Expecting new milestones

To ensure a breakthrough in export targets in the final months of 2025 and maintain growth momentum for subsequent years, faster, more decisive, and coordinated action is needed across the entire economic front.

The figure of $801 billion conveys a significant message about the resilience, durability, and openness of the Vietnamese economy. Double-digit import and export growth shows that manufacturing, processing, and export activities are expanding, international market demand for Vietnamese goods remains positive, and domestic businesses are effectively utilizing free trade agreements and opportunities arising from global supply chain shifts.

Equally important, the trade surplus of $19.54 billion helped strengthen the macroeconomic foundation: stabilizing the exchange rate, increasing foreign exchange reserves, reducing inflationary pressure from imports, and creating room for flexible management of monetary and fiscal policies.

While many emerging economies are facing pressure from currency devaluation and trade deficits, Vietnam continues to maintain its position as an economy with strong production and export capabilities.

Notably, strong export growth is concentrated in key sectors such as electronics, machinery, textiles, footwear, and processed agricultural products. These sectors have the potential to drive GDP (Gross Domestic Product) growth in the fourth quarter, making a significant contribution to achieving the high growth target set by the Government for the whole year. Increased exports lead to job recovery in the industrial and service sectors, increased budget revenue, and expanded production capacity for the following year.

However, sustainable growth cannot rely solely on scale but must also depend on quality and added value in each exported product. Some industries still heavily rely on imported raw materials and components, limiting their actual revenue.

Furthermore, competitive pressure from major markets and the potential slowdown in global demand require Vietnam to be more proactive in maintaining growth momentum in the latter part of the year. Given this situation, three groups of solutions need to be strongly implemented.

Firstly, it's crucial to reduce production and export costs. We need to continue simplifying procedures, reducing customs clearance times, and prioritizing the rapid release of raw materials and components for production. Many businesses have reported that simply shortening storage time at the port by one day significantly reduces costs. Reviewing logistics fees and expanding transportation infrastructure connecting seaports and industrial zones will help Vietnamese goods become more competitive.

Secondly, it is necessary to diversify export markets and products. Ministries, sectors, and associations need to support businesses in accessing new markets and making deeper use of new-generation free trade agreements (FTAs) such as the Comprehensive and Progressive Trans- Pacific Partnership (CPTPP), the Vietnam-European Union Free Trade Agreement (EVFTA), and the Vietnam-United Kingdom Free Trade Agreement (UKVFTA).

Besides key products, Vietnam can expand its product range to include high-tech and green products – categories that are currently prioritized in European, North American, and Northeast Asian markets.

Thirdly, it's crucial to enhance competitiveness in terms of product quality and origin. In the context of the widespread green trade trend, businesses must invest more in energy-saving technologies, environmental management, traceability, and standardized production processes. This is not only a mandatory requirement for entering demanding markets but also key to maintaining stable export performance.

If these solutions are implemented decisively and effectively in the final month of the year, Vietnam can certainly expect to set new milestones in exports, thereby creating a strong impetus to boost GDP growth for the following year.

Source: https://hanoimoi.vn/ky-vong-nhung-cot-moc-moi-724543.html