Vietnam’s Rising Status as a Global Manufacturing Hub
Recent discussions at the 2025 Export Forum in Ho Chi Minh City have reaffirmed Vietnam’s emergence as a key player in global manufacturing. Deputy Minister of Industry and Trade, Phan Thị Thắng, articulated this growing recognition, emphasizing the nation’s capacity to provide a diverse range of high-quality, competitively priced products, especially in the post-pandemic landscape.
Strategic Location in Global Supply Chains
Amid ongoing global economic uncertainties, many corporations are adopting diversification strategies. Thắng pointed out that Vietnam is swiftly becoming a vital hub within these global supply chains. Companies, distributors, and e-commerce platforms are increasingly looking to Vietnam, recognizing its potential to secure sustainable supply lines.
The Ministry of Industry and Trade is taking proactive measures to enhance Vietnamese enterprises’ engagement in international distribution networks by 2030. This initiative includes organizing a series of events such as the Export Forum and the Vietnam International Sourcing Expo 2025, aimed at connecting local businesses with global distributors. Such events are essential for fostering deeper integration into the global market.
Impressive Trade Growth
Statistics reveal a robust trade trajectory for Vietnam. In 2022, total trade reached a remarkable $786 billion, with exports growing by 14.3% to $405 billion. The first seven months of 2025 showcased even more encouraging figures, as trade climbed to $515 billion, demonstrating a 16.3% year-on-year increase. These numbers suggest that the government’s annual growth target of 12% is well within reach.
Thắng attributed part of this success to free trade agreements (FTAs) that have significantly boosted exports. Agreements like the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), the EU-Vietnam Free Trade Agreement (EVFTA), and the UK-Vietnam Free Trade Agreement (UKVFTA) have opened vast market opportunities, enhancing confidence among businesses.
Transitioning to Co-Creation
A noteworthy aspect of this growth is Vietnam’s transition from being a subcontractor to a partner in product development and co-creation with international brands. Thắng expressed optimism that the discussions at the forum would enable Vietnamese companies to seize new opportunities while allowing global partners to appreciate Vietnam’s strengths and policies.
HCM City’s Development Initiatives
Trần Phú Lữ, the director of the Investment and Trade Promotion Centre of Ho Chi Minh City, stressed that the city is entering a transformative phase following its administrative reforms. HCM City is prioritizing institutional reforms, modern infrastructure, and promoting green industry models. These initiatives aim to enhance logistics, develop international seaports, and establish a regional financial centre, positioning the city as an export powerhouse.
The Export Forum serves as a crucial platform for dialogue between government bodies and businesses. This setting helps firms meet international standards and forge connections with global buyers, which is increasingly vital for thriving in today’s competitive markets.
Exploring New Opportunities in Latin America
International participants at the forum highlighted various new export opportunities. Victor Key, president of the Brazil-Vietnam Chamber of Commerce and Industry, emphasized the potential of Latin America. With over 650 million people and a burgeoning middle class, the region is opening up to trade in unprecedented ways. Key noted that Vietnam’s ability to offer quality and innovation positions it uniquely to meet the demands of Latin American markets.
Key pointed out that substantial interest exists in Vietnamese rice, fruits, seafood, textiles, and electronics among consumers in Brazil and beyond. He underscored the importance of adapting products to local preferences and building lasting partnerships to succeed in this promising market.
Walmart’s E-commerce Perspective
From the retail sector, Avaneesh Gupta, Senior Vice President of General Merchandising and Apparel Sourcing at Walmart, shared insights on the company’s vast reach and influence. With more than 10,500 stores across 19 countries and an impressive customer base of 255 million weekly shoppers, Walmart presents a monumental opportunity for Vietnamese sellers.
Gupta noted the company’s increasing emphasis on its e-commerce marketplace, which eliminates physical space constraints. This platform allows Vietnamese suppliers to bring their unique products directly to Walmart’s extensive customer base. He encouraged Vietnamese companies to embrace this opportunity as they navigate the evolving landscape of retail and e-commerce.
Insights from the Forum
The forum featured other esteemed speakers, including Paul Le, Vice President of Central Retail Vietnam, who discussed initiatives to promote Vietnamese goods abroad. Meanwhile, Fukui Tomoaki, Senior General Manager of AEON TOPVALU, shared insights on sustainable and effective export channels available to Vietnamese enterprises.
As Vietnam continues to solidify its role in global manufacturing and trade, the collective expertise and vision shared during the Export Forum illuminate a promising path ahead, one filled with opportunities for growth and collaboration on an international scale.