VINACHEM

The Ministry of Industry and Trade (MoIT) and Việt Nam trade offices abroad are set to intensify collaboration with local departments, commodity associations and businesses to capitalise on export opportunities arising from international economic integration.

The Ministry of Industry and Trade (MoIT) and Việt Nam trade offices abroad are set to intensify collaboration with local bodies, commodity associations and enterprises to capitalise on export opportunities arising from international economic integration.

At a meeting with Việt Nam trade offices abroad, held by the ministry on Tuesday, Nguyễn Anh Sơn, director of the MoIT's Import-Export Department, outlined the Government's growth targets in 2025, including GDP growth rate of at least 8 per cent, an export growth rate at over 12 per cent and a trade surplus of US$30 billion.

Total export values this year is projected to reach about $454 billion, with an average monthly export turnover of about $37.8 billion, while imports are expected to amount to $424 billion.

Sơn emphasised the importance of meeting the export growth target of 12-14 per cent in 2025, which will require Việt Nam to reach a monthly export value to about $38 billion in average, $4 billion higher than the monthly export in 2024.

Meanwhile, Deputy Minister of Industry and Trade Phan Thị Thắng noted that the significant challenges for global trade in 2025 are anticipated. Geopolitical tensions remain unresolved, continuing to disrupt the global supply chain.

Additionally, trade defence measures are expected to rise as major economies, including the US, adjust policies to protect domestic production.

Thắng pointed out the enduring impact of policies from US President Donald Trump, which are still shaping the global economy.

In response, the MoIT reaffirmed its commitment to working closely with all relevant stakeholders to create synchronised solutions on helping Vietnamese businesses capitalise on market opportunities, enhance competitiveness and contribute to the sustainable development of the national economy.

Đỗ Ngọc Hưng, the Trade Counselor and head of the Việt Nam Trade Office in the US, noted that Việt Nam’s trade relationship with the US is complementary, rather than directly competitive. Vietnamese products do not face direct competition from US goods, but rather help American consumers access quality products at competitive prices, thus helping to curb domestic inflation.

In January 2025, Việt Nam's exports to the US reached about $10 billion, a 4.6 per cent increase from the previous year. While, imports from the US into Việt Nam decreased by 6.6 per cent, totalling about $1.5 billion.

Hưng offered a cautionary note to Vietnamese businesses, saying they should closely monitor the evolving US import tax policies and to adjust their strategies accordingly.

He also advised businesses to evaluate their production and business plans carefully, as countries subject to tariffs may introduce new protectionist measures, creating heightened competition for the Vietnamese market.

Việt Nam’s Trade Counselor Nông Đức Lai in China emphasised the importance of closely monitoring Chinese economic policies, as they significantly affect Việt Nam’s trade dynamics.

Given that both China and the US are Việt Nam's largest export markets, any trade policies or competition between the two countries impact Việt Nam both positively and negatively.

Lai said that as Chinese businesses seek solutions to avoid US tariffs, they have increasingly turned to other countries, including Việt Nam. It indirectly promotes Việt Nam to become an attractive destination thanks to competitive labour costs and a favourable geographical location.

This shift presents opportunities for Việt Nam to enhance its position in global supply chains, particularly in industries like agriculture and light manufacturing. However, it also exposes Việt Nam to the risk of anti-dumping investigations by the US.

Meanwhile, Trần Ngọc Quân, Việt Nam’s Trade Counselor in Belgium and the EU, outlined that the European Union’s future economic policies would prioritise enhancing competitiveness, security and resilience.

Therefore, Vietnamese businesses must seize opportunities under the EU-Việt Nam Free Trade Agreement (EVFTA) to ramp up trade promotion activities and find strategic partners.

Quân also stressed the need for Vietnamese companies to improve their business practices and adhere to international standards, including regulations on product quality and food safety.

Deputy Minister Thắng suggested that Việt Nam trade offices abroad should strengthen support for localities, commodity associations and businesses. Accordingly, the trade offices need to update market trends, connect with potential partners and address any challenges. The Ministry of Industry and Trade will work to provide solutions to obstacles faced by exporters.

Localities should promote regional links, coordinate with businesses and commodity associations to build sustainable supply chains, increase added-value products for export, and better meet the increasing demands of the international market.

Associations need to build trade promotion programmes focusing on market research, identifying high-potential markets and aligning business strategies with regional and global supply chain trends.

Also, they are urged to help businesses embrace technological innovation, digital transformation, and product quality improvements to meet increasingly stringent export requirements.

Enterprises themselves are encouraged to monitor global market conditions closely and adapt their strategies to comply with international trade regulations. This includes careful sourcing of raw materials, especially from countries subject to tariffs, to mitigate the risk of origin fraud investigations.

Thắng said Việt Nam trade offices are tasked with connecting domestic businesses with international investors, fostering cooperation and seizing opportunities in emerging industries such as high-tech, artificial intelligence and clean energy technologies.

The offices should also seek to attract investments that can boost the country's technological capabilities and enhance its competitiveness on the global stage.

They should facilitate connections with research institutions and international investment funds to advance cooperation and technology transfer, which can lead to the development of a thriving innovation ecosystem in Việt Nam.

Additionally, the ministry will continue to coordinate with the trade offices to organise trade promotion activities that connect Vietnamese enterprises with large tech corporations, both domestic and international. This collaboration will be pivotal in expanding cooperation, boosting exports of high-tech products. — Source: VNS