In the context of increasingly complex global trade, Viet Nam’s seafood industry is stepping up its strategy of diversifying export markets to achieve its growth target of 4.3% this year.

The global economy is facing various complex factors, tariff tensions, and rising trade protection trends, which are exerting pressure on highly open economies such as Viet Nam. In addition, increasingly stringent requirements on green standards and digitalisation, diversification of export markets has become a matter of survival.

Speaking at the 14th session of the National Steering Committee for Illegal, Unreported, and Unregulated (IUU) Fishing Prevention and Control, the Viet Nam Association of Seafood Exporters and Producers (VASEP), on behalf of the business community, conveyed the message of standing alongside the Government in the fight to protect international markets, safeguard national prestige and foster sustainable development of Viet Nam’s seafood industry.

Amid a volatile global economy with risks from geopolitics, rapidly changing supply chains, and prolonged inflation, Vietnamese enterprises are under pressure to strongly renew business models and expand markets to sustain growth and enhance competitiveness.

The US's new 20% reciprocal tariff on Vietnamese imports, down from 46%, will not derail investment flows into Vietnam, according to Dr. Le Quang Minh from the University of Economics and Business at the Viet Nam National University-Ha Noi.

Amid the risk of high tariffs imposed by the United States, businesses in Ho Chi Minh City in particular and the Southeast region in general are striving to diversify export markets, with a focus on South Asia.