Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasized that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the U.S. market. He elaborated that logistics is the key to reduce cost, minimize the impact of tariffs, strengthen supply chains, and expand market penetration opportunities.
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The workshop held in Hanoi on June 19 |
The US has long served as Vietnam's premier export destination, with bilateral trade reaching over 100 billion USD in 2024 and representing a substantial portion of the country's total export revenue. However, the new tariff landscape, including anti-dumping measures and reciprocal duties, has challenged Vietnamese producers.
Against the backdrop, it is a must for enterprises to optimize supply and logistic chains to uphold their competitive edge, he said, stating the adoption of such advanced technologies like AI and blockchain in logistics operation, together with the leverage of new-generation free trade agreements, are seen as critical tools to reduce costs and improve transparency while meeting stringent standards of the US market.
As of the end of May, Vietnam’s total trade turnover reached over 355 billion USD, marking a 15.7% increase year-on-year, according to MoIT data. The logistics, green industry, and high-tech sectors are seeing rising interest from global investors, especially from the US, Singapore, the Republic of Korea, and Japan, representing promising opportunities for Vietnamese enterprises to secure technology transfers, upgrade logistics infrastructure, and expand export markets.
Hung said along with market information, tariff policy updates, and intensive training courses on supply chain management, the ministry has paid due attention to logistics management, ensuring a smooth, efficient, and legally compliant logistics chain amidst intensifying global trade competition
The Trade Promotion Agency is committed to accompanying Vietnamese enterprises in enhancing logistics capacity, Hung stated, adding it is driving sustainable logistics solutions, promoting high-tech applications, and building a national brand for export products. These efforts are aimed at empowering Vietnamese businesses to thrive on the international stage, particularly in the US, a market full of both opportunities and challenges.
Meanwhile, Deputy Director General of the MoIT’s Agency for Foreign Trade Tran Thanh Hai warned of multiple challenges for Vietnam’s logistics sector, including falling demand for logistics services due to declining exports, market volatility, reduction in FDI inflows which could impact the formation of high-value supply chains, and competitive pressure from countries with similar production models.
In short term, together with trade negotiations with the US, Hai said it is necessary to adjust economic policies in response to the new situation, accelerate the disbursement of public capital, upgrade infrastructure, and continue support for enterprises with access to credit, loan guarantees, market data, and trade promotion efforts.
In long term, he advocated for continued FTA negotiations and signing to diversify markets, increase the locally-made rate, and move towards sustainable supply chains. Besides, institutional reforms, trade and investment transparency, and a business-friendly environment are also essential to form a contingent of pioneering Vietnamese enterprises.
Hai also suggested the business community develop long-term strategies, anticipate risks, enhance supply chain partnerships, and expand customer bases, adding they should build brands, capitalize on e-commerce, and avoid trade fraud.
US President Trump signed an executive order on April 2, imposing reciprocal tariffs on all imports from US trading partners. Although he announced a 90-day suspension for most countries, except for China, a week later, a 10% tariff has been imposed on goods from Vietnam and 55 other countries. From June 4, a 50% tariff has been levied steel and aluminum imports from all countries except for the UK. Negotiations between Vietnam and the US on reciprocal trade measures are underway.
Source: VNA