Navigating appropriate trading strategies in this critical post-pandemic time appears to be challenging for many companies, especially with Vietnam's growing agriculture sector. Participating in this modernizing and constantly changing industry, firms need a reliable consulting partner who has deep knowledge and networks in Vietnam's market.
Vietnam's promising export sector
In March 2022, Vietnam's import and export turnover reached a record high with a total value of $67.37 billion. Traditionally, July will be the busiest month of the year since, during this month, Christmas products will be exported to Europe and America. Therefore, analysts believe that Vietnam will set a new record this year with its trade value.
The main reason for Vietnam's phenomenal growth this year is Vietnam's reopening policies, lifting all industries and boosting the country's export. Despite the spreading of the new Omicron variant, Vietnam managed to live safely with the pandemic. Consequently, the Asian Development Bank (ADB) forecasted that Vietnam’s economy would continue to grow by 6.5 percent in 2022.
Beside electronic products manufacturing and textiles, agriculture is among Vietnam's most important industries, contributing positively to the country's overall export turnover. In the first 4 months of 2022, the export turnover of this sector reportedly was nearly $17.9 billion, increasing by 15.6 percent compared to the same period last year.
As the only country in the Asia-Pacific region to have a free trade agreement (FTA) with the EU, Vietnamese vegetables and fruits have many opportunities in the global market. Particularly, once the Vietnam-EU FTA took effect, the tax rate of some agricultural products entering the EU was reduced to 0 percent, creating a substantial competitive advantage compared to other countries in the region.
Why you need a reliable trade consulting service in Vietnam
Potential as Vietnam agricultural products are in many markets, Vietnamese fruits and vegetables in China have been facing several difficulties since China is being increasingly strict in quality control. To exemplify, their “Zero COVID" policy has been creating obstacles for Vietnamese agricultural products exporters, shifting the local fruit and vegetable export market. Enterprises that fail to predict and adapt timely might end up experiencing a great loss.
Therefore, to determine which field and manufacturers are suitable for your demand, foreign importers and traders need a local consulting service like Viettonkin Consulting to penetrate the market. Viettonkin can utilize our deep knowledge and extensive connection of network to provide our customers with the most valuable and optimized approach.
Our Trade & Procurement consulting service includes:
- Trade consulting
- Trading brokerage
- Import and export compliance consulting
- Procurement sourcing
Furthermore, with our Exporter Program, every step that you need will be assisted with, from market research to sourcing and connecting clients with suitable local business partners, and thorough instruction about market entry. Everything regarding legal procedures and setup steps will be carefully reviewed and delivered by our team of experts.
With our local expertise and global presence, the risk when investing in Vietnam will be minimized. Moreover, as we assist our clients with administrative and compliance activities that consume a lot of time and resources, customers can focus on their core activities that directly generate revenue. What's more, our multinational understanding also allows our clients to consolidate their work with us and achieve a considerably higher return on investment.
With all our dedication in bridging Vietnam and the rest of the world, we can affirm that Viettonkin is a partner you can trust. Contact us now via our website to learn more about our services.
