The rate of Vietnamese enterprises taking advantage of FTA opportunities is only about 40%.

In the context of increasingly deep international integration, free trade agreements (FTAs) are considered a "passport" for Vietnamese goods to penetrate the global market. However, according to the Ministry of Industry and Trade , currently only about 30 - 40% of Vietnamese enterprises take advantage of tariff incentives from FTAs, while 60 - 70% of incentives have not been exploited.

Wide open opportunities from 17 FTAs

By early 2025, Vietnam had signed and implemented about 17 important FTAs, including new generation agreements such as EVFTA, UKFTA, CPTPP, RCEP. With EVFTA, the European Union committed to eliminating up to 99% of tariff lines after 7 years; CPTPP also eliminated 97-100% of tariffs, paving the way for Vietnamese goods to access more than 60 global markets.

Thanks to tariff incentives, the export turnover of goods benefiting from the FTA has grown by an average of 12.7% per year in the 2023-2024 period. This is a positive signal, showing that the FTA is truly a driving force to promote exports and increase competitiveness for Vietnamese enterprises.

Challenges from standards and origin

However, taking advantage of the opportunity is not easy. Mr. Vo Tuan Anh - Deputy Director of Trade Promotion of Ban Me Gold Company, said: "Each market has its own set of strict regulations from quality to price. Enterprises that want to stand firm cannot lower standards but must take advantage of tariff incentives to increase competitiveness."

In particular, the issue of raw material origin is a major barrier. Ms. Nguyen Thi Phuong - Director of Trade Comply Company shared: "For example, garments exported to the US if containing cotton fiber from Xinjiang (China) will be rejected. Enterprises need to control the supply chain from the beginning, ensure transparency and prove the origin to enjoy FTA incentives."

Tỷ lệ doanh nghiệp Việt tận dụng cơ hội FTA chỉ khoảng 40% - Ảnh 1.

Tỷ lệ doanh nghiệp Việt tận dụng cơ hội FTA chỉ khoảng 40% - Ảnh 2.

Tỷ lệ doanh nghiệp Việt tận dụng cơ hội FTA chỉ khoảng 40% - Ảnh 3.

Agricultural processing line for export

From a management perspective, Ms. Dinh Thi Huong Giang - Consulting Director of Grant Thornton Vietnam Auditing and Consulting Company - emphasized the importance of financial transparency. "Enterprises need to review their accounting systems, comply with reporting standards and tax obligations. This is the basis for international partners to evaluate their reputation when cooperating."

Meanwhile, Ms. Ton Nu Xuan Quyen - Chairwoman of the Board of Directors of BlueSaigon Joint Stock Company - said that digital transformation is a prerequisite: "Only when proactively mastering international law and applying technology, can businesses effectively exploit incentives from FTAs".

Accompanying businesses

Tỷ lệ doanh nghiệp Việt tận dụng cơ hội FTA chỉ khoảng 40% - Ảnh 4. — *Businesses attend workshop on opportunities from new generation FTAs*

In order to support the business community, the Government has been implementing many solutions: organizing seminars to disseminate knowledge about FTAs, reforming administrative procedures, applying electronic documents in trade, simplifying the issuance of certificates of origin of goods. These policies help reduce time, costs and create conditions for businesses to turn paper incentives into real benefits.

Take advantage of incentives to elevate Vietnamese products

FTAs not only bring tariff advantages but also pose a strict “test” for Vietnamese goods. To take advantage of them better, businesses need to innovate management, improve production capacity, proactively transform digitally and make supply chains transparent. At that time, incentives from FTAs will become a launching pad, helping Vietnamese goods affirm a more solid position in the international market.

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