Washington's protectionism to face greater hurdles amid mounting costs: experts

Some localities with great potential for supporting industry development have proactively issued their own policies to support businesses in training human resources, helping businesses access the global production chain.

Việt Nam must continue to innovate its growth model by focusing on high technology, supporting innovative startups, and transitioning to a green economy, experts said.

More advanced manufacturing from Taiwan (China) will migrate to Việt Nam over the coming decades. Known as Taiwan’s prime destination for investment, the nation is confident it will win contracts.

Vietnam and Japan are participating in 4 bilateral and multilateral free trade agreements, Vietnamese enterprises need to take advantage of this to increase exports.

While the influx of imported goods has presented challenges, with signs of dumping and subsidisation impacting domestic industries, Vietnam has effectively countered these threats.

The UK is mulling an alternative strategy to its allies that could lead to a surge of imports of Chinese EVs.

In the first half of 2024, bilateral trade between Vietnam and China approached the US$100 billion mark, with Vietnam exporting US$27.8 billion worth of goods to China, a 5.3 percent increase from the previous year.

The allocated import tariff quota for sugar (HS code 17.01) through the auction method in 2024 is 126,000 metric tons.

The remaining months of 2024 look promising for Vietnamese businesses, with increased orders and improved business conditions.