Identifying drivers of import and export growth in depth.

Viet Nam needs to strengthen its production base, improve business capacity, effectively utilize FTAs, promote digital transformation, e-commerce, and "green" exports.

According to Mr. Tran Thanh Hai, Deputy Director of the Import-Export Department ( Ministry of Industry and Trade ), to promote exports, it is first necessary to build a strong production base, both industrial and agricultural, with foundational industries and key products as pillars.

Along with that, it is essential to enhance domestic value through science and technology. Production development should not only focus on expansion but also rely on the application of technology, especially in the context of AI profoundly impacting production and business operations. Proactively securing raw materials and boosting research and development (R&D) are also key requirements.

From a market perspective, it is necessary to continue negotiating new FTAs ​​and upgrading existing ones. Despite having signed 17 FTAs, Viet Nam still has room for growth in South Asia, the Middle East, Africa, and Latin America; several avenues are being explored, such as Mercosur or the Gulf Cooperation Council (GCC).

Simultaneously, it is necessary to promote cross-border e-commerce, especially B2B e-commerce serving exports, while diversifying markets to reduce dependence and disperse risks.

Trade promotion needs to be reformed towards brand building, enhanced traceability, and compliance with standards – especially environmental standards and emission reduction – which are increasingly becoming conditions for market access and competitive advantage.

Finally, trade facilitation and logistics development aim to shorten delivery times and reduce costs for goods reaching customers. Given that logistics costs still account for a significant portion of product prices, leveraging geoeconomic advantages and enhancing the capacity of domestic logistics businesses is considered a crucial factor for exports and the competitiveness of the economy.

Develop a financial system to support exports.

According to economist Dr. Can Van Luc, international experience shows that to promote sustainable exports, a long-term development strategy is needed first, clearly defining the role of exports in economic growth. The state plays a leading and planning role, but implementation must adhere to market principles and ensure fair competition.

Successful nations prioritize human resource development and technological capability enhancement through investment in education, vocational training, and R&D. Infrastructure and logistics are considered fundamental, with integrated investments in seaports, highways, and economic zones and special economic zones to reduce costs and increase connectivity.

Simultaneously, it is necessary to build a financial system to support exports, including policy banks, credit insurance, and loan guarantee funds for businesses. The domestic competitive environment also needs to be improved, creating a level playing field between domestic and FDI enterprises. In particular, the quality of institutions must be enhanced to ensure that export support policies are implemented transparently, effectively, and with independent oversight.

Regarding trade and export promotion, Dr. Can Van Luc emphasized the need to maintain the export front while diversifying markets and effectively utilizing FTAs ​​such as EVFTA, CPTPP, and RCEP to reduce dependence on a few traditional markets and enhance resilience to geopolitical fluctuations. Along with goods, it is necessary to boost the export of services, especially logistics and tourism; and to innovate promotion methods, enhance the role of the Trade Promotion Department and the system of Vietnamese trade offices abroad, linked to building a national brand.

From a financial perspective, the focus is on expanding access to credit for domestic businesses, especially small and medium-sized enterprises (SMEs), through guarantee funds and improving the efficiency of the SME Development Fund. Simultaneously, preferential credit packages should be implemented for technological transformation in key export industries; export and import financing, supply chain financing, and green credit should be promoted. Tax and refund policies need to continue reforming towards simplifying procedures and shortening processing times to increase working capital for businesses.

To enhance competitiveness, businesses need to shift strongly towards in-depth production, advanced processing, and deeper participation in global value chains. This is linked to technological innovation, human resource development, digital transformation, increasing the localization rate, and developing supporting industries. Along with this, it is necessary to encourage FDI enterprises to increase their use of components and products from domestic suppliers; focus on developing high-tech products, building and protecting brands, and forming large enterprises in strategic industries.

Regarding the "greening" of exports, it is necessary to accelerate investment in green infrastructure, energy saving, and carbon emission reduction; and promote a circular economy linked to digital transformation. Facing green technical barriers, businesses need to conduct greenhouse gas inventories, ensure supply chain transparency, and digitize traceability. Logistics must also become green through multimodal transport, smart warehousing, and the use of clean energy, while leveraging the role of green finance and carbon markets in supporting export businesses.

"Gathering wind to create a storm," maximizing every export opportunity.

Mr. Phan Duc Hieu, Standing Member of the National Assembly's Economic Committee, believes that, in addition to key export items, there needs to be a "gathering small gains to create a big impact" mindset, maximizing all export potential. Not only key export products, but also small-scale products, if they have export potential, should be promoted. In reality, many products not yet designated as key export items still have significant potential, even with higher localization rates than some prioritized products. This approach helps mobilize social resources broadly, especially from small and medium-sized enterprises, through e-commerce and new forms of trade.

Regarding policy, Mr. Phan Duc Hieu emphasized that, in addition to continuing to expand FTAs, it is more important to effectively utilize the 17 agreements already signed. A clear assessment of the actual benefits received by businesses, especially small and micro-enterprises and production households, is necessary. Currently, many entities have export needs but have not yet accessed FTAs, requiring more comprehensive and flexible support policies.

Based on practical experience, he suggested a model for organizing export through intermediaries, allowing many small businesses to link up to form a sufficiently large scale, ensuring quality standards, unified processes, and stable production. This model helps consolidate goods, ensure consistent quality control, and improve access to international markets. At the same time, it is necessary to study the possibility of Vietnamese businesses proactively establishing legal entities abroad to organize import and export activities, reducing dependence on intermediaries.

In particular, he emphasized the role of branding, especially for agricultural products like coffee. Vietnamese coffee brands in the international market are currently weak, lacking fundamental information about varieties, blends, roasting levels, bean quality, growing regions, and production processes. This lack of a "product story" makes it difficult for consumers to identify and choose Vietnamese products, even though Viet Nam has established a position on the world coffee map.

According to Mr. Phan Duc Hieu, investing in branding is a necessary and effective investment, in which the State plays a supporting role and businesses are the beneficiaries. Policies need to encompass small-scale products, harmoniously combining grand objectives with the accumulated value from smaller segments, thereby creating a sustainable foundation for export growth in the coming period.

Source: VTV