The diverse, high-quality FTA network acts as a “highway” that facilitates Vietnam to integrate with the world faster. However, it is the people and businesses who decide on the vehicles, as well as the fuel and energy.

According to Mr. Truong Van Cam, Vice President and General Secretary of the Vietnam Textile and Apparel Association (Vitas), the high inflation rate in major textile and garment consuming markets such as the US, EU is affecting orders and unit prices of textile enterprises from now until the end of 2022. Many businesses are facing a shortage of orders.

With great potential and room to develop agriculture, ASEAN is looking to further promote local resources for rural economic development.

As reflected by businesses to Government leaders, rising costs have been a big challenge affecting the speed of recovery and growth in the last months of the year.

Vietnam recorded a trade surplus of US$3.96 billion over the first eight months of the year, with the total import and export turnover of goods rising by 15.5% year on year to US$497.64 billion, according to figures given by the General Statistics Office (GSO).

The increasing number of manufacturing projects set up by behemoths like Apple, Foxconn and Lotte show that Vietnam is going up the global value chain, analysts say.

According to VASEP, consumer demand for seafood in the Chinese market is increasing but domestic seafood supply is facing a shortage, which has led to an increase in seafood imports in recent years.

The Chips Act will disrupt semiconductor cooperation and investment between China and the US, and hurt the interests of global chip companies, the CCPIT says

Vietnam will move to attract large enterprises and corporations with high technology, said Nguyen Anh Tuan, deputy director of the Ministry of Planning and Investment's Foreign Investment Agency.

Contrary to the high number of orders early this year, many enterprises in the wood and wooden furniture sector in Vietnam are seeking ways to boost sales in the domestic market and access new export markets to maintain production and business as well as minimize losses.