In the context of deep economic integration, Vietnam’s economy is faced with the urgent need to build a sustainable value chain to enhance competitiveness and avoid falling behind in the global “game.” Although exports have reached impressive levels, the ability to participate deeply and create domestic added value remains limited.
I. Current Situation and Competitive “Gaps”
Data reveals several significant challenges:
- Lack of Readiness: A VCCI survey indicates that 64.7% of businesses are not well-prepared to participate in the global value chain, and only 15.3% have developed long-term strategies.
- Low Participation Rate: In 2023, only about 2.5% of Vietnamese enterprises were able to directly participate in the global supply chain, while the FDI sector accounted for up to 73% of export turnover.
- Low Added Value: Exports in 2024 reached $405.5 billion, but domestic added value only accounted for 12.7%.
- Lack of Core Technology: The percentage of businesses mastering core technology is less than 0.3%, and only 17% of small and medium-sized enterprises (SMEs) apply Industry 4.0 technology—a low rate compared to the region.
The internal linkage among domestic enterprises remains weak, causing production to be fragmented. The majority are SMEs, lacking capital for technology investment and high-quality human resources. Instead of cooperating to enhance strength, many businesses compete directly on price, leading to a fragmented market.
II. Global Pressure: Green and Digital Standards
The world economy is imposing increasingly strict new standards, forcing Vietnamese businesses to adapt quickly:
- Sustainable Development: Pressure for green transition, carbon emission reduction, and transparent origin of goods.
- Trade Digitization: The application of technology in goods circulation and the promotion of digitizing the entire supply chain are mandatory requirements to combat counterfeits, especially in traditional distribution channels.
III. Three Pillars for Building a Sustainable Value Chain
To elevate their position, enterprises need to meet three crucial pillars:
- Economic Pillar:
- Increase productivity and shift from raw resource exploitation to creating high added value.
- Strengthen the mastery of core technology.
- Social Pillar:
- Ensure quality employment and respect for workers’ rights.
- Environmental Pillar:
- Promote the Circular Economy model.
- Effectively implement the Extended Producer Responsibility (EPR) mechanism.
Conclusion & Action:
In the context of global risks and tightening standards, Vietnamese enterprises cannot act in isolation. Market linkage and supply chain transparency must be seen as the “strategic pair” to boost competitiveness. Only when production and distribution are linked with international technology and standards can Vietnamese goods secure the domestic market and raise their global profile (Source: Vietnam Economic & Financial Review).
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ICD Nam Dinh Vu Joint Stock Company
📍Head Office: 7th Floor, ICD Nam Dinh Vu Building, 180A Tran Duy Hung Street, Yen Hoa Ward, Hanoi City, Vietnam
📍Address: Km9, Road #356, Dong Hai Ward, Haiphong City, Vietnam
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