Vietnamese firms supported in gaining foothold in US market
Vietnamese enterprises received updates on fresh information, policies, and business opportunities for the US market at a workshop held in Hanoi on July 27.
Workers package dragon fruits for export (Photo: VNA)
Hanoi (VNA) – Vietnamese enterprises received updates on freshinformation, policies, and business opportunities for the US market at aworkshop held in Hanoi on July 27.
Le Hoang Tai, deputy head of the Vietnam Trade PromotionAgency under the Ministry of Industry and Trade (MoIT), said that the US hasmaintained its position as the leading trade partner of Vietnam over the pastdecade. Last year, Vietnam’s export to the US hit 41.6 billion USD, accountingfor over 20 percent of its total export value.
Besides main exports such as garment and textiles, footwear,wood products, and seafood; new products, including electronic products,processed food, and iron and steel, are beginning to have a firm foothold inthis market too, Tai added.
According to Nguyen Thang Vuong from the MoIT’s Departmentof European and American Markets, since the Vietnam-US Bilateral TradeAgreement took effect, two-way trade enjoyed a 47-fold increase from 220million USD in 1994 to 50.8 billion USD in 2017.
Vietnam currently ranks 12th amongst those exporting goodsto the US, and 27th in terms of those importing goods from the US. It is theAmerican nation’s 16th largest trader.
Former Vietnamese Trade Counselor in the US Dao Tran Nhan saidthat the US is a potential but choosy market, which requires Vietnameseexporters to improve their capacity and take the initiative in cooperation inorder to build a supply chain.
When working with US partners, especially throughe-transactions, if the US side requests for a change in transaction banks, itis necessary for Vietnamese businesses to stop contacting via email and directlycall to ask for the reasons behind this in order to avoid unexpected incidents,Nhan advised.
He also recommended food and beverage firms pay specialattention to the Food Safety Modernisation Act. –VNA
The US Department of Commerce (DOC) recently announced an anti-dumping duty and countervailing duty investigations into laminated woven sacks imported from Vietnam.
Vietnam’s tra fish exporters can still access the US market despite the US Department of Commerce (DOC)’s imposition of high anti-dumping duties on Vietnamese tra fish, said Secretary General of the Vietnam Association of Seafood Exporters and Producers (VASEP) Truong Dinh Hoe.
Experts at the recent Vietnam-US Trade Forum in Ho Chi Minh City have suggested Vietnamese enterprises step up the export of processed goods of high added values to the US, apart from raw products.
Although the US is deemed a promising market for exporters, it also sets very strict import regulations. For this reason, Vietnamese enterprises are urged to improve their capacity and shake hands with others to develop supply chains to make inroads into this market.
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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.
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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.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
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The analysis from an investment perspective shows that the economy’s growth has been heavily capital‑driven, yet efficiency remains low as reflected by Vietnam’s Incremental Capital-Output Ratio (ICOR) being significantly higher than global and regional averages. This underscores the imperative to enhance capital‑use efficiency.
Deputy PM Tran Hong Ha urged countries to work together to remove supply chain bottlenecks, expand market access, strengthen cooperation in smart customs procedures, mutually recognise technical standards, and eliminate unnecessary protectionist barriers to boost trade and investment.
The event has gathered over 400 exhibitors from 16 countries and territories, with more than 980 booths showcasing a wide range of products and technologies in automotive components, electronics, repair and maintenance, bodywork, accessories, and customisation.
The latest order follows Vietjet’s commitment for 20 additional A330neo aircraft last month, bringing the airline’s total widebody aircraft on order to 40.
Minister of Finance Nguyen Van Thang acknowledged the target represents an important milestone for socio-economic development as well as a demonstration of the country’s aspiration for robust economic growth.
The price of E5 RON92 petrol is now capped at 20,631 VND (0.79 USD) per litre, up 1,169 VND from the previous adjustment, while RON95-III costs no more than 21,244 VND per litre, up 1,277 VND.
While German consumers are familiar with Vietnamese products such as coffee, seafood, tea, and spices, many other quality items remain relatively unknown in the market. The Selgros event not only helped introduce Bac Giang lychee to German consumers but also provided them with the opportunity to experience other Vietnamese agricultural products.
The article by Cuba’s Inter Press Service detailed how Vietnamese private enterprise Agri VMA leased 1,000 ha of land in Los Palacios district, Cuba’s westernmost province of Pinar del Río, for rice cultivation over a three-year period. The project’s first harvest in 2025 recorded an impressive yield of 7.2 tonnes per hectare, far exceeding the local average of 1.6 tonnes.
Workers package dragon fruits for export (Photo: VNA) 
