Vietnam Focuses on Strengthening Export Brands for Global Market Presence

Vietnam is at a turning point in its export strategy, aiming to move beyond reliance on raw and primary product exports. The country is set to implement the 'GoGlobal Programme' from 2026 to 2030, with the goal of enhancing the value of its exports through brand building and increased competitiveness in international markets. This initiative is positioned as a key economic strategy under Vietnam's one-party system, designed to foster sustainable economic growth and expand its global influence. Leveraging its position as Canada's largest trading partner in ASEAN, Vietnam is expanding economic ties into higher value-added areas such as clean energy, critical minerals, advanced technology, manufacturing, and value-chain linkages, building on the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). This move can be interpreted as an effort to reduce economic dependence on China while simultaneously enhancing Vietnam's presence in global supply chains. Domestically, accelerating public investment disbursement is a top priority. The aim is to ensure 100% of the allocated plan is disbursed early in the year, avoiding concentration of funds in the final months to stimulate stable economic activity. At the provincial level, efforts are underway to sharpen competitive edges in logistics, semiconductors, and advanced technology, fostering a more resilient economic ecosystem through regional synergies. In terms of exports, the leather and footwear sector recorded over 2.45 billion USD in August, showing a year-on-year increase despite a monthly decline. The Vietnam Trade Promotion Agency (Vietrade) is implementing programs to help businesses gain practical market information, identify potential products and partners, and better understand market requirements, thereby supporting product adaptation and the development of effective export strategies. Furthermore, Vietnam is drawing lessons from models like South Korea's smart agriculture development and the long-term production base established by foreign firms such as France's Bel. In its international engagement, Vietnam actively participates in the World Trade Organization's (WTO) agenda, supporting its coordinating role in promoting inclusive and balanced global trade. The country has also called on Indian groups like ACME Group and GMR Group to expand investment and cooperation in sectors such as clean energy, green industry, high technology, and infrastructure, while exploring deeper cooperation with BRICS nations. These endeavors demonstrate Vietnam's multifaceted approach to solidifying its position in the global economy, maintaining and accelerating economic growth amidst geopolitical shifts.