Vietnam adopts strategy to build modern, sustainable retail market
Prime Minister Pham Minh Chinh, has recently approved a strategy for developing Vietnam’s retail market, through 2030 with a vision to 2050.
Prime Minister Pham Minh Chinh, has recently approved a strategy for developing Vietnam’s retail market, through 2030 with a vision to 2050.
Both sides expressed satisfaction with the robust growth of Vietnam–China relations and the positive progress in mutually beneficial exchanges and cooperation between ministries, sectors, and localities of Vietnam and Guangdong.
In recent years, Vietnamese sellers have increased their online presence in key markets such as the US, China, the European Union, Japan, and the Republic of Korea. They are also exploring new opportunities in ASEAN, the Middle East, Russia, and Australia through cross-border e-commerce.
At CAEXPO 2025, Vietnam is showcasing nearly 200 booths with a wide range of high-quality products in areas of strength that complement the Chinese and ASEAN markets, including farm produce, processed foods, consumer goods, household items, furniture, and handicrafts.
To achieve the 12% export growth target for 2025, Vietnam needs to secure at least 150 billion USD in the final four months, equivalent to more than 37.5 billion USD per month, a demanding task, according to Minister of Industry and Trade Nguyen Hong Dien.
This year, retail sales and consumer service revenue are expected to grow 10.5–12%, contributing to an overall economic growth target of 8.3–8.5%.
With traditional markets tightening through tariffs, technical barriers, and declining demand, Africa offers a strategic avenue for Vietnam to diversify its markets and supply chains.
The signing of multiple trade cooperation agreements between Vietnam and Middle Eastern countries in late 2024 has opened new opportunities for Vietnamese goods to enter the Halal market, creating strong momentum and prospects for Vietnamese businesses, particularly those operating in agriculture.
Vietnam’s Trade Office in Singapore recently encouraged Vietnamese businesses to participate in Retail’s Big Show APAC 2025, which will take place in Singapore early next month.
The US is now a comprehensive strategic partner and one of Vietnam's largest export markets. Meanwhile, Vietnam ranks as the US's eighth-largest trading partner, and American consumers favour Vietnamese products for their their quality and affordability.
Vietnam’s textile and garment sector, which generates more than 16 billion USD in annual exports, could also face significant disruption.
In their joint letter sent to the US Secretary of Commerce, VCCI and AmCham called on the Trump administration to temporarily suspend the imposition of tariffs to avoid disrupting business operations, negatively affecting current trade transactions, and disturbing the logistics chain.
The Deputy PM also called on the American Chamber of Commerce (AmCham) in Vietnam and the US-ASEAN Business Council to convey the message of goodwill from the Vietnamese Government and business community to President Donald Trump’s administration to foster effective talks that could further reinforce the Vietnam-US comprehensive strategic partnership.
With improved quality and strong consumer support, Vietnamese goods are increasingly popular among households nationwide.
With improving quality and strong consumer support, Vietnamese goods are increasingly becoming the preferred choice for households across the country.
Vietnamese goods, especially farm produce, are expanding their presence in retail chains and supermarkets across Malaysia, including well-known ones, reflecting growing consumer preference for Vietnamese products, according to Trade Counsellor of Vietnam in Malaysia Le Phu Cuong.
Vietnamese goods have steadily established a strong presence in the UK, with exports to this demanding market continously growing since 2021, said Hoang Le Hang, First Secretary of the Vietnam Trade Office in the UK.
A number of topics aimed at strengthening trade between Poland and Vietnam were discussed at a recent “Business Mixer” event in Ho Chi Minh City.
Potential for cooperation between Vietnam and Malaysia, particularly in the food industry, has been introduced to Malaysian partners and attendees within the framework of the ongoing Selangor International Business Summit (SBIS) 2024 in Kuala Lumpur.
With positive results recorded in the first nine months of 2024 and efforts of businesses, experts are optimistic about the country’s bright export prospects in the rest of the year towards a historical record of 400 billion USD.