At the meeting, Deputy Minister of Industry and Trade Phan Thi Thang emphasized that as the global economy faces unpredictable fluctuations, Vietnam is also affected by these trends. These changes not only have a profound impact on businesses but also significantly influence the national economy. Keeping up with and implementing new regulations is crucial to ensuring stability and promoting growth in Vietnam's international trade.
Recently, the Government has amended several key regulations on import and export. One notable change is the adjustment of payment methods in cross-border trade. Specifically, cash payments are now only allowed for transactions conducted by border residents, reducing risks for businesses and regulatory agencies.
Ms. Phan Thi Thang also noted that Vietnam’s total export turnover is projected to grow by 12 percent to 14 percent in 2025. However, this growth comes with challenges as major economies continue trade wars and implement protectionist policies. Vietnamese businesses must swiftly adapt to changes in tariffs, rules of origin, and quality standards when exporting to demanding markets such as the EU and the US.
Many businesses believe that these new regulations not only present challenges for domestic enterprises but also create significant opportunities for growth. Updating legal requirements, such as changes in payment methods and the introduction of new quality standards, will strengthen the competitiveness of Vietnamese businesses in the global market.
For major exporters, new rules on product origin and traceability will facilitate access to high-standard markets like the EU and the US. However, to capitalize on these opportunities, businesses must proactively stay updated with information from the Ministry of Industry and Trade and relevant authorities to ensure full compliance with regulatory requirements.
The advancement of new technologies in supporting industries and export sectors is another crucial factor. In 2025, the Ministry of Industry and Trade aims to accelerate the development of supporting industries and domestic consumer goods. This requires businesses to embrace continuous innovation, enhance product quality, and align with international market demands. Staying ahead of market trends, adopting effective strategies, and improving competitiveness will be essential.
Collaboration between regulatory bodies, industry associations, and businesses will be key to achieving Vietnam’s export growth targets for 2025 and the coming years. The ability to adapt and implement new regulations in a timely manner will be a decisive factor in helping businesses maintain competitiveness and thrive in an increasingly dynamic global economy.
