Vietnam's exports grow but there is still much pressure

The market is wide open, but Vietnam's exports still face many concerns. Photo: Ngoc Le

Businesses face pressure from the US, EU and logistics costs

Mr. Nguyen Huu Nam - Deputy Director of the Vietnam Federation of Commerce and Industry (VCCI) - Ho Chi Minh City Branch said that the current general situation makes it difficult for both domestic and FDI enterprises. In the first half of September alone, exports decreased by over 3% due to the impact of the US imposing reciprocal tariffs. The EU also made a request for trade balance, after Vietnam enjoyed a large surplus from EVFTA.

“Businesses will be under great pressure if they cannot change their strategies in time, because alternative markets such as the Middle East, South America or Africa are not large enough to compensate,” said Mr. Nam.

In addition, the process of merging ministries, branches and local authorities makes data unconnected, administrative procedures become more complicated. Changing business addresses must go through many levels, taking a lot of time. Mr. Nam emphasized that businesses only need the State to support two core factors: substantial administrative reform, moving towards data connection; reducing logistics costs, which account for over 15% of the cost price. This will be the key solution to help improve competitiveness.

From an industry perspective, Mr. Phung Quoc Man - Chairman of the Handicraft and Wood Processing Association of Ho Chi Minh City said that in the first 8 months of the year, wood exports reached 11.1 billion USD, an increase of 6.5%. The wood industry must proactively diversify its markets, reduce dependence on the US, and increase export value by switching to the ODM model associated with design.

Exploiting cross-border e-commerce and increasing the proportion of interior products instead of low-value items (pellets, wood chips, plywood) will help the Vietnamese wood industry stand firmer in the face of global fluctuations.

Diversify markets, remove policy barriers

Ms. Nguyen Cam Trang - Deputy Director of the Import-Export Department ( Ministry of Industry and Trade ) said that in the first 9 months of 2025, export turnover increased by over 15%, far exceeding the target of 12%. This result was achieved thanks to businesses boosting exports to the US in the previous months, although the end of August and September recorded a slowdown in some products.

“If there are no major shocks, the export growth target for the whole year is completely feasible, making an important contribution to the economy ,” Ms. Trang affirmed.

According to Ms. Trang, sustainable growth requires synchronization of supply, demand and export organization, in which economic diplomacy plays a key role. The Ministry of Industry and Trade and the Ministry of Foreign Affairs have coordinated to promote trade agreements, expanding to potential markets such as the Middle East and the Gulf. However, the problem of rules of origin is still a major barrier. Vietnam hopes that the upcoming negotiations with ASEAN - Canada can create a more flexible accumulation mechanism, helping businesses take advantage of diverse raw materials.

As for the US market, the issue of goods transit has not been clearly defined, while the risk of imposing a 20-40% reciprocal tax still exists. This requires early specific guidance so that businesses can proactively plan production and avoid falling into a passive position.

Along with opening the market, Ms. Trang emphasized that institutional reform is a top priority. Resolutions 66 and 68/2025 are being implemented in a practical manner, with a mechanism to receive and handle feedback on legal problems. Ministries and branches must review and amend overlapping or inappropriate regulations, even amend laws if necessary. This is an important driving force to support businesses.

Another bright spot is that Vietnam is increasingly becoming a trusted destination in the trend of restructuring global supply chains. However, to take advantage of this opportunity, it is necessary to solve the "bottlenecks" in logistics costs, infrastructure and high-quality human resources.

Source: https://baoquangninh.vn/xuat-khau-viet-nam-tang-truong-nhung-con-nhieu-ap-luc-3378292.html