Vietnam Determined to Boost Export Growth and Diversify Markets to Achieve Dual Targets

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Vietnam’s trade in the first eight months of 2025 showed many bright spots. According to data from the Ministry of Industry and Trade, total import-export turnover reached nearly USD 305 billion, an increase of 14.4% compared to the same period in 2024. This is an impressive result given the uncertainties of the global economy and the disruptions to international supply chains caused by trade conflicts and geopolitical fluctuations.

Containers loaded at Cai Mep - Thi Vai Port in southern province of Ba Ria - Vung Tau. (Photo: VNA/VNS)

Trade counselors at the conference affirmed that the EU-Vietnam Free Trade Agreement (EVFTA) and bilateral cooperation mechanisms have provided clear advantages for Vietnamese goods. According to Trade Counselor in Belgium and the EU Tran Ngoc Quan, more than 90% of tariff lines under the EVFTA have been reduced to zero, creating significant opportunities for enterprises to diversify markets, reduce dependence on the United States, and strengthen their presence in Europe.

However, to secure a long-term position, businesses must proactively adapt to new trade barriers. Trade Counselor in Sweden Nguyen Hoang Thuy pointed out that the Nordic market has strong purchasing power, with consumers willing to pay higher prices for green and innovative products, but geographical distance and high logistics costs diminish the competitiveness of Vietnamese goods. Trade counselors emphasized that the vast EU market still offers many opportunities, but Vietnamese enterprises must improve product quality and adopt comprehensive strategies to maintain their advantages and expand market share.

The Ministry of Industry and Trade organized a trade promotion briefing conference with Vietnam’s overseas trade offices on September 9. (Photo: Ministry of Industry and Trade)

Minister Nguyen Hong Dien emphasized the vital role of Vietnam’s overseas trade offices and called for market classification to implement specific tasks. In particular, for markets with negative growth, trade offices must promptly identify the causes, restore orders, and remove barriers. For markets with low growth, exports need to be boosted by at least 8.5%. For medium-growth markets, it is necessary to maintain momentum and raise it to 12%. For high-growth markets, trade offices must continue to take the lead, striving for over 15% growth to drive overall export turnover.

In addition, the Minister requested close coordination among ministries and sectors such as the Ministry of Finance, the State Bank, the Ministry of Agriculture and Environment, and the Ministry of Foreign Affairs to resolve obstacles for enterprises through tax, credit, and FTA negotiations. The Vietnam Trade Promotion Agency was assigned the key responsibility of coordinating and innovating promotion activities in line with market realities and business needs. The agency will roll out large-scale programs in major markets such as the EU, the United States, China, Japan, and the RoK, while also paying attention to niche and emerging markets. At the same time, trade promotion efforts will focus on strategic sectors such as semiconductors, artificial intelligence, and renewable energy.

Minister Nguyen Hong Dien affirmed: “In a world of constant fluctuations, to sustain growth momentum, overseas trade offices must serve as the extended arm of the Ministry of Industry and Trade, working hand in hand with enterprises and industry associations. Only with unity can we elevate Vietnam’s exports to new heights.” He stressed that this is particularly important as the domestic market is gradually reaching its limits, with little room left for expansion, making exports the spearhead of growth.

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