Digital transformation and green growth expand trade opportunities

Vietnam joined ASEAN in 1995, at a time when the bloc was accelerating regional economic cooperation. According to Dr. Le Quoc Phuong, former deputy director of the Industry and Trade Information Center under the Ministry of Industry and Trade, ASEAN had gradually shifted from a political-security cooperation model toward a model centered on regional economic cooperation.

ASEAN later established the ASEAN Community with three pillars: political-security, economic, and socio-cultural. Although its level of integration has not reached that of the European Union, ASEAN has continued to advance regional integration through the ASEAN Community Vision 2045. Amid global economic uncertainties, the vision is regarded as an important direction for member states, including Vietnam.

According to the Ministry of Foreign Affairs, the 46th ASEAN Summit in May 2025 adopted the ASEAN Community Vision 2045 under the theme “ASEAN 2045: Our Shared Future,” along with four strategic plans covering Political-Security, Economic, Socio-Cultural and Connectivity pillars. At the 47th ASEAN Summit in October 2025, ASEAN leaders also approved the Initiative for ASEAN Integration (IAI) Work Plan V for 2026-2030.

The package comprises five key documents setting out strategic orientations and goals for the ASEAN Community in its next phase of development, particularly in promoting regional integration, strengthening ASEAN unity and centrality, expanding and deepening ties with partners, and enhancing resilience and adaptability in response to opportunities and challenges.

Economically, the ASEAN Vision 2045 prioritizes digital transformation, green growth and renewable energy development in an effort to build an integrated, connected and highly competitive economy. According to Phuong, these priorities are in line with Vietnam’s current development strategy, particularly in digital and green transformation.

He noted that ASEAN has placed a range of digital economy and digital trade issues on its agenda, including cross-border payments, e-commerce, digital signatures and digital data standards. If positive results are achieved, these measures will help facilitate faster and smoother trade between Vietnam and other ASEAN members.

These are also areas Vietnam has been actively pursuing. If ASEAN accelerates regional digital connectivity, Vietnamese businesses will have greater opportunities to expand markets and participate more deeply in regional value chains.

Alongside digital transformation, green growth is considered another major focus of the ASEAN Vision 2045. According to Phuong, the direction aligns with Vietnam’s green transition process, particularly following its commitment to achieving net-zero emissions by 2050.

As developed markets tighten environmental standards on imports, Vietnamese businesses are being forced to adjust production models toward energy efficiency, emissions reduction and environmentally friendly products.

According to Phuong, ASEAN’s push for cooperation in green economy and clean energy will support Vietnam’s green transition process.

He said that if the nation takes full advantage of the green transition, the country would not only have opportunities to increase exports to ASEAN markets but also expand into developed markets with strong demand for environmentally friendly products.

Digital and green transformation are also expected to help Vietnam attract more foreign investment. With advantages including a strategic location, large export scale and improving manufacturing capacity,  the country’s  attractiveness within global supply chains could increase significantly if the two transitions are implemented effectively.

Major opportunities come with tougher competition

Another notable focus of the ASEAN Vision 2045 is strengthening regional infrastructure connectivity and supply chains. This presents an opportunity for Vietnam to enhance its logistics role within ASEAN thanks to its strategic location between ASEAN and China, Phương said.

Major seaports such as Hai Phong and Ho Chi Minh City are playing an increasingly important role in regional logistics networks. As intra-ASEAN trade expands, Vietnam’s role in cargo transshipment is also expected to grow strongly.

However, according to him, opportunities always come with challenges as competition will intensify further as ASEAN becomes more open.  Vietnam must strengthen its competitiveness to fully capitalize on opportunities arising from regional integration, he added.

To turn opportunities under the ASEAN Vision 2045 into reality, Vietnam needs to accelerate digital and green transformation while improving the competitiveness of domestic businesses. The added value of many export products remains low, with production still heavily dependent on imported materials and processing activities.

The country needs to move from processing to manufacturing, increase domestic value-added content and further develop supporting industries. In addition, logistics costs remain higher than in many ASEAN members,  affecting the competitiveness of Vietnamese goods.

Phuong emphasized that Vietnam needs deeper integration and stronger domestic capacity to play a bigger role within ASEAN and globally.

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