Enhance export capacity

In the first months of the year, the province's export turnover has tended to increase sharply. This is a positive signal, and also a condition for enterprises to improve their capacity and solutions to exploit traditional markets and expand new markets.

Enterprises exporting goods at Cat Lai port - Ho Chi Minh City.

Exports increased sharply

In the first months of the year, the production and export situation of enterprises in the province is not outside the growth trend of the whole country. According to the Department of Industry and Trade, the total export turnover in March reached about 100 million USD, the total export turnover in the first 3 months of 2025 reached 280 million USD, an increase of 20% over the same period.

Meanwhile, according to the Management Board of Industrial Parks, since the beginning of the year, the production situation of enterprises in industrial parks has been stable, enterprises also have signed orders or new orders. Therefore, the industrial production value in the first quarter reached over 5,385 billion VND, up 33.46% over the same period; revenue reached over 8,525 billion VND, up 45.84% over the same period. The export situation of enterprises increased sharply, reaching nearly 204 million USD, up nearly 30% over the same period and reaching 26.08% of the plan of 780 million USD; imports reached nearly 111 million USD, up more than 50% over the same period.

According to the leader of Furukawa Automotive Systems Vinh Long Co., Ltd. (Vietnam), the production situation of the unit is stable with an increase in the number of orders. The company is also urgently recruiting monthly labor to meet production needs. In general, the production situation in the first months of 2025 is more positive than every year.

Actively expand new, potential markets

Although the export situation is positive, the latest difficulty has just appeared when the US announced the application of a 46% reciprocal import tax on 90% of goods from Vietnam. According to experts, this tax rate will cause many challenges for Vietnamese enterprises. Accordingly, the 46% tax rate increases the cost of Vietnamese products in the US market, reducing competitiveness compared to other countries in the region.

With this tax rate, increased costs may lead to reduced demand, negatively affecting the revenue and profits of enterprises. At the same time, it will disrupt the supply chain, enterprises dependent on the global supply chain may have difficulty maintaining production and export activities. Especially affecting key export industries such as: textiles and footwear; electronics; agricultural products and seafood...

According to Mr. Nguyen Tuong Nam - Chairman of the Provincial Business Association, Vinh Long currently has about 4,000 enterprises operating on the registration system. However, only 1% of these are large-scale enterprises, the rest are small, medium and micro-sized. Therefore, fierce competition in the domestic market as well as export is extremely difficult.

Businesses need to proactively exploit traditional markets and expand to new markets. Illustrative photo

According to Mr. Nam, in the face of upcoming difficulties, businesses need support from all levels such as trade promotion, business connection, capital connection, brand support, brand investment, etc. In particular, businesses need to research and learn about the free trade agreements that Vietnam has signed in order to exploit traditional markets as well as proactively expand new, potential markets.

Meanwhile, in the context of exports forecast to continue facing many difficulties, the Ministry of Industry and Trade said it will closely coordinate with the Vietnamese business community and FDI enterprises investing and doing business in Vietnam to effectively implement solutions to promote export growth in 2025.

Accordingly, enterprises need to proactively and effectively utilize 17 free trade agreements signed with more than 60 countries and territories; along with more than 70 bilateral economic and trade cooperation mechanisms.

At the same time, it is recommended that export enterprises proactively implement a number of solutions such as: regularly updating market information and trade policies from partner countries to adjust appropriate strategies; promoting the diversification of export markets, continuing to promote FTA negotiations with new markets such as the Middle East, Latin America, Central Asia and other emerging markets. Improving product quality, meeting technical, labor and environmental standards to increase competitiveness and limit the risk of trade defense...

In addition, localities and enterprises need to strengthen trade promotion activities, support enterprises in improving production and export capacity, promote export restructuring, towards sustainable development, greening, digitalization, innovation and improving economic autonomy;...

Vinh Long province has issued the project "Improving export capacity of Vinh Long province in the period of 2021-2025". Accordingly, in 2025, the Department of Industry and Trade will continue to build, complete and update the database of import-export enterprises. At the same time, it will support trade promotion at international import-export fairs at home and abroad, guide the application of common standards in major export markets that are likely to create trade barriers for Vietnam's export products and goods; organize import-export training courses for import-export enterprises and cooperatives, etc.

Article and photos: KHANH DUY

Source: https://baovinhlong.vn/kinh-te/202504/nang-cao-nang-luc-xuat-khau-c4d62bc/