- THE MOUTHPIECE OF THE VIETNAM ASSOCIATION OF SMALL AND MEDIUM ENTERPRISES
By February 2025, the EU will have new regulations affecting many important agricultural products from Vietnam, including coffee, pepper, rice, durian, banana, mango, and vegetables like onion, garlic, and chili.
Vietnam is a leading country in rice production and export but is currently facing many challenges in the rice industry in the last months of 2024.
Logistics costs have now increased by about 130% compared to the end of 2023. This reality has been pushing domestic export businesses into a state of freezing many export orders.
This is the assertion of Mr. Ngo Sy Hoai. He expressed confidence that with the improvement of the global economy and market conditions, demand for wood products will be boosted and export turnover will reach over USD 16 billion for the year.
Mr. Vu Ba Phu, Director of the Trade Promotion Agency, emphasized that the primary solution to enhance the effectiveness of trade promotion activities and boost exports is to focus on digital transformation.
Despite its rich agricultural resources, including major crops such as rice, coffee, and rubber, Vietnam faces significant challenges and fierce competition in accessing international markets for its agricultural exports.
Dr. Tran Dinh Thien highlights that China’s macroeconomy is currently grappling with substantial challenges, particularly in maintaining its export momentum.
Although the supply chain has gradually been restructured, in reality, most of Vietnam's industrial enterprises are still small and fragmented, unable to deeply participate in the value chain.
Vietnam's agricultural sector is a bright spot with increasing export potential. It is forecast that in 2024, Vietnam could reach an export level of nearly 60 billion USD, opening up great opportunities for sustainable development in this sector.
Currently, pepper prices on the international market have risen sharply, creating a significant opportunity for export companies. This increase has changed the competitive landscape and spurred the development of the pepper export industry.
The Vietnamese agriculture sector has made significant progress in recent years, and currently, the goal is to boost agricultural exports to reach $54 billion.
The shift towards a green economy is becoming a significant trend globally. Vietnam, with its vast potential for renewable energy and sustainable development, has early on recognized the opportunity to export green products through carbon credits.
According to Dr. Chu Thanh Tuan, Deputy Head of the Bachelor of Business program at RMIT University, the recent interest rate cuts by major central banks may impact Vietnam's export market.
On March 17, 2022, at the Export Showroom 92 - 96 Nguyen Hue in Ho Chi Minh City, the Ho Chi Minh City Investment and Trade Promotion Center (ITPC) hosted a seminar titled "Golden opportunity for exporting Vietnam to Middle Eastern countries following the Covid-19 pandemic" to assist city businesses in resuming production, identifying partners, and expanding export markets in the new context.
Vietnam's Association of Seafood Exporters and Producers (VASEP) says that shrimp exports in February of this year totalled 244.8 million dollars, which is up 55% from February of last year.
According to the founder of Selex Motors, the plan to export abroad came earlier than expected, and in the future, Selex Motors also aims to develop other markets in Southeast Asia.