Topic: challenges

Mr. Suan Teck Kin, Head of Research and Executive Director, Global Economics and Markets Research, at UOB, identified three challenges and three opportunities for Vietnam’s economy in the Trump 2.0 era.

Much work has gone into boosting digital transformation in Vietnam’s manufacturing sector, but for many companies the process has proved problematic.

Vietnam has much to do as it works to establish a carbon credit market.

Vietnam’s continued development needs to be matched by the skills and knowledge of its workforceskills and knowledge of its workforce.

Vietnam is poised to capitalize on the burgeoning global Halal market but stringent certification requirements, lack of awareness, and fierce competition count among the challenges.

Recent developments in global rice markets are seen as a major opportunity for Vietnam’s rice exports but exporters must be fully on board.

Vietnam has accumulated experience in pandemic prevention, risk management, and crisis management over the years, which will help it overcome the difficulties in 2023.

According to Tech in Asia, the level of technology adoption in agriculture is still low in Vietnam because of a lack of capital. Only a few startups have raised capital externally.

Having applied a national multi-dimensional poverty line in 2015, Vietnam has been a pioneer in the Asia-Pacific region in applying the line as a tool for targeting and monitoring poverty and policy formulation. However, the poverty that exists among ethnic minorities and people living in some coastal and island areas is a challenge for Vietnam in achieving the sustainable development goals.

The Vietnam Leather, Footwear and Handbag Association (LEFASO) has reported that leather and footwear exports have been quite positive in the first half of 2022 but uncertainties over raw material supplies and orders slowing in the closing months of the year are still of concern to businesses. The industry will continue to face risks such as large inventories and slowing orders in the second half.