Having spent $21.6 billion on Vietnamese products in the first half of the year, the United States remains Vietnam’s largest export market accounting for 19 per cent of the country’s total export value as of July 15.

However, the US now wants Vietnamese export businesses to improve their capacity and build new supply chains. In addition, Vietnamese enterprises need to expand scale and automate production line to ensure quality and quantity of supply. Also, the government needs to issue guidelines to minimise administrative costs and support enterprises through trade promotions.

The US also wants the National Trade Promotion Programme to identify players capable of adapting to the market, maintaining partnerships, being socially and environmentally responsible, building branding and sustainable development. In addition, changes to US trade policies need to be quickly understood in order to develop appropriate solutions to assist enterprises as they shift their production and business strategies in order to maintain their export advantage in the market.

Việtnam must also step up the process of building a fair and transparent legal system. This was a key factor to attracting foreign investment and creating favourable conditions for domestic enterprises to develop.