According to economic experts, apart from expanding markets, companies are focusing on improving export quality, raising localization rates, adopting advanced technologies, and building sustainable supply chains. These measures enhance competitiveness, maximize the benefits of next-generation free trade agreements (FTAs), strengthen the Vietnamese brand, and stimulate long-term economic growth.

According to the General Statistics Office, over the period January–August, Vietnam’s exports reached approximately US$306 billion, up 14.8% year-on-year. This remarkable growth reinforces confidence in economic recovery and contributes to national growth momentum.

However, opportunities come with challenges. Geopolitical tensions, global value chain restructuring, and stringent trade policies from major markets such as the US and EU increase uncertainty. Additionally, non-tariff barriers, particularly regarding environmental, social, and governance (ESG) standards, compel Vietnamese companies to accelerate green transformation, digitalization, and localization to comply with origin rules and ensure transparency.

Nguyen Van Hoi, Director of the Institute for Strategy and Policy on Industry and Trade, underlines the crucial role of next-generation FTAs like the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the EU-Vietnam Free Trade Agreement (EVFTA). These agreements not only boost traditional trade but also raise standards in environmental protection, labor, and transparency, creating opportunities for foreign investors. As a result, Vietnam’s export turnover in 2024 approached US$800 billion, placing the country among the top 20 global trading nations.

Yet, Le Duy Binh, Director of Economica Vietnam, emphasizes that achieving scale should go hand in hand with quality. Expanding markets involves more than increasing volume; it also requires enhancing value-added content, raising localization rates, and developing domestic supporting industries. This approach helps management agencies, business communities, and foreign investors to better define sustainable growth strategies.

Vice President of the Vietnam Chamber of Commerce and Industry (VCCI), Hoang Quang Phong, concurs, stressing that in the face of rising non-tariff barriers and stringent ESG requirements, businesses must innovate to maintain growth and competitiveness both domestically and internationally. He adds, “Investing in green and digital transformation and increasing localization of inputs is essential to reduce dependence on imported materials, meet origin requirements, and ensure transparency. Companies also need effective strategies to approach new markets sustainably.”

Phi Ngoc Trinh, General Director of Ho Guom Garment Company, highlights that the textile sector should actively explore new markets such as Russia, Brazil, Eastern Europe, Latin America, and Africa, while also focusing on R&D, developing new products, improving existing ones, and applying digital technologies to enhance competitiveness. “Businesses need to capture fashion trends, launch products earlier to gain a competitive edge, and improve management and production processes through digital tools,” he says.

Experts state that accessing new markets is not only for large enterprises but also for small and medium-sized businesses, especially those with niche products. To reach out to the global market, these companies need strong collaboration, brand-building capable of competing abroad, and active support from trade associations and local authorities in leading, connecting, and facilitating growth.

The government also plays a critical role by implementing specific policies, improving infrastructure, and strengthening domestic and international linkages to form sustainable supply chains. This approach expands export scale while boosting competitiveness, deepening Vietnam’s integration into global value chains, and supporting long-term sustainable development.

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