Vietnamese goods account for only about 1% of total imports into the UK market. One of the reasons is that they have not yet built their own brands and have not focused on effective strategies and approaches to market information.
It is estimated that seafood exports to the US will reach $1.85 billion in 2024, representing a 19% increase compared to 2023.
After a period of downturn, many of Vietnam's main export products, such as textiles and footwear, have shown strong recovery, achieving double-digit growth rates.
The scale of Vietnamese supporting industry enterprises is mainly small and micro, so most of them have low technology and management levels and limited human resources.
Vietnamese consumers showed the highest level of optimism regarding their country’s economic outlook compared with their regional peers, according to a recent study by Singapore’s United Overseas Bank (UOB).
In the first ten months of 2024, total import-export turnover reached $647.87 billion, a year-on-year increase of 15.8 per cent, with exports rising by 14.9 per cent and imports by 16.8 per cent.
The industrial sector's share of GDP could be over 40 per cent, with the manufacturing and processing industry alone accounting for around 30 per cent of GDP.
Vietnamese businesses need to step up the building of close relationships with partners and associations in the US.
The Vietnamese logistics industry must adapt to new trends and enhance infrastructure to remain globally competitive, speakers said at an event in HCM City on Thursday.
Businesses are simultaneously under pressure from global and domestic supply chains, as environmental, social and human standards are constantly updated towards green and sustainable. Regulations on product quality and safety are therefore required to be higher. In particular, green energy transformation is an important turning point to reduce greenhouse gas emissions.
| The site is done with the technical support of the project BWTO |
