Vietnam Climbs Global Supply Chain Ladder with Robust Supply Capacity

Vietnam is focusing on strengthening domestic supply chain linkages and enhancing the competitiveness of its manufacturers to solidify its position in the global supply chain. Experts caution against falling into a "technology protectionism trap" by investing heavily in products that serve only the domestic market and lack international competitiveness. A platform is being developed to strengthen domestic supply chain linkages, increase localization rates, and improve the competitiveness of Vietnamese manufacturers in global production networks. Exhibitions are showcasing over 40,000 export products across key sectors such as fashion and accessories, home and gifts, electronics and home appliances, and packaging and printing. To achieve this year's export target of US$48 billion, Vietnam recognizes that simply expanding production capacity is insufficient. Greater productivity, higher value addition, stronger domestic sourcing, broader market diversification, and faster digital and green transformation are essential. Strengthening exporters' capacity to meet international standards and optimizing logistics and distribution networks are crucial for safeguarding its position in markets like the Middle East. In terms of economic growth, the country will prioritize attracting high-quality investment, particularly projects capable of driving innovation, technology transfer, workforce development, and wider economic spillover effects. Vietnamese businesses are also accelerating the adoption of circular economy practices to improve competitiveness, reduce emissions, and meet increasingly stringent sustainability standards. Regarding currency, as of July 25, Vietcombank and BIDV listed the buying rate for the USD at VND 26,110 and the selling rate at VND 26,490. With the current trading band of +/- 5%, the ceiling rate for commercial banks during the day is VND 26,515, and the floor rate is VND 23,989. Infrastructure development is also progressing, with the acceleration of major road projects around Long Thanh International Airport to complement expressways and ring roads linked to the country's largest airport. Major aviation infrastructure facilities at the airport, including runways and the passenger terminal, are nearing completion. Amid persistent geopolitical uncertainties, Vietnam is committed to enhancing its competitiveness in global supply chains by strengthening its exporters' capacity to meet international standards and optimizing logistics and distribution networks. Source: VietnamPlus English