Vietnam Accelerates Productivity and Digital/Green Transformation to Meet Export Target

Vietnam needs to accelerate productivity gains, strengthen domestic sourcing, diversify markets, and embrace digital and green transformation to achieve its 2024 export target of $48 billion. The country is shifting away from a growth model solely reliant on expanding production capacity. Sustained economic growth requires producing higher value-added goods, enhancing supply chain resilience, and adopting sustainable business practices. The adoption of circular economy principles is expected to boost competitiveness, reduce emissions, and align with increasingly stringent international sustainability standards. Internationally, Vietnam is working to strengthen regulatory cooperation, improve digital trade interoperability, enhance supply chain resilience, and promote investment through global partnerships. This reflects diplomatic efforts to solidify Vietnam's position in the global economy. Infrastructure development, particularly the transport network around Long Thanh International Airport, will improve logistics efficiency and stimulate economic activity. The construction of expressways and ring roads linked to the airport will support the formation of a logistics and commercial network centered around the airport. Furthermore, Vietnam is tightening regulations on cryptocurrency trading. Decree 284/2026, effective September 1, introduces penalties for domestic investors trading crypto assets outside licensed service providers for the first time, aiming to stabilize financial markets and protect investors. Under its one-party system, Vietnam has prioritized economic growth and actively attracted foreign investment. In recent years, there has been a move to reduce economic reliance on China and diversify supply chains. The current strategy to meet export targets reflects this direction in Vietnam's economic policy.