Sterling drop will barely affect exports to UK: officials
The weakening of the UK sterling will not have much impact on Vietnamese exports since it is expected to be short-lived, said an official from the Ministry of Industry and Trade.
Hanoi (VNA) - The weakening of the UK sterling will not have much impact onVietnamese exports since it is expected to be short-lived, an official of theMinistry of Industry and Trade has said in response to public concerns.
TranThanh Hai, deputy director of the ministry’s Import-Export Department, said theUK was a large Vietnamese trading partner in Europe, but exports to the countryonly account for 3 percent of the country’s export revenue.
"Thesterling’s depreciation is temporary and once the UK and European Unioncomplete Brexit negotiations, investors will feel secure," Hai said.
However,the ministry’s officials also warned that firms with large orders from the UKthat depend on that market heavily would be hit hard. This suggests thatexporters not focus too much on an individual market, and should diversifytheir consumption markets to minimise unexpected damages.
DangHoang Hai, Director of the ministry’s European Market Department, saidVietnamese shipments currently go through customs at the Netherlands, Germanyand Belgium, from where they are able to access the UK market.
Afterthe UK leaves the EU, Vietnamese exporters could face more barriers inaccessing the UK market this way. They would have to go through some procedurestwice, like customs clearance, food safety and hygiene inspection, as well asother technical barriers, which would be costly and time-consuming for them.
Itwould be much more difficult for the Vietnamese exports to reach Britishcustomers directly once technical barriers with the EU are in place, Dang HoangHai said. Therefore, the ministry urged exporters to study other ways to shipgoods.
Accordingto the ministry’s statistics, the UK imports 700 billion pounds worth of goods,but Vietnamese exports account for just five billion pounds, or 0.5 percent ofthe import value.
Although Vietnam’s export value to the market isnot high, most of the exports are its major commodities such as seafood, farmproduce, textile and garment, furniture and wood products. The UK, in fact, isone of the few single markets seeing a positive growth rate of shrimp importsfrom Vietnam; regional markets like the EU and ASEAN have seen a decrease.-VNA
The Vietnam-UK Network has contributed significantly to stimulating the strategic partnership between the two countries, said Vietnamese Ambassador to the UK Nguyen Van Thao.
Developed with state-of-the-art infrastructure, the Da Nang FTZ is designed to become a leading regional economic centre and a strategic growth pole in Vietnam’s new development landscape.
The Binh Duong Association of Supporting Industries (BASI) is expected to promote the usage of domestically manufactured components while supporting businesses in accessing international markets, strengthening linkages, and promoting deeper integration into global supply chains.
PwC Vietnam forecasts a vibrant M&A market in Vietnam’s healthcare sector in 2025, driven by rising demand for high-quality medical services and a growing middle class. Pharmaceutical companies, private hospitals, and specialised medical facilities, particularly in ophthalmology and oncology, are predicted to be key targets for M&A.
The central province of Quang Nam is set to become a hub for the medicinal plant industry, with Ngoc Linh ginseng designated as the core crop, under the Prime Minister's decision issued earlier this year.
The North-South Expressway project is scheduled for completion by 2030, aiming to establish the groundwork for Vietnam’s modern railway industry and stimulate regional economic development, positioning the country for a significant economic leap in the era of national rise.
The probe, initiated on June 11 following a petition by the US Coalition for Fair Trade in Hardwood Plywood, targets products classified under HS Code 4412 and 9403 imported from China, Indonesia and Vietnam.
Sun PhuQuoc Airways was born as a perfect piece in Sun Group’s strategic vision to build a premium ecosystem of tourism, entertainment, real estate, and aviation. With a pioneering ambition, Sun PhuQuoc Airways is not just an airline, but a symbol of connection – bringing the world to Phu Quoc and taking Phu Quoc to the world.
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.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
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.
Illustrative photo (Source: im-export.com.vn) 
