Workshop discusses priorities in Vietnam's export strategy

ABO/NDO - The Ministry of Industry and Trade (MOIT) and the International Trade Centre (ITC) jointly held a workshop on March 16 to discuss the priorities in Vietnam’s export strategy in the coming period.

The event was designed to collect the opinions of the relevant parties, especially the private sector, in selecting the appropriate industries and fields.

According to ITC experts, Vietnam should focus on five sectors, namely food, garments, electronics, furniture and environmental goods, while paying attention to digital transformation, trade facilitation, sustainable development, certification and quality standards.

Vietnam is advised to focus on food, garments, electronics, furniture and environmental goods. (Photo: Thanh Dat).

Vietnam’s three largest exports are currently electronics, garments, and footwear, which account for 60% of the untapped export potential.

The machinery sector also has an export potential index close to the above three industries and is able to create many jobs, despite some jobs facing the risk of being replaced by automation.

Experts also pointed out that agricultural processing and furniture have low export potential but may have other advantages. Therefore, it is necessary to reposition these sectors to create greater value in the time ahead.

In addition, environmental goods linked to other traditional sectors such as electronics and machinery may also have opportunities for increased export in the future.

The workshop was held within the framework of the Trade Policy and Export Promotion project and financed by the Swiss government through the Swiss State Secretariat for Economic Affairs (SECO).

(Source: NDO)