Vietnam still important link in global supply chain: experts
Vietnam is becoming a more important piece of the global supply chain, despite the supply chain and shutdown problems facing the country at present, Executive Director of the American Chamber of Commerce in Vietnam (AmCham Vietnam) Adam Sitkoff has told Bloomberg Television.
Hanoi (VNA) – Vietnam is becoming a more important piece of the global supply chain, despite the supply chain and shutdown problems facing the country at present, Executive Director of the American Chamber of Commerce in Vietnam (AmCham Vietnam) Adam Sitkoff has told Bloomberg Television.
Acknowledging the pandemic is hindering Vietnam from increasing its role in the supply chain, Sitkoff said he still sees Vietnam attracting investment. He pointed to Vietnam’s best-in-Asia growth performance of 2.9 percent last year.
AmCham hopes anti-COVID-19 policies are the least disruptive to business as possible as firms look for ways to smooth deliveries leading into the critical year-end holiday season, he added.
Though several international organisations have lower their forecast for Vietnam’s growth, they retain a positive outlook on its recovery prospects.
"Beyond the near-term challenges, Vietnam’s medium-term economic prospects remain favourable," analysts at Australia & New Zealand Banking Group Ltd (ANZ) said in a recent note.
ANZ analysts said in the ANZ Vietnam Activity Tracker said the structural factors that made Vietnam an attractive investment destination as a manufacturing hub remain intact.
There is also ample room for policy support to nurture economic recovery further, they stressed.
However, they warned about downside risks to the bank’s 5.2 percent full-year 2021 growth forecast for the country.
Andreas Stoffers, country director of the Friedrich Naumann Foundation (FNF) in Vietnam, said that Vietnam's economic figures for the first half of 2021 are not too bad, with its consumer price index (CPI) of 1.46 percent still under control.
He expressed his belief that Vietnam will overcome the crisis as it did in 2020./.
Vietnam is still a bright spot for foreign businesses, Ambassador to the UK Nguyen Hoang Long has affirmed with representatives of British business circle
Prime Minister Pham Minh Chinh delivered a speech at the 2021 Global Trade in Services Summit via video on September 2 evening, highlighting the promotion of cooperation in digital transformation given the current context.
Phyllis Papadavid, Head of Research and Advisory at Asia House, a consulting organisation based in London, the United Kingdom, in her research, pointed out that Vietnam should promote investment to revive its economy and strengthen its ability to respond to new risks despite its success in dealing with a crisis caused by the COVID-19 pandemic.
Canadian entrepreneurs have voiced their belief in Vietnam’s economic outlook despite the fourth wave of COVID-19 outbreaks and the adverse impacts of the pandemic on the country’s activities and momentum growth.
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.
Outcomes of ABAC III will shape ABAC’s final policy recommendations to be submitted to the ABAC-APEC leaders’ dialogue, scheduled to take place in the Republic of Korea this November.
This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
Illustrative image (Source: VNA) 
