Việt Nam remains a reliable destination for global supply chains

Việt Nam remains a reliable destination for global supply chains

Vietnamese businesses need to strengthen their production capacity, achieve higher standards, and build long-term partnerships as global supply chains undergo major changes.

Deputy Minister of Industry and Trade Phan Thị Thắng speaks at the Export Forum in HCM City on September 3, saying Việt Nam remains an important sourcing destination for international corporations seeking to diversify their supply chains. — Photo courtesy of the organiser

Vietnamese businesses need to strengthen their production capacity, achieve higher standards, and build long-term partnerships as global supply chains undergo major changes.

This was the message highlighted at the 2026 Export Forum held as part of the Vietnam International Sourcing event by the Investment and Trade Promotion Centre of HCM City and the Ministry of Industry and Trade’s Department of Foreign Markets and Multilateral Trade.

Speaking at the event, Deputy Minister of Industry and Trade Phan Thị Thắng said global trade is entering a new phase marked by unpredictability, increasing protectionism, and complex trade barriers.

“Global supply chains are no longer organised solely around cost and efficiency, but increasingly around new requirements for safety, resilience, transparency, and sustainable development.”

Việt Nam remains a reliable destination for global supply chains thanks to its 17 free trade agreements (FTAs), stable investment environment, improving production capacity, and strategic geo-economic position in Southeast Asia, she said.

These advantages have made the country an important sourcing destination for international corporations seeking to diversify their supply chains, she said.

The Government aims to increase exports by 15–16 per cent in 2026 to US$546–550 billion, a target she described as challenging but reflecting Việt Nam’s determination and confidence in its strengths and position in global trade.

Deputy Minister of Industry and Trade Phan Thị Thắng speaks at the Export Forum in HCM City on September 3, saying Việt Nam remains an important sourcing destination for international corporations seeking to diversify their supply chains. — Photo courtesy of the organiser

Nguyễn Công Vinh, vice chairman of the HCM City People’s Committee, said the city is a major growth pole, accounting for a quarter of the country’s GDP and one third of its revenues.

HCM City aims to sustain average economic growth of more than 10 per cent a year, reaching per capita income of $14,000 by 2030, he said.

It would help businesses make better use of the 17 FTAs covering more than 60 economies, particularly the CPTPP, EVFTA, UKVFTA and RCEP, he said.

Trade promotion would also be modernised through digital platforms, artificial intelligence, and big data, and businesses would be encouraged to explore emerging opportunities in green products, halal products and cross-border e-commerce, he added.

Deputy Minister of Industry and Trade Phan Thị Thắng speaks at the Export Forum in HCM City on September 3, saying Việt Nam remains an important sourcing destination for international corporations seeking to diversify their supply chains. — Photo courtesy of the organiser

Pakistan’s Ambassador to Việt Nam, Kohdayar Marri, highlighted the opportunities for increasing bilateral trade in textiles and apparel, agricultural products, leather goods, surgical and medical instruments, sports goods, processed food, and pharmaceuticals.

“Việt Nam has established itself as a dynamic manufacturing and export centre.”

He said his country could provide Vietnamese businesses with access to South Asian, Central Asian, and Middle Eastern markets.

Alen Wei, CFO of H&M Production, China and Southeast Asia, said Việt Nam remains one of H&M Group’s most important sourcing markets.

It has sourced from Việt Nam for more than two decades and now works with more than 40 suppliers and 70 factories, employing more than 60,000 workers.

He said the next stage of competitiveness would increasingly depend on sustainability, renewable energy and industrial upgrading.

“Việt Nam is more than an important sourcing destination. It is a long-term partner in building a resilient, agile and future-ready textile industry.”

H&M has shared a masterplan for long-term trade and industrial development in Việt Nam with the Ministry of Industry and Trade, Wei added.

Speakers also highlighted the growing importance of green production.

Deputy Minister of Industry and Trade Phan Thị Thắng speaks at the Export Forum in HCM City on September 3, saying Việt Nam remains an important sourcing destination for international corporations seeking to diversify their supply chains. — Photo courtesy of the organiser

Nguyễn Đăng Khoa, international business development director at Tân Phú Vietnam JSC, said green production had become a prerequisite for entering markets such as the EU and US.

The company is standardising recycled plastic materials, improving production processes to reduce emissions and energy consumption, and adopting international standards such as ISO 14001, BSCI, FSC, and Higg FEM.

He described these certifications as essential “passports” for negotiating with major international partners and stressed that green transformation should be viewed as a long-term strategic investment.

Businesses that fail to embrace greener production over the next five to 10 years risk losing their competitive edge regardless of how competitive their prices may be, he warned.

Referring to the US market, Đỗ Ngọc Hưng, commercial counsellor and head of the Vietnam Trade Office in that country, said many global corporations have factories in Việt Nam and are increasingly interested in consumer goods sourced from the country.

Việt Nam has become one of the leading suppliers of textiles and garments to the US, with its market share and exports increasing, but the growing market share also means greater exposure to trade-remedy investigations, he said.

Exporters should maintain complete and transparent documentation, particularly records relating to input imports, so that they could provide information to US investigating authorities, he said.

Failure to provide adequate or accurate information could be viewed as a lack of cooperation during investigations and potentially result in higher trade-remedy measures, he warned. 

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