Effective solution to expand export market

Proactively adapt to market fluctuations

Regarding the export market, although it has maintained its position as a key export economy for nearly ten years, in the context of the world economy constantly facing major fluctuations, from changes in trade policies to disruptions in the global supply chain, Vietnam is still being strongly affected by these fluctuations.

Import and export goods waiting for customs clearance at Cat Lai port, Thu Duc city. Photo: Do ​​Doan

Mr. Nguyen Huu Nam - Deputy Director of the Vietnam Chamber of Commerce and Industry (VCCI) Branch in Ho Chi Minh City said that businesses must have flexible adaptation strategies, because changes in international trade policies from major economies such as the US, EU and China are creating significant challenges; at the same time, trade protection measures are increasing, making the flow of goods unpredictable and increasing risks for Vietnamese export enterprises.

''Logistics costs are also a major barrier. Ocean freight rates, warehousing costs and logistics operations are increasing, putting pressure on businesses' competitiveness. This forces businesses to optimize their supply chains and seek solutions to reduce costs,'' Mr. Nam said.

In 2024, Vietnam's total import-export turnover of goods will reach 786.29 billion USD, an increase of 15.4% compared to 2023, of which exports will increase by 14.3%, imports will increase by 16.7%, and the trade balance of goods will have a surplus of 24.77 billion USD.
According to Mr. Dang Thanh Son - Deputy Marketing Director of Saigon Newport Corporation, major shipping lines in the world are restructuring, adjusting shipping routes, merging or cutting the number of trips, affecting import-export schedules and freight rate fluctuations. Not only that, sustainable development standards are also posing new requirements for import-export activities.

''Major import markets such as the EU and the US are tightening regulations related to green supply chains, reducing carbon emissions and applying ESG (environmental, social and governance) standards. This requires Vietnamese businesses to quickly adapt by switching to a sustainable logistics model, optimizing energy in transportation and using environmentally friendly technology,'' Mr. Son recommended.

Simplifying customs procedures helps reduce logistics costs for businesses. Photo: Do ​​Doan

Increase logistics efficiency

Sharing about solutions to increase logistics efficiency to support import and export activities, Associate Professor Dr. Ho Thi Thu Hoa - Director of the Vietnam Logistics Research and Development Institute said that it is necessary to optimize the logistics system with new connection solutions to improve operational efficiency. One of the important solutions is to optimize regional connectivity to reduce waiting time, reduce costs and increase connection efficiency, circulation of goods, including expanding seaports, upgrading warehouses and enhancing connectivity between domestic logistics centers.

''In addition, effective coordination between logistics enterprises, industry associations and state management agencies plays an important role in removing difficulties for import-export enterprises. Tax support policies, financial incentives and simplified customs procedures need to be promoted to help enterprises reduce costs and increase flexibility in business operations...'' - Ms. Hoa emphasized.

In fact, despite facing many challenges, Vietnam’s economy has always had a strong rebound thanks to proactive adaptation, innovation and sustainable development strategies. The shift of the global supply chain, along with efforts to optimize logistics and improve competitiveness, is opening up great opportunities for Vietnamese enterprises to reach out to international markets.

In that context, investing in modern logistics infrastructure, promoting the application of digital technology and promoting strategic cooperation with global partners will be the key to helping Vietnam not only maintain its position as a production and trade center in the region, but also reach further on the world economic map.

Vietnam's logistics industry is currently facing urgent issues such as infrastructure modernization, increasing supply chain efficiency, promoting digital transformation, developing new logistics business models, and new fluctuations in the shipping industry...