookkeeping, auditing, or legal records, investors need to:

• Combine comprehensive financial, legal, and operational due diligence processes.

• Prioritize digital models to support quick analysis and reduce risks.

• Design multiple protective clauses in M&A contracts to safeguard interests.

7. How ALTAS Can Support
ALTAS LAW offers comprehensive legal, accounting, and tax service packages designed to support businesses during this transition period:

• Accounting and Tax Services: We provide accounting and tax services to help your business manage the financial impacts of these reforms, including tax planning, reporting, and compliance.

• Licensing & Regulatory Compliance: We will meticulously review your current licenses and permits, advise on necessary amendments or renewals, and guide you through the process of obtaining any new approvals. Our team will also ensure that you comply with all related regulatory changes.

Please contact us via email at contact@altas.vn to discuss how we can help you navigate these reforms successfully.

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Prepared by:
Lawyer Partner at ALTAS Law - Mr. Le Quang Lam & Managing Director at ALTAS Accounting - Ms. Nguyen Nhac Thien An   
Date: August 11, 2025

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