Exchange rate, interest rate and energy price volatility is putting pressure on businesses' production costs, cash flows and competitiveness. VCCI and the Party Central Committee’s Commission for Policy and Strategy held a forum in Hanoi on October 30.
Representatives of the State Bank of Vietnam, financial institutions, economists, industry associations and more than 100 delegates assessed risks to business and production in late 2026 and 2027. Exchange rate changes can raise the cost of imported materials and foreign-currency debt servicing, while interest rates and energy prices affect company costs.
Associate Professor Bui Quang Tuan said Vietnam's economy retained positive momentum, but room for manoeuvre was narrowing. Economic expert Vo Tri Thanh warned of inflationary pressure, the risk of a trade deficit and an imbalance between capital mobilisation and credit growth. He cited a credit and deposit gap that had at times reached 2.3 quadrillion VND.
Need for diversified funding
The forum noted businesses' heavy reliance on bank credit, especially for medium and long-term financing. Banks cannot fully meet growing investment needs, so Vietnam needs developed capital markets and additional funding channels. Businesses also need transparent financial statements, standardised data and stronger corporate governance.
Dao Van Ha, Deputy Director of the State Bank of Vietnam's Department of Forecasting and Statistics, said monetary policy would remain proactive and flexible. Banks would prioritise production and growth drivers while controlling risky lending.
Cash flow management to limit risks
Vinh urged companies to prepare scenarios for volatility, centralise cash flow management, diversify funding and improve access to capital markets. In 2027, businesses will need to protect cash flows under adverse scenarios, not only forecast exchange rate and interest rate movements.
Sources: VietnamPlus / Vietnam News Agency
