Goods consumption in big markets such as the US and the EU is showing brighter signs, creating a driving force for orders for Vietnamese key exports such as garment and textile, packaging, footwear, wood processing, and particularly electronics, with many enterprises have received orders until mid-year.
Many enterprises have received orders until mid-year (Photo: VNA)
Hanoi (VNA)♑ – Goods consumption in big markets such as the US and the EU is showing brighter signs, creating a driving force for orders for Vietnamese key exportssuch as garment and textile, packaging, footwear, wood processing, and particularlyelectronics, with many enterprises have received orders until mid-year.
ABBHarvest packaging Co. Ltd. said that 400 workers have returned to their factoryto meet orders for the second and third quarters of this year. The company can fulfill orders that need to be delivered in Marchand April. Besides,many enterprises have proactively invested and upgraded manufacturing equipmentto meet increasing demands. In late2023, Duc Giang Garment Corporation (Ducgarco) perfected an innovation creative centrewith adequate processes from designing, sewing, marketing, and training, amongothers, to better serve customers. Phu Cuong SpinningMill Factory has implemented restructuring, conversion, and upgrading ofequipment in an attempt to improve productivity and competitiveness. Accordingto statistics from the Vietnam Customs, from the beginning of this year to February15, the total country's trade value reached 84.74 billion USD, of which exports accountedfor 44.42 billion USD, an expansion of 19.6% year on year. In arecent report of VinaCapital, exports in the first month of 2024 are estimatedat 33.57 billion USD, a soar of 42% compared to the same period last year.Notably, the export turnover of computers and electronics rose by 60%year on year. Ministerof Industry and Trade Nguyen Hong Dien acknowledged that industrial productionand trade are experiencing an upward trend, but there are still challenges aheadcaused by the world’s economic and political situations, which are difficult to forecast. Theminister requested relevant units under the ministry to instruct and supportenterprises to catch up with market trends, effectively taking advantages of freetrade agreements to which Vietnam is a signatory./.
While optimistic about a recovery in wood products exports, industry insiders also cautioned about the challenges ahead and said businesses should adopt flexible strategies and enhance promotions to retain their traditional customers and get new ones.
Rosy signs in exports-imports, rising shipping fees, and new regulations on seaport services charges are believed to steer Vietnam's seaport and logistics sector through headwinds this year.
Despite daunting challenges, Vietnam’s exports of wood and wooden furniture have shown signs of recovery since the end of 2023, Director of the Vietnam Chamber of Commerce and Industry (VCCI)’s Ho Chi Minh City Branch Tran Ngoc Liem said on February 26.
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A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
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The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.