Vietnam’s fruit and vegetable exports surged to a record high in 2023, yet insiders said it is just a start as ample room remains for the sector.

The Southeast Asian economy's trade surplus, however, remained positive at $125 billion this year, $33 billion with the EU and $92 billion with the US.

In response to a business illegally operating two cold storage warehouses and illegally importing a number of food products from Vietnam, it was subject to a fine of SG $36,000 (Singapore dollar) from Singapore authorities, the Vietnam Trade Office in Singapore recommends that Vietnamese food exporters need to pay attention to regulations in this market.

Thai Deputy Minister of Commerce Napintorn Srisunpang has said Thai fruit exports will face more challenges in the future, especially in China’s market, due to greater competition.

China's import and export tariff adjustments on some goods took effect on Monday, including implementing provisional import tariff rates lower than the most favored nation rates on 1,010 goods, implementing tariff rates on some commodities under agreements and applying preferential tariff rates to 43 least-developed countries (LDCs).

Although the Vietnamese textile and garment sector faced numerous challenges last year, it grossed more than US$40 billion in turnover thanks to a number of stable markets, according to industry insiders.

Cashew consumption demand in many markets has improved since the end of 2023, opening up brighter prospects for Vietnam's cashew exports in 2024. Besides the positivity of the market requires the efforts of businesses and supportive policies from the State to achieve business efficiency.

Increasing regional cohesiveness and China’s restructuring present new growth opportunities, says Patrick Lee

According to John Neuffer, President of the Semiconductor Industry Association (SIA) of the US, alongside policies to attract investors in the semiconductor industry with the participation of major enterprises, small and medium-sized enterprises are also important for Vietnam and need support to fully participate in the supply chain. This would further develop Vietnam's semiconductor industry and contribute to the global market.

The trend of business partnerships was becoming more and more popular in the modern economy because of the benefits it brought to the participating parties.