Vietnam’s total export-import turnover has hit almost $515 billion since the start of the year, Deputy Minister of Industry and Trade Phan Thi Thang noted at the Vietnam International Sourcing 2025 and Ho Chi Minh City Export Forum, held alongside the Ho Chi Minh City International Travel Expo on September 4.
At the opening ceremony, Thang highlighted that Vietnam’s export performance in the first seven months of 2025 reflects a broader shift in business models. Local enterprises are moving beyond pure outsourcing to become product development partners and co-creators with global brands.
“International businesses now increasingly see Vietnam as a leading regional manufacturing hub, offering a diverse range of goods at competitive prices with steadily improving quality,” she said.
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| Deputy Minister of Industry and Trade Phan Thi Thang |
According to the Ministry of Industry and Trade (MoIT), in 2024, Vietnam’s total import–export turnover exceeded $786 billion, with exports reaching $405 billion, up 14.3 per cent. Thirty-seven items surpassed the $1 billion mark, and eight items exceeded $10 billion.
“The target of 12 per cent growth in import-export turnover in 2025 is achievable, as in the first seven months Vietnam’s total export–import turnover reached nearly $515 billion, up over 16 per cent on-year. International tourism contributed about 8 per cent to Vietnam’s GDP in 2024, with over 18 million international arrivals, and this figure is expected to rise to 25 million in 2025,” Thang said.
Thang also noted that the Party, state, and government have recently introduced key strategies to sustain and accelerate economic growth. These include fostering the private sector, driving breakthroughs in science, technology, and innovation, renewing legal frameworks, and deepening international integration.
According to Ta Hoang Linh, director general of the Department of Foreign Market Development under the MoIT, Vietnam attracts investors thanks to its strategic geographical location, stable political environment, competitive labour costs, and a network of 17 free trade agreements with more than 60 countries, which helps businesses diversify supply chains and mitigate tariff-related risks.
However, Linh noted that Vietnamese enterprises also face numerous challenges that must be overcome, saying, “Although Vietnam’s workforce is young and abundant, in sectors such as semiconductors, high technology, logistics, and supply chain management, the number of internationally qualified personnel remains insufficient to meet the increasingly high demands of global partners.”
In addition, Linh added that trade barriers such as anti-dumping duties and trade defence investigations from the US and EU, along with fierce competition from foreign-invested enterprises, put domestic firms under pressure to improve product quality, strictly comply with rules of origin, and protect intellectual property.
To overcome these challenges, Linh believes that businesses need to enhance production capacity through technological investment, process optimisation, and compliance with international standards on quality and sustainability.
“Companies should also make full use of free trade agreements, master rules of origin to take advantage of tariff preferences and expand export markets,” said Linh. “Furthermore, building close relationships with distributors and international partners through trade promotion events, direct connections with importers, and cooperation with Vietnam’s overseas trade offices will help businesses access sustainable cooperation opportunities and strengthen global credibility.”
VIS 2025 and ITE HCMC 2025 gathered 450 purchasing delegations from 60 countries and territories to Vietnam to source products. These delegations included both traditional markets such as the US, the EU, Japan, and South Korea, as well as emerging potential regions such as the Middle East, Latin America, and Eastern European countries.
More than 400 Vietnamese businesses with 12,000 products, exhibited across 10,000 square metres, ranging from agricultural products, beverages, processed foods to consumer industrial goods such as textiles, footwear, furniture, packaging, and even supporting industries, participated in the connections. Sixty trade offices and branches worldwide also brought business delegations to the event.
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