Business News

The wood and wood products industry holds a prominent position in Việt Nam’s export landscape, but to maintain and accelerate growth, the sector must swiftly expand into new markets and avoid overreliance on a few key destinations. With an export value of nearly US$10 billion in the first seven months of this year, the sector not only ranks among the country's top five largest export industries but also leads in the agriculture–forestry–fishery group.

The United States recently imposed a 20 per cent countervailing tax on goods originating from Việt Nam, a level that presents challenges but remains manageable for domestic enterprises. Many Vietnamese firms are responding proactively by restructuring operations, standardising production and diversifying export markets to maintain growth momentum amid these new trade barriers.

Pangasius is riding the wave as one of Việt Nam’s top seafood exports, showing strong resilience and adaptability despite the ups and downs of global trade. In the first seven months of 2025, export turnover surged past US$1.2 billion, up 11 per cent year-on-year, highlighting the sector’s impressive momentum. According to the Việt Nam Association of Seafood Exporters and Producers (VASEP), China and Hong Kong remained the largest markets, with export value hitting $302 million, accounting for nearly 25 per cent of total shipments.

According to the municipal Department of Finance, more than 1,000 new projects have been licensed, with a total value of $1.3 billion. Additional growth came from capital increases, contributions, and share purchases. Much of the investment has been concentrated in export processing zones, industrial parks, and high-tech sectors.

Starting with the memorandum of understanding (MoU) signed on February 9, 2023, the green and digital economic partnership not only injects a new momentum into economic growth but also contributes to shaping a sustainable development model within ASEAN. The two countries are leveraging their strengths in technology, finance, and resources to foster green growth and effective digital transformation.

Việt Nam’s trade activities remained vibrant in the first half of August 2025, with total import-export turnover exceeding US$40.36 billion, according to preliminary data released by the Department of Customs under the Ministry of Finance. Following a record-breaking July, which saw trade turnover surpass $80 billion, the momentum continued into August.

Vietnam's supporting industry has made positive strides, driven by a growing number of businesses joining global supply chains. However, the technological capacity of most Vietnamese supporting industry companies still falls short of requirements, limiting their ability to integrate into the global value chains of leading technology firms.

In the first seven months of 2025, Viet Nam shipped 5.5 million tons of rice worth US$2.81 billion, up 3.1 percent in volume, down 15.9 percent in value. The country has introduced a unique rice variety unavailable anywhere else, which has already secured large orders from Japan at premium rates. Domestic enterprises continue to expand exports to Africa, a promising but high-risk market due to slow payments.