Vietnam aims for 454 bln USD export revenue amid global headwinds
Vietnam has set an ambitious export target of 454 billion USD for 2025, a 12% year-on-year increase, despite recent signs of deceleration in exports due to global economic pressures.
Many experts believe that achieving this goal will require decisive actions from regulatory bodies and extraordinary efforts from businesses to overcome obstacles.
According to data from the Ministries of Finance and Industry and Trade, Vietnam exported 65.2 billion USD worth of products in January-February, a 9.9% increase compared to the same period last year. Meanwhile, imports totaled 62.9 billion USD, rising 16%, resulting in a trade surplus of 235 million USD.
The MoIT has issued a directive outlining several solutions to develop markets, promote exports, and manage imports this year. The ministry advised businesses to closely track market developments, while Vietnamese trade offices abroad will continue updating industry associations on policy changes so businesses can adjust production plans and seek new orders accordingly. Efforts will also focus on exploring new markets, such as the Middle East and Halal markets.
Experts emphasised the importance of capitalising on free trade agreements, accelerating negotiations for new and upgraded pacts, and ensuring the domestic implementation of international commitments. Additionally, training on rules of origin for enterprises, along with efforts to combat origin fraud, improve logistics services, and promote digitalisation to streamline business operations, should be prioritised.
