Vietnam targets higher-value exports in new trade strategy

Vietnam is seeking to transition its export model from volume-driven growth toward higher value-added products and increased competitiveness. During a meeting regarding the draft import-export strategy for 2030 with a vision toward 2045, Deputy Minister of Industry and Trade Nguyen Sinh Nhat Tan emphasized that the new strategy must be practical and support the goal of achieving double-digit economic growth.

Experts suggest that for the country to expand its export margins, businesses must focus on market diversification, technological innovation, and the effective use of free trade agreements. The strategy aims to view trade through a lens of dynamic balance, integrating exports, imports, domestic production, and supply chains.

Furthermore, there is a strategic focus on the relationship between exports and foreign direct investment (FDI). By leveraging its network of free trade agreements, Vietnam aims to attract FDI that facilitates technology transfer and strengthens links with domestic companies. Trade promotion efforts are expected to target high-potential markets, including Europe, ASEAN, the Middle East, and Africa.