Vietnam Pursues Multifaceted Approach to Boost Agro-Forestry-Fishery Exports

Vietnam is pursuing a multifaceted approach to further expand its agro-forestry-fishery product exports. The 'GoGlobal Programme,' spearheaded by the Vietnam Trade Promotion Agency (Vietrade), aims to significantly boost Vietnamese products not just by increasing raw exports, but by strengthening brands, enhancing competitiveness, and establishing a lasting presence in international markets through 2026-2030. The program provides businesses with practical market information, helps them identify potential products and partners, and deepens their understanding of requirements related to quality, pricing, and distribution. These direct connections are expected to help companies adapt their products and develop more effective export strategies, contributing to an improvement in export quality. Vietnam's economy continues its robust growth, with total import-export turnover reaching a record high of US$770.14 billion in the first eight months of 2026, up 28.7% year-on-year. Exports rose 22.4%, while imports increased by 35.3%. This growth has been driven particularly by the processing and manufacturing sector, especially electronics, machinery, and equipment. State visits, such as General Secretary of the Communist Party of Vietnam Central Committee and President To Lam's trip to Canada, are expected to provide fresh momentum for bilateral economic cooperation. Meetings with major US groups like Warburg Pincus, Boeing, and Apple explored possibilities for investment and technological collaboration. Mexican businesses have expressed strong interest in Vietnamese household goods, furniture, food products, agricultural produce, stationery, and packaging, with plans for trial orders. Ho Chi Minh City officials emphasize that the utilization of Free Trade Agreements (FTAs) should go beyond tariff preferences, necessitating compliance with stricter market requirements on quality, technical standards, environmental protection, and sustainability. This highlights the crucial need for product quality improvement and adherence to green and sustainable development criteria. In the energy sector, for LNG-fired power to fulfill its role in Vietnam's energy transition, bottlenecks in institutions, infrastructure, electricity pricing, Power Purchase Agreements (PPAs), power dispatch, and financing must be addressed comprehensively. Meanwhile, Bac Ninh province is committed to accelerating its transition to clean energy, with a particular focus on rooftop solar power systems, and is ready to discuss cooperation opportunities with businesses in the renewable energy sector. Vietnam seeks to build partnerships based on co-creation, not merely to attract investment capital, and welcomes US businesses to invest and operate in the country. The country's Foreign Direct Investment (FDI) advantages are broadening towards a more integrated production ecosystem, offering stronger conditions for high-value, technology-intensive, and long-term projects. Information source: VietnamPlus English