Ho Chi Minh City: Global trade fluctuations are pushing Vietnamese firms to transform production and bolster internal capabilities, according to experts at a seminar held in Ho Chi Minh City on June 3. The event, co-hosted by the city Investment and Trade Promotion Centre (ITPC), the Institute for Vietnam Initiatives (IVI), and the US-ASEAN Business Council (USABC), focused on navigating evolving trade and digital technology trends.

According to Vietnam News Agency, the seminar highlighted the urgent need for Vietnamese businesses to enhance their production strategies and internal competencies in response to the shifting landscape of global trade. The discussions emphasized the importance of adapting to new international trade patterns and integrating advanced digital technologies to remain competitive.

The seminar convened industry leaders, policymakers, and business representatives to deliberate on the future of Vietnam’s trade environment. Participants discussed strategies to leverage digital innovation and improve supply chain resilience in light of recent global economic challenges. The event underscored the critical role of government and private sector collaboration in fostering sustainable economic growth amidst the evolving trade dynamics.

Experts at the seminar advocated for a proactive approach to embracing digital transformation as a means of enhancing operational efficiency and expanding market reach. They also stressed the significance of fostering a supportive regulatory framework that encourages innovation and facilitates seamless trade operations.

The seminar served as a platform for exchanging insights and best practices, aiming to equip Vietnamese enterprises with the knowledge and tools necessary to thrive in the changing global trade arena.