Faced with rising global trade tensions and export challenges, Vietnam is accelerating international integration through expanded free trade agreements (FTAs). Party General Secretary To Lam and Prime Minister Pham Minh Chinh emphasized the urgency of securing new-generation FTAs—especially with the US, EU, UK, and initiatives like DEPA and IPEF. Vietnam currently has 17 FTAs and is pursuing deals with Canada and the EFTA. Trade risks are growing due to overreliance on a few markets (e.g., the US and China), while foreign-invested enterprises (FIEs) dominate exports. To ensure sustainable growth, the government plans broader private sector support, streamlined administrative procedures, and digital trade infrastructure. Despite strong 2024 trade performance, structural weaknesses—including limited domestic firm participation and trade concentration—persist. With a $454.2 billion export target for 2025, Vietnam aims to diversify markets, attract investment, and strengthen its economic resilience through trade liberalization and private sector empowerment. (ICE HO CHI MINH CITY)

Fonte notizia: Vietnam Investment Review