Businesses Must Reposition Strategies to Ensure Sustainable Growth Amid Global Economic Shifts

As global economic fluctuations intensify—driven notably by US reciprocal tax policies, supply chain disruptions, and rising trade protectionism—Vietnamese enterprises face urgent calls to adapt their strategies for sustainable development and market expansion. This imperative is especially highlighted in Ho Chi Minh City’s business sector, reflecting broader national trends.

Expanding Market Reach and Leveraging Free Trade Agreements

Cao Thi Phi Van, Deputy Director of Ho Chi Minh City’s Investment and Trade Promotion Centre (ITPC), emphasizes diversifying export destinations and tapping into the domestic market. Vietnam actively utilizes 17 free trade agreements with over 60 economies, creating promising opportunities for businesses to enhance competitiveness and scale.

Vietnam’s Rising Attractiveness as a Production and Export Hub

According to Professor Tran Ngoc Anh from Indiana University (US), Vietnam has become an increasingly attractive option for production and exports, notably for the US market. Key sectors such as wood processing, garment and textiles, and semiconductors have seen strong growth in US imports from Vietnam. Competitive tariffs and stable export figures reinforce Vietnam’s growing role as an alternative to traditional manufacturing hubs like China.

Addressing Digital Skill Gaps to Accelerate Transformation

Despite these advantages, Vietnamese enterprises encounter significant challenges in digital capacity. Data from the Institute for Vietnam Initiatives shows that 44% of workers lack basic digital skills, and over 60% of companies struggle with comprehensive digital transformation, especially in areas like data management, cybersecurity, and automation.

To bridge these gaps, experts propose a four-pillar approach:

1. Developing a digital competency framework,
2. Crafting targeted learning roadmaps,
3. Fostering a corporate culture of continuous learning,
4. Delivering specialized technological training.

Strategic Directions for Enhancing Global Competitiveness

Businesses are encouraged to adopt three main strategic moves:

• Ensure strict compliance with supply chain documentation, transparent country-of-origin labeling, and prompt adherence to US and EU standards.
• Transition from Original Equipment Manufacturing (OEM) to Original Brand Manufacturing (OBM), investing heavily in brand development to add value.
• Strengthen collaboration with international trade associations to diversify and deepen export markets.

Building a Robust National and Sectoral Branding Strategy

Amplifying Vietnam’s image from that of a low-cost manufacturer to a credible, high-value supplier is critical. This involves enhancing product reliability, traceability, and compliance with global tariff and regulatory environments. Establishing a strong national branding strategy will cement Vietnam’s position as a trustworthy alternative in global trade.

Conclusion: Vietnamese enterprises, supported by government initiatives, must urgently realign their growth strategies to remain competitive in a volatile international landscape. Through digital skill enhancement, market diversification, and brand development, Vietnam is poised to sustain and expand its economic footprint globally.

Source: Nhan Dan Online, October 28, 2025

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