The event attracted more than 100 representatives from businesses, investors, and economic experts.
At the event, participants discussed macroeconomic issues, particularly the impact of President Donald J. Trump’s new trade policies on Vietnam.
Suan Teck Kin, Head of Research and Executive Director, Global Economics and Markets Research, at UOB, said that the tariffs imposed by the United States could increase costs and create difficulties for export-driven economies, especially when countries in the region are primarily dependent on the US and Chinese markets. Export products from ASEAN in general, and Vietnam in particular, will face the risk of higher tariffs, which reduces the competitiveness of regional products in the global market.
In addition, global financial instability will also be a significant factor affecting the economies of ASEAN. Exchange rate fluctuations and changes in monetary policies of major countries, particularly the United States, could create significant risks to developing economies in the region. Specifically, the strengthening of the dollar could cause import inflation and reduce export capacity, creating challenges for ASEAN businesses.
Another challenge faced by ASEAN is the global supply chain shift. Changes in trade policies, especially the trade conflict between the U.S. and China, have been causing significant disruptions in global supply chains, leading to a decline in foreign direct investment (FDI) in Southeast Asian countries and impacting the competitiveness of the region's economy.
According to experts, ASEAN countries, including Vietnam, need to diversify their export markets and reduce dependence on major markets, such as the US and Chinese markets, invest in domestic infrastructure, focus on building and improving transport infrastructure, seaports, and industrial zones, improve export efficiency, and maintain and implement sound financial policies to support businesses in coping with challenges.
