The escalating tensions in the Middle East are causing localized disruptions to global supply chains, directly impacting Viet Nam's exports. Given rising fuel costs and disruptions to some shipping routes, diverting through the Red Sea is considered a viable option, although it still carries inherent risks.

This was a suggestion from Mr. Tran Trong Kim, Viet Nam's Commercial Counselor in Saudi Arabia, at the first Viet Nam Economic Forum 2026, themed "Businesses facing global geopolitical shocks: How to respond?", organized by the Nguoi Lao Dong newspaper on March 26th.

According to Mr. Tran Trong Kim, import businesses in this market are becoming more cautious in signing new contracts. Many companies are adjusting their business plans, prioritizing essential goods, which could cause demand for goods from Viet Nam to stagnate or be disrupted in the short term.
In light of this situation, the Viet Nam Trade Office in Saudi Arabia recommends that businesses proactively adjust their transportation plans and be prepared for the possibility of extended delivery times.

Given rising fuel costs and disruptions to some shipping routes, diverting through the Red Sea is considered a viable option, although risks remain. Notably, several major ports such as Dammam and Jeddah have temporarily suspended bookings until April 2026.

In addition, businesses need to strengthen contract protection measures, especially by adding force majeure clauses that clearly define legal liability in case of delayed or non-delivery, as well as the resulting costs. Increasing insurance coverage to mitigate risks and compensate for losses in an unstable environment is also considered a necessary requirement.

Mr. Tran Trong Kim also noted that businesses need to maintain close contact with partners and regularly update information from relevant agencies such as the Ministry of Industry and Trade and the Vietnamese Trade Offices in the Middle East to respond promptly. In the context of prolonged conflict, fuel and consumer goods prices may continue to rise, requiring businesses to have appropriate adaptation plans.

Furthermore, full compliance with regulations regarding documentation, especially for food and beverage items, is crucial to avoiding congestion at border crossings, particularly as control standards are becoming increasingly stringent.

Not only in the Middle East, but the US market also poses many new challenges for Vietnamese businesses. According to Mr. Do Ngoc Hung, Counselor and Head of the Vietnamese Trade Office in the US, US trade policy is changing rapidly with a trend towards increasing technical and non-tariff barriers. 

Given this situation, businesses need to proactively develop long-term trade promotion strategies, closely monitoring changes in US tariff, environmental, and labor policies. Simultaneously, increasing imports of raw materials, machinery, and technology from the US is also considered a solution to help balance the trade deficit and minimize the risk of investigation.

From the perspective of regulatory agencies, it is necessary to continue improving the quality of market information provision, providing early warnings of trade defense cases, and promoting dialogue and negotiations with the US to build a stable, transparent, and highly predictable legal environment for businesses.

With major markets facing increasing risks and requiring businesses to adapt flexibly, many experts believe a more holistic and long-term approach is needed.

Mr. Pham Quang Vinh, former Deputy Minister of Foreign Affairs and former Vietnamese Ambassador to the United States, believes that in the context of the "new normal" with many uncertainties and disruptions, both the nation and businesses must proactively adapt. This requires improving the capacity to ensure supply and simultaneously developing contingency plans to respond to risks. In particular, strengthening strategic reserves, especially for energy sources such as oil, plays a crucial role.

"The overarching principle is to maintain stable partnerships while effectively managing risks, thereby minimizing losses in the uncertain global economic environment," Mr. Pham Quang Vinh shared.

Source: TinTucNews

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