Ministry of Industry and Trade (MoIT) expresses optimism in achieving trade expansion goals set for 2025.
Vietnam's economic growth and trade opportunities were the focus of discussions at the Vietnam International Sourcing 2025 (VIS 2025) and Ho Chi Minh City Export Forum, with Deputy Minister of Industry and Trade Phan Thi Thang emphasizing the importance of these events.
According to Thang, the target of 12 per cent growth in import-export turnover in 2025 is achievable. In 2024, Vietnam's total import-export turnover exceeded $786 billion, with exports reaching $405 billion, up 14.3 per cent.
However, Vietnamese enterprises face challenges in sectors such as semiconductors, high technology, logistics, and supply chain management due to insufficient internationally qualified personnel. To overcome these challenges, Thang suggests enhancing production capacity through technological investment, process optimization, and compliance with international standards on quality and sustainability.
Experts discussed ways to unlock opportunities for Vietnamese businesses to join global supply chains. One solution is for businesses to make full use of free trade agreements, master rules of origin, and expand export markets. Linh, another speaker, encourages businesses to build close relationships with distributors and international partners through trade promotion events, direct connections with importers, and cooperation with Vietnam's overseas trade offices.
VIS 2025 and ITE HCMC 2025 gathered 450 purchasing delegations from 60 countries and territories, including traditional markets and emerging potential regions. More than 300 purchasing delegations from 60 countries and territories participated in the events, including major international retail groups such as Walmart, Amazon, IKEA, H&M, Central Retail, AEON, and LuLu Group.
Vietnam attracts investors due to its strategic geographical location, stable political environment, competitive labour costs, and network of 17 free trade agreements. The expected number of international arrivals in 2025 is 25 million, with international tourism contributing about 8 per cent to Vietnam's GDP in 2024, with over 18 million international arrivals.
Linh also highlighted that trade barriers such as anti-dumping duties and trade defence investigations from the US and EU, along with fierce competition from foreign-invested enterprises, put domestic firms under pressure. To adapt, Vietnamese businesses are investing in local supply chains, exploring new export markets, and innovating to maintain competitiveness in a challenging global landscape.
Sixty trade offices and branches worldwide also brought business delegations to the event. Thirty-seven items in Vietnam surpassed the $1 billion mark in 2024, and eight items exceeded $10 billion. The total export-import turnover since the start of the year is nearly $515 billion.
In the context of altered US tariffs making great impacts on the global supply chain, the supporting industry is now increasingly important for the business community, including those from Japan. To overcome these challenges, Linh encourages businesses to make full use of free trade agreements, master rules of origin, and expand export markets.
In conclusion, VIS 2025 and ITE HCMC 2025 provided a platform for Vietnamese businesses to connect with international partners, explore new markets, and discuss solutions to overcome challenges in the global economy. The Party, state, and government have introduced key strategies to sustain and accelerate economic growth, including fostering the private sector, driving breakthroughs in science, technology, and innovation, renewing legal frameworks, and deepening international integration.
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