Ministry Expresses Optimism in Achieving Trade Expansion Goals by 2025

Vietnam's economic growth and export successes have been the focus of discussions at the recent Vietnam International Sourcing (VIS) 2025 and Ho Chi Minh City Export Forum (ITE HCMC 2025).

Deputy Minister of Industry and Trade Phan Thi Thang emphasised the country's impressive achievements, with Vietnam's total export-import turnover reaching nearly $515 billion since the start of 2025. In 2024, this figure exceeded $786 billion, with exports reaching $405 billion, up 14.3 per cent.

International tourism also contributed significantly to Vietnam's economy, accounting for about 8 per cent of the GDP in 2024, with over 18 million international arrivals. The number of international arrivals is expected to rise to 25 million in 2025.

Thang also highlighted the target of 12 per cent growth in import-export turnover in 2025 as achievable. To achieve this goal, she suggested enhancing production capacity through technological investment, process optimisation, and compliance with international standards on quality and sustainability.

Sixty trade offices and branches worldwide brought business delegations to the events, and over 400 Vietnamese businesses with 12,000 products exhibited. These businesses covered a range of industries, including agriculture, beverages, processed foods, consumer industrial goods, textiles, footwear, furniture, packaging, and supporting industries.

However, Vietnamese businesses face challenges in sectors such as semiconductors, high technology, logistics, and supply chain management due to insufficient internationally qualified personnel. To overcome these challenges, Linh, a representative at the events, emphasised the importance of utilizing free trade agreements, mastering rules of origin, and building relationships with distributors, international partners, and Vietnam's overseas trade offices to expand export markets.

Companies from countries such as Denmark and various foreign investors are currently investing in Vietnam, taking advantage of its strategic location, stable political environment, cheap labor, and a network of 17 free trade agreements covering more than 60 countries. Vietnamese businesses are adapting to new US tariffs by investing in local supply chains, exploring new export markets, and innovating to maintain competitiveness in a challenging global landscape.

The altered US tariffs are making significant impacts on the global supply chain, with the supporting industry becoming increasingly important for businesses, including those from Japan. Experts discussed ways to unlock opportunities for Vietnamese businesses to join global supply chains.

VIS 2025 and ITE HCMC 2025 attracted 450 purchasing delegations from 60 countries and territories, including traditional markets like the US, EU, Japan, and South Korea, as well as emerging potential regions such as the Middle East, Latin America, and Eastern European countries.

The events provided a platform for Vietnamese businesses to showcase their products and services, network with potential partners, and discuss strategies for sustainable economic growth and export success. The Party, state, and government have introduced key strategies to sustain and accelerate economic growth in Vietnam, and these events are an important step in achieving these goals.