NG Solution Team
Tech News

How can the business community enhance capabilities amid global economic tensions?

HCM City is urging Vietnamese businesses to leverage global trade fluctuations as opportunities to transform production and bolster internal capabilities. Amid increasing global economic volatility, including US reciprocal tax policies and supply chain tensions, there is a pressing need for the Vietnamese business community to adapt and rethink development strategies. The US remains Vietnam’s largest export market, with a growing trade surplus, yet Vietnam faces potential reciprocal tariffs. In response, the Vietnamese Government is working to balance trade relations with the US and is taking strategic measures such as maximizing the domestic market and supporting joint investment projects. These global uncertainties provide Vietnam a chance to reassess its strengths and adopt a sustainable development mindset. Efforts are being made to diversify markets and enhance the quality of Vietnamese goods. As global supply chains shift away from China, Vietnam is becoming a top alternative destination for multinational corporations, offering an opportunity to engage in higher-tier value chain segments. While US tariffs on Vietnamese exports may rise, they are expected to remain lower than those on Chinese goods, maintaining Vietnam’s competitive edge. However, entering the US market is becoming more complex, necessitating collaboration with industry associations and legal experts. Digital transformation is also crucial for resilience, yet a significant digital skills gap exists among Vietnamese workers. To address this, a strategic roadmap for digital competency and continuous learning is proposed.

Related posts

What are the expected upgrades for iOS 26 and new iPhone features?

Michael Johnson

What’s new with iOS 26?

Emily Brown

Is the Galaxy Z Fold 7 Truly an Ultra Device?

David Jones

Leave a Comment

This website uses cookies to improve your experience. We assume you agree, but you can opt out if you wish. Accept More Info

Privacy & Cookies Policy