Vietnam has set an ambitious export target for the sector of up to US$48 billion in 2025.

In the face of unpredictable volatility, Vietnam's companies are investing in technology, innovation and production to meet the targets they have set themselves, whilst keeping a close eye on market trends.

Preferential treatments from the EU-Vietnam Free Trade Agreement (EVFTA) have been best utilized by Vietnamese enterprises among trade deals of which the country is a party.

Testing and vaccination for workers are headaches of enterprises at the moment.

Vietnam has leapfrogged Bangladesh to become the world’s second-largest exporter of clothing in 2020 with a turnover of US$29 billion, down 7% year-on-year, according to the World Trade Organization.

Eight business sectors, including hospitality services, retail, garment, car manufacturing, agriculture, logistics, aviation, and IT are facing an unprecedented crisis.

Among US’ leading suppliers of textile and apparel, China continues to lose its market share (33% in 2019 to 28% in 2020) while Vietnam is the largest gainer (13% to 15%).