Bancomext-Nafin released on Tuesday a series of opportunities for Mexican exporters in Vietnam.
The potential opportunities are in the following products:
- Electronic integrated circuits.
- Electronic integrated circuits in the form of amplifiers.
- Pigments and preparations based on titanium dioxide.
- Hides and skins, bovine, incl. buffalo, or equine.
- Electrical apparatus for breaking, switching, protecting, protecting, branching, splicing or connecting electrical circuits.
- Transistors with a dissipation capacity >=1W.
- Parts of integrated circuits and electronic microstructures.
- Electrical conductors.
- Antennas and antenna reflectors of any type.
- Needles, catheters, cannulas and similar instruments for medical use.
Opportunities for Mexican exporters
Vietnam has 16 free trade agreements that give it access to 45 global markets, including the European Union, the Comprehensive and Progressive Agreement for Trans-Pacific Partnership and several ASEAN agreements with countries such as China, South Korea and Japan.
In this context, the country aims to have a strong industrial base and a high average income of $7,500 by 2030.
In addition, it seeks to become a developed economy with incomes between $27,000 and $32,000 by 2050.
To achieve these targets, GDP must grow between 6.5 and 7% per year over the period 2021-2030.
By 2050, Vietnam expects to be a developed, digital, green and circular economy.
Maritime trade
It also wants to be one of the most advanced industrial countries in Asia and a regional and global financial center.
Other opportunities for Mexican exporters stem from the fact that Vietnam wants to develop a strong maritime economy and become a maritime economic hub in Asia-Pacific.
The quality of life of the population is projected to improve with high quality social services and sustainable social welfare.
Thanks to a solid foundation, the economy has proven to be resilient in the face of various crises.
In this regard, economic growth is expected to be 5.5% in 2024, up from 5% in 2023.
This increase will be driven by stronger global demand and recovering domestic consumer confidence.
Real GDP growth is anticipated to strengthen over the next three years and reach the pre-pandemic average in 2026.