The Ministry of Industry and Trade of Vietnam is taking a series of forward-looking measures to boost the country’s trade and export growth and respond to the changing challenges of the global markets. In a recent interview, Minister Nguyen Hong Ying stressed that 2024 will focus on strengthening trade relations with major markets and helping explore emerging and potential export markets. These measures are aimed at ensuring that Vietnamins stable export growth in an uncertain global economic environment, while also opening new growth paths for.

To the export target of $377 billion in 2024, which is a 6% increase, the Ministry of Industry and Trade of Vietnam will take a series of key measures, including effectively leveraging existing Free Trade Agreements (FTAs) and negotiating new agreements to expand export markets and enrich imports and exports and supply chains.

In addition, strengthening trade promotion activities on focus and potential markets is also an important strategy of the Ministry of Industry and Trade. This includes promoting the combination of official exports and brand building to sustainable exports. Through this way, Vietnam hopes not only to increase market share of its products, but also to increase the international awareness of the national brand.

Implementing goods import and export strategies and action plans, developing logistics services, developing rice export markets, and supporting enterprises in overcoming import trade barriers are all to help Vietnamese enterprises remain competitive in the increasingly complex global trade environment.Through these comprehensive measures, Vietnamese Ministry of Industry and Trade aims to enhance Vietnamese enterprises’ position in global markets, especially in emerging and potential markets.

Particularly noteworthy is the fact that the Ministry of Industry and Trade plans to conduct concentrated and large-scale promotional activities aimed at special target markets, launching industries and products with regional advantages.This shows that Vietnam is not only committed to increasing market share in traditional markets, but also actively seeking new opportunities in the global market.

Actively promoting multilateral cooperation within the framework of international organizations, such as through events such as the 9th Vietnam National Brand Product Evaluation, and promoting the national brand program, is another focus of the Ministry of Industry and Trade strategy.Through these activities, Vietnam hopes to cultivate and enhance national, industry and product brands, thereby adding value to the national brand and developing sustainable exports.

In addition, increasing the capacity of enterprises to promote brand building and development is key to ensuring that Vietnamese enterprises can gradually enhance their position in the global value chain.The implementation of this series of measures by the Ministry of Industry and Trade demonstrates the commitment of the Vietnamese government to enhance the national export capacity and brand value, as well as the determination to fully support business and economic development.