Vietnam's Import-Export Outlook in a Changing Landscape: Challenges & Solutions

Vietnam’s Import-Export Landscape 

In recent years, the global economy has experienced significant disruptions, ranging from shifting trade policies to supply chain interruptions. Despite these challenges, Vietnam’s trade performance in 2024 remained strong, with total import-export turnover reaching $786.29 billion, a 15.4% year-on-year increase. Exports grew by 14.3%, while imports rose 16.7%, leading to a trade surplus of $24.77 billion. As a key player in global trade for nearly a decade, Vietnam now faces both new opportunities and pressing challenges.

The forum provided a comprehensive analysis of the evolving economic landscape and its impact on Vietnam’s import-export sector. Key topics included the transformation of global logistics and maritime transport, the modernization of supply chains, and the rise of digitalization in trade operations. Experts also examined the challenges and opportunities for Vietnam’s leading export industries.

Mr. Bui Van Quy, Executive Vice President of Saigon Newport Corporation, delivered a keynote outlining the Forum's focus

Key Factors Impacting Vietnam’s Trade Sector

According to Mr. Nguyen Huu Nam, Deputy Director of the Vietnam Chamber of Commerce and Industry (VCCI) in Ho Chi Minh City, new trade policies from major economies like the U.S., EU, and China are creating uncertainties for exporters. Protectionist measures and stricter regulations have made trade flows less predictable, increasing risks for Vietnamese businesses.
Escalating freight rates, storage expenses, and logistics costs continue to challenge exporters. The increasing cost of maritime transport, combined with supply chain disruptions, is eroding competitiveness and forcing companies to optimize supply chain efficiency.

Mr. Nguyen Huu Nam, Deputy Director of the Vietnam Chamber of Commerce and Industry (VCCI) in Ho Chi Minh City

According to Mr. Dang Thanh Son, Deputy Marketing Director of SNP, the restructuring of global supply chains is presenting new growth opportunities for Vietnam as a regional manufacturing and export hub. Nevertheless, investment in logistics infrastructure is crucial to maintaining this competitive edge. Companies must enhance operational efficiency and optimize supply chains to meet the rising demands of international partners. Meanwhile, major global shipping lines are restructuring their operations, forming new alliances like Gemini and Premier Alliance, adjusting shipping routes, and merging or reducing services. These shifts are affecting freight schedules and pricing, requiring businesses to adapt swiftly.

International markets, particularly the EU and U.S., are tightening environmental regulations on supply chains, focusing on carbon footprint reduction and ESG (Environmental, Social, and Governance) compliance. This necessitates a transition to sustainable logistics, including energy-efficient transportation and eco-friendly supply chain solutions.

Mr. Dang Thanh Son, Deputy Marketing Director of SNP, presented on the shipping and logistics industry's impact on the evolving import-export market.

Strategic Solutions for Vietnam’s Trade and Logistics Sector
During the discussion session, Associate Professor, PhD. Ho Thi Thu Hoa, Director of the Vietnam Institute of Logistics and Development, led an in-depth discussion of potential solutions. Key recommendations included:

Discussion session featuring industry association representatives, logistics and economic experts.

Discussion Session with the connection and chairing of Associate Professor, PhD Ho Thi Thu Hoa - Director of Vietnam Logistics Research and Development Institute

• Optimizing Logistics Networks:

  To improve operational efficiency, Vietnam must enhance connectivity between logistics hubs by expanding seaports, upgrading storage facilities, and integrating multimodal transport systems. Saigon Newport Corporation, Vietnam’s leading port operator, is spearheading this effort with a nationwide ecosystem of ports, ICDs, and depots, including Tan Cang - Cat Lai Terminal, Tan Cang - Hiep Phuoc Terminal, and deep-water ports in Cai Mep (TCIT, TCTT, TCCT).

  One key initiative involves enhancing inland waterway connectivity between Cat Lai – Cai Mep – Hiep Phuoc, allowing vessels facing berth congestion at Cat Lai Terminal to dock at Cai Mep Terminals  or Hiep Phuoc Terminal, with cargo transported via waterways to Cat Lai for final handling. This solution helps reduce congestion, lower costs, and improve efficiency for businesses.

• Strengthening Public-Private Collaboration: Close cooperation between businesses, industry associations, and government agencies is essential to overcoming trade barriers. Streamlining customs procedures, tax incentives, and regulatory support can enhance business agility and foster long-term sectoral growth.
• Leveraging Free Trade Agreements (FTAs): Vietnam’s extensive network of free trade agreements (FTAs) serves as a critical tool to drive exports and mitigate the impact of new tariffs and trade barriers, particularly from the U.S. and EU.
• Enhancing Supply Chain Resilience: Businesses must diversify sourcing strategies, invest in flexible supply chain management, and adopt innovative solutions to remain competitive. Logistics remains the backbone of trade efficiency, making long-term strategic planning essential for sustainable success.
• Developing Fast-Track Shipping Solutions: Establishing reliable express shipping routes from Vietnam to key markets like the U.S. will enhance supply chain reliability, ensure on-time deliveries, and boost Vietnam’s competitiveness in the global marketplace.

Vietnam’s Trade Sector: Rising to New Heights
Despite ongoing challenges, Vietnam’s economy continues to demonstrate resilience, driven by innovation, adaptability, and sustainable development strategies. The realignment of global supply chains, coupled with proactive logistics optimization and competitiveness enhancement, is unlocking vast opportunities for Vietnamese enterprises on the international stage.
To secure its position as a regional trade and manufacturing powerhouse, Vietnam must invest in modern logistics infrastructure, embrace digital transformation, and foster strategic partnerships. With the collective efforts of industry stakeholders including SNP and leading business associations Vietnam’s trade sector is set to thrive in the evolving global economy and reach new heights on the world stage.
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(*Source: SNP)