Setijadi said geopolitical shocks in oil-producing nations risk triggering volatility in global crude prices, which would ultimately raise fuel costs and international shipping expenses.
By diversifying markets, products and customers, the sector has mitigated risks and responded proactively to market fluctuations, despite numerous challenges such as disrupted supply chains, rising shipping costs, and rapidly changing purchasing policies in many markets.
With GDP growth surpassing 8% in the third quarter and optimistic projections from HSBC (7.9%) and Standard Chartered (7.5%), the full-year target of 8.5%, previously deemed “ambitious”, now appears increasingly achievable.
Standard Chartered has revised its forecast for Vietnam’s economic growth in 2025 to 7.5%, up from its earlier projection of 6.1%.
Held under the theme “Empowering Metalworking,” METALEX Vietnam 2025 continues to serve as a reputable regional and international platform, shaping the future development of the mechanical engineering and manufacturing industries. The event also aims to help Vietnamese enterprises enhance production capacity and further integrate into global supply chains.
Vietnam is now positioning itself as a global manufacturing hub with a diversified export portfolio, improved product quality, and enhanced price competitiveness.
Under the Government’s new decree on the development of the supporting industries, various favourable policies and incentives regarding technology, human resources, land and administrative procedures were outlined, expected to lure stronger investments in the sector, especially in the context that enterprises are restructuring the global supply chain and shift to domestic production.
The Binh Duong Association of Supporting Industries (BASI) is expected to promote the usage of domestically manufactured components while supporting businesses in accessing international markets, strengthening linkages, and promoting deeper integration into global supply chains.
A survey conducted by VCCI showed that nearly 65% of Vietnamese enterprises had not prepared anything when participating in the global supply chain, while more than 50% of enterprises did not define their goals when participating in the global value chain.
Vietnam exported 65.2 billion USD worth of products in January-February, a 9.9% increase compared to the same period last year. Meanwhile, imports totaled 62.9 billion USD, rising 16%, resulting in a trade surplus of 235 million USD.
In January, Vietnam’s export to the US reached 9.8 billion USD, while import stood at 1.3 billion USD, resulting in a trade surplus of 8.5 billion USD.
A programme has been launched in Ho Chi Minh City to support businesses in Vietnam in measuring and implementing comprehensive ESG (Environmental, Social and Governance) practices in human resources management to improve their competitive edge in the global supply chain.
Vietnam is witnessing a significant shift in the quality of foreign direct investment (FDI) projects pour into the country as an increasing number of high-tech and pioneering industrial companies move into the country to expand operations.
Vietnam always prioritises strengthening and consolidating relations with the World Bank (WB), affirmed Party General Secretary and State President To Lam during his reception for WB President Ajay Banga in New York on September 25 (local time).
Vietnam has seen a robust increase in the inflow of the foreign investment despite global geopolitical uncertainty, affirming foreign firms’ sentiments in the Southeast Asian market, according to insiders.
Amid the ongoing restructuring of the global supply chain, foreign investors continue to view Vietnam as a crucial investment destination in the medium and long term, according to the Ministry of Planning and Investment (MPI).
In foreign investors' eyes, Vietnam remains an important investment destination in the medium and long terms amidst the ongoing global supply chain restructuring, according to the Ministry of Planning and Investment (MPI).
The southern province of Binh Duong's modern industrial parks and business support policies have helped attract thousands of domestic and foreign enterprises.
After 30 years of developing bilateral relations, Vietnam has become a key trade partner of Slovenia in Asia, Deputy Prime Minister and Minister of Foreign and European Affairs of Slovenia Tanja Fajon has stated.
