Trade openness increased after the Second World War, but has slowed following the global financial crisis

Vietnam is still a magnet to Singaporean investors thanks to the two countries' similarities in market openness, their same direction for sustainable development, and their joining in free trade agreements (FTA), experts have said.

Effective use of Vietnam’s various free trade agreements (FTAs), especially of new-generation high-standard ones, has yielded a bumper year for exporters.

The increased inflow of investment from foreign investors into Vietnam’s electronics industry is expected to create a positive outlook for the country’s exports of computers, electronic products, and components in the time to come.

Vietnam’s exports to the European and American markets will continue to benefit from free trade agreements (FTAs) that Vietnam signed with partners in the regions. 

Export controls drive shift as semiconductor industry suffers demand slump

The trade sector has high hopes of raising the annual trade figure to new heights ahead this year and moving forward, in which the US$1 trillion trade is an ambitious target set for 2025.

Vietnam is currently the 7th largest trading partner of the US and the US is the 2nd largest trading partner of Vietnam and the largest export market of our country.

Since it entered into force in early 2022, the RCEP has helped strongly promote integration of value and supply chains, strengthen confidence in regional economic recovery and create new impetus for trade and investment growth in the region and the world.