Vietnam seeks to sustain export growth

Global trade is facing mounting volatility, with rising logistics costs and energy prices posing fresh challenges. For Vietnam, an economy with a high degree of openness, maintaining export growth remains a top priority in economic governance and development.

Vietnamese and foreign enterprises explore business opportunities at a trade promotion event organized by the Dong Nai Provincial People’s Committee. Photo: Vuong The

In 2026, export promotion strategies are focused on diversifying markets, effectively leveraging free trade agreements (FTAs), and expanding into new markets. In parallel, close monitoring of market developments, along with efforts to timely help enterprises out of difficulties and to reduce logistics costs are seen as essential to sustaining export momentum.

Responding to global uncertainties

In the early months of 2026, fluctuations in the global market have affected Vietnam’s production, business and export activities. Nevertheless, in the first two months of the year, the country’s export turnover continued to grow strongly, reaching USD76.4 billion, up 18.3 percent year-on-year.

To further boost exports and remove bottlenecks for businesses, Prime Minister Pham Minh Chinh issued a directive to ministries, sectors, localities, state-owned groups and corporations, calling for proactive and flexible adaptation to global and regional developments.

Accordingly, the highest priority must be given to maintaining macroeconomic stability, controlling inflation, promoting growth and ensuring major economic balances. At the same time, authorities are urged to promptly address difficulties in import-export activities, while diversifying markets, products and supply chains, and accelerating production and export projects. Preparations are also underway for working with the United States to speed up the signing of a balanced and fair reciprocal tariff agreement.

For the industry and trade sector in particular, the Prime Minister requested stronger support for localities, industry associations and enterprises to make full use of FTAs to which Vietnam is a party, especially those with the European Union, the United Kingdom and Northern Ireland, the Eurasian Economic Union, and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). Efforts are also being stepped up to negotiate and sign similar agreements with other countries, thereby expanding export markets.

In Dong Nai, at a handover meeting reviewing socio-economic performance in the first two months of 2026 and outlining growth solutions for the first quarter and the whole year, Deputy Secretary of the Provincial Party Committee and Chairman of the Provincial People’s Committee Nguyen Van Ut urged departments, sectors and localities to focus on resolving difficulties facing businesses. This includes assessing both domestic and international developments to develop appropriate policy responses, while ensuring energy security and sufficient fuel and power supply for production, business and daily life activities.

He also stressed the need to reform and better coordinate trade promotion activities in line with market realities and business needs, with a focus on key, emerging and less conflict-affected markets, alongside continued diversification of both export and import markets.

According to Nguyen Duy Hung, Vice Chairman of the Dong Nai Import-Export Association, amid current uncertainties, enterprises need to adopt flexible plans, proactively secure raw materials and fuel, and cut logistics costs. In the import-export sector, businesses also expect further administrative reforms, particularly more streamlined customs procedures and wider application of electronic customs systems to shorten clearance times, thereby contributing to reducing cost pressures for enterprises.

Toward sustainable development

Dong Nai remains one of Vietnam’s leading export hubs. In 2025, the province recorded export turnover of USD34.6 billion. In recent years, local enterprises have gradually diversified their export markets while taking advantage of bilateral and multilateral FTAs.

Export market diversification is increasingly viewed as a long-term strategy. In addition to key markets such as the United States, Northeast Asia and Europe—with evolving policies and stringent environmental standards—Dong Nai’s enterprises have been expanding into Southeast Asia, Africa and Latin America.

At the national level, experts suggest that the export structure needs to be rebalanced over time. Currently, export turnover is heavily concentrated in some export items such as electronics, mobile phones and machinery, which are vulnerable to policy changes, trade conflicts and global supply chain disruptions. Moreover, dependence on a limited number of major markets creates imbalances and heightens risks when demand or policies change. Strengthening domestic enterprises is therefore essential, as more than 70 percent of Vietnam’s export turnover has long been generated by foreign-direct investment (FDI) enterprises.

According to Tran Thanh Hai, Deputy Director of the Agency of Foreign Trade under the Ministry of Industry and Trade, exports can only be sustainable when underpinned by strong industrial and agricultural production base capable of stable and flexible supply. Developing foundational industries—particularly those that support key export sectors—is seen as a prerequisite for Vietnamese-branded products to secure a firm foothold in global markets.

By Vuong The – Translated by M.Nguyet, Thu Ha