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The Star
19-07-2025
- Business
- The Star
Enterprises in Vietnam expect further trade promotion
HANOI: As global markets remain volatile and unpredictable, Vietnamese enterprises are placing high expectations on trade promotions and export strategies to help them navigate ongoing challenges. The newly issued directive of Prime Minister Pham Minh Chinh, called Directive 18, on solution to promote trade lays out a strategic framework aimed at invigorating domestic and foreign trade promotion in 2025, signalling a robust governmental commitment to economic recovery and sustainable development. Directive 18, issued on June 18, 2025, focuses on a transition from broad-based trade promotion to a more focused, in-depth approach. Its objective is to increase the market share of Vietnamese goods in both traditional markets and those with free trade agreements (FTAs). Domestically, the emphasis is placed on strengthening the internal market as a key pillar of economic resilience. The Ministry of Industry and Trade (MoIT) has also issued a decision to make a detailed action plan to implement Directive 18. The plan underscores the importance of promoting diverse, high-impact trade initiatives tailored to key international markets like the EU, the US, China, Japan, South Korea, and Asean nations. One of the ministry's priorities is to strengthen the implementation of trade promotion programmes for Vietnamese products in both established and emerging markets. In addition to targeting regions with established FTAs, the plan includes strategic expansion into niche and high-potential markets such as the halal segment -- Saudi Arabia, Egypt and the UAE. Key industries targeted for promotion include high-tech sectors like semiconductors, artificial intelligence, automation, machinery, and renewable energy. These efforts are aimed at positioning Vietnam not just as a manufacturing hub but also as a key player in advanced technology supply chains. Meanwhile, the Trade Promotion Agency is tasked with coordinating cross-sectoral efforts and organising national-scale events like Vietnam International Sourcing 2025, a flagship initiative designed to connect Vietnamese firms with international buyers, retailers and distributors. The MoIT's Import-Export Department has been directed to provide enterprises with timely updates on trade policies, consumer trends and technical regulations in FTA markets. Seminars and training will be organised to help businesses fully exploit tariff incentives and comply with international standard, particularly in terms of traceability, environmental compliance and labour regulations. Minister of Industry and Trade Nguyen Hong Dien has also stressed the need to assess bilateral trade balances with major partners such as the US, the EU and China, and to identify opportunities for expanding exports of high value-added goods. The MoIT's Department of Foreign Market Development will play a crucial role in building a dynamic export market database. It will coordinate with trade offices abroad and international trade bodies to monitor and analyse developments in tariffs, quality standards and sustainability requirements across markets in the EU, North America, Asia and beyond. Domestically, the ministry's Department of Domestic Market Management and Development will focus on campaigns, such as 'Vietnamese giving priority to Vietnamese goods', integrating them with broader promotional schemes to boost domestic consumption. Local trade fairs and promotional events will bring Vietnamese products to remote, rural, and economically disadvantaged areas. The strategy aims at enhancing the visibility and accessibility of local brands across the country. Digital commerce is another critical pillar of the action plan. The Department of E-commerce and Digital Economy will spearhead collaborations with major e-commerce platforms to boost Vietnamese products online. Through cross-border e-commerce and regional integration, these programmes aim to accelerate the digital transformation of Vietnamese enterprises and improve their competitiveness in both domestic and international markets. A yarn production line at Ha Nam Textile Co Ltd. The textile and garment industry needs to build domestic material supply chains. - Photo: VNA/VNS file Enterprise opinions Business leaders have largely welcomed Directive 18 as a timely and strategic intervention. Ly Kim Chi, chairwoman of the HCM City Food and Foodstuff Association, said that the directive provided necessary guidance in protecting the authenticity of Vietnamese goods, combating counterfeiting and leveraging digital transformation. "However, enterprises need a detailed action plan announced at the beginning of the year – what products, which markets, the type of support available and the financial terms,' she said. This would enable businesses to plan proactively instead of reacting passively due to information gaps, she added. Chi also noted the importance of aligning import policies with export strategies. Without a well-thought-out sourcing strategy for raw materials and components, Vietnamese exports could lose competitiveness in global markets. 'Supporting small and medium-sized enterprises through financial policies and structured guidance is essential for trade promotion efforts to be truly effective,' she said. Nguyen Van Muoi, deputy general secretary of the Vietnam Fruit and Vegetable Association, said that despite progress in trade promotion by the MoIT and the Ministry of Agriculture and Environment, budget limitations had restricted participation. 'Our association can only join two trade promotion programmes a year, which is insufficient for the number of member businesses we represent,' Muoi said. The volatility in China – a market that once consumed 64 per cent of Vietnam's fruit and vegetable exports – underscored the urgency of diversification. Durian exports, for instance, had seen a sharp decline due to stricter quality control. So, 'trade promotion alone is not enough. Quality is key,' he said, citing a dramatic market share loss in China to competitors like Thailand. In the textile industry, Pham Van Viet, vice chairman of the HCM City Textile, Embroidery and Knitting Association, highlighted the importance of building domestic supply chains. 'To build strong national brands, we must first be proactive in raw material sourcing,' Viet said. He stressed that while many businesses were trying to explore new markets like Australia and Canada, the process was slow and would require strategic, long-term support from the Government. He also called for more structured financial and technical support to help enterprises comply with FTA requirements and boost their competitiveness. The effectiveness of this directive will depend on seamless coordination between central agencies, trade offices abroad, local departments and the business communities. With full implementation, Directive 18 could be a turning point in helping Vietnamese enterprises overcome global challenges and build long-term economic resilience in 2025 and beyond. - Vietnam News/ANN
Business Recorder
12-07-2025
- Business
- Business Recorder
Talks on PTA with Vietnam to begin next year
ISLAMABAD: Pakistan and Vietnam have agreed to initiate negotiations on a Pakistan–Vietnam Preferential Trade Agreement (PTA) within 2025 and emphasised enhancing institutional and business linkages for sustained trade growth. The issue of trade was discussed at the 5th meeting of the Pakistan–Vietnam Joint Trade Committee (JTC) held in Hanoi, reactivating this institutional forum after a hiatus of eight years. The session was co-chaired by Nasir Hamid, Additional Secretary of Commerce, Phan Thi Thang, Deputy Minister of Industry and Trade, Viet Nam. The signing ceremony of the agreed minutes was witnessed Jam Kamal Khan, Federal Minister for Commerce of Pakistan, and Nguyen Hong Dien, Minister of Industry and Trade of Viet Nam. The Committee reviewed the current state of bilateral trade and outlined future cooperation in key areas including trade facilitation, market access, textile and fisheries, Halal certification, civil aviation, healthcare, and banking channels. Minister of Commerce, Jam Kamal Khan also held a bilateral meeting with Nguyen Hong Dien, Minister of Industry and Trade of Vietnam, to strengthen economic cooperation and explore new avenues for trade and investment between the two countries. The high-level meeting took place in a spirit of mutual friendship and partnership, reflecting the growing economic and diplomatic ties between Pakistan and Vietnam. Both sides reaffirmed their commitment to deepening bilateral trade relations and discussed key areas including trade diversification, market access, investment promotion, and collaboration in industrial development. During the meeting, the two ministers emphasized the need for enhanced business-to-business linkages, promotion of joint ventures, and cooperation in sectors such as textiles, agriculture, pharmaceuticals, information technology, and energy. Discussions also focused reducing trade barriers and working towards a Preferential Trade Agreement (PTA) to facilitate smoother trade flows. Minister Jam Kamal Khan highlighted Pakistan's strategic location and offered Vietnam greater access to Central Asian and Middle Eastern markets through regional connectivity projects. Nguyen Hong Dien expressed Vietnam's interest in increasing imports of Pakistani rice, textiles, and leather products, and welcomed Pakistani investment in Vietnam's manufacturing and technology sectors. The meeting concluded with a shared vision to elevate Pakistan-Vietnam bilateral trade volume and to foster long-term economic partnership for the mutual benefit of both nations. Copyright Business Recorder, 2025
Express Tribune
11-07-2025
- Business
- Express Tribune
Pak-Vietnam PTA talks soon
The fifth meeting of the Pakistan-Vietnam Joint Trade Commission (JTC) was held in Hanoi on Friday, marking the reactivation of the institutional forum after a hiatus of eight years. The session was co-chaired by Pakistan's Additional Commerce Secretary Nasir Hamid and Vietnam's Deputy Minister of Industry and Trade Phan Thi Thang. The signing of agreed minutes was witnessed by Federal Minister for Commerce Jam Kamal Khan and Vietnam's Minister of Industry and Trade Nguyen Hong Dien, said a statement. The committee reviewed the current state of bilateral trade and outlined future cooperation in key areas including trade facilitation, market access, textile, fisheries, Halal certification, civil aviation, healthcare and banking channels. Both sides agreed to initiate negotiations on a Pakistan-Vietnam Preferential Trade Agreement (PTA) in 2025 and underscored the need for enhancing institutional and business linkages for sustained trade growth. The meeting concluded with the commitment to unlocking the untapped trade potential between the two countries. The sixth session of the Joint Trade Commission will be held in Pakistan at a mutually convenient time. Separately, Minister for Commerce Jam Kamal Khan held a bilateral meeting with Vietnam's Minister of Industry and Trade Nguyen Hong Dien to strengthen economic cooperation and explore new avenues for bilateral trade and investment. The high-level meeting took place in a spirit of mutual friendship and partnership, reflecting the growing economic and diplomatic ties between Pakistan and Vietnam. Both sides reaffirmed their commitment to deepening bilateral trade relations and explored key areas such as trade diversification, market access, investment promotion and collaboration in industrial development. The two ministers emphasised the need for enhanced business-to-business linkages, promotion of joint ventures and cooperation in the fields of textile, agriculture, pharmaceuticals, information technology and energy. Discussions also focused on reducing trade barriers and working towards the PTA. Jam Kamal highlighted Pakistan's strategic location and offered Vietnam greater access to Central Asian and Mideast markets through regional connectivity projects. Nguyen Hong Dien expressed Vietnam's interest in increasing imports of Pakistani rice, textiles and leather products and welcomed Pakistan's investment in Vietnam's manufacturing and tech sectors.
Yahoo
21-06-2025
- Business
- Yahoo
Vietnam, US hold negotiations on new trade deal, ministry says
HANOI (Reuters) -Vietnam and the United States held an online round of negotiations on a new trade deal on Thursday night, the Ministry of Industry and Trade said on Friday. During the negotiations with U.S. Secretary of Commerce Howard Lutnick and Trade Representative Jamieson Greer, Vietnamese trade minister Nguyen Hong Dien asked the U.S. to review "reciprocal tariffs" and market access for Vietnam's key exports, the ministry said in a statement. The Southeast Asian industrial hub has held several rounds of negotiations with the U.S. to strike a deal that would allow Vietnamese goods to avoid a 46% tariff rate, imposed largely as a result of its big trade surplus with Washington. "The negotiation round was conducted in a candid, friendly and constructive manner," the ministry said. Minister Dien also welcomed proposals from Lutnick and Greer during their talks, the ministry added without elaborating. Dien said Vietnam wants to develop with the U.S. a set of practical and harmonious rules of origin of goods that is in line with global supply chains, according to the statement.
Yahoo
20-06-2025
- Business
- Yahoo
Vietnam, US, hold negotiations on new trade deal, ministry says
HANOI (Reuters) -Vietnam and the United States held an online round of negotiations on a new trade deal on Thursday night, the Ministry of Industry and Trade said on Friday. During the negotiations with U.S. Secretary of Commerce Howard Lutnick and Trade Representative Jamieson Greer, Vietnamese trade minister Nguyen Hong Dien asked the U.S. to review "reciprocal tariffs" and market access for Vietnam's key exports, the ministry said in a statement.
