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The industry will focus on maintaining its presence in key traditional markets, with a particular emphasis on the United States, and expanding into Japan, China, South Korea, the EU, India, Canada, Australia, the Middle East, and other emerging markets.

The Vietnam Timber and Forest Product Association (VIFOREST) has set an ambitious export target exceeding $18.5 billion for 2026.

To realize the goal, the industry plans to implement five core groups of solutions while simultaneously petitioning the Government to remove tax, credit, and administrative bottlenecks to create a more favorable environment for businesses.

First, the industry will focus on maintaining its presence in key traditional markets, with a particular emphasis on the United States.

Second, VIFOREST aims to diversify its export footprint by expanding into Japan, China, South Korea, the EU, India, Canada, Australia, the Middle East, and other emerging markets.

Third, the industry intends to effectively tap into the domestic market. By providing wooden furniture and materials for social housing projects, schools, hospitals, offices, hotels, and infrastructure developments, businesses aim to maintain production capacity, preserve jobs, and ensure steady cash flow.

Fourth, the sector will focus on enhancing value-added products. This involves developing products with superior design, established branding, and higher levels of deep processing. Additionally, the industry will utilize by-products to produce wood pellets, biomass, and other circular economy products.

Fifth, there will be a push for sustainable raw material development. This includes increasing the use of domestic plantation timber, certified wood, and legally imported timber.

The industry will also accelerate the digitalization of traceability records to meet EU Deforestation Regulation (EUDR) requirements and strengthen linkages with forest owners and cooperatives to transition toward large-timber forestry.

Recommendations for Government support

To ensure these solutions are effective, VIFOREST has requested that the Ministry of Agriculture and Environment, along with other central agencies, focus on five areas of support.

First, establish a regular exchange mechanism with US agencies and associations to provide transparent information regarding labor, the environment, and Vietnam’s plantation materials. This aims to protect the legitimate interests of Vietnamese businesses against tax measures and trade defense investigations.

Second, the Association proposes abolishing the 25% export tax on sawn timber produced from imported roundwood and the 5% export tax on black pellets and sawdust charcoal. VIFOREST estimates that resolving these tax issues could boost annual export turnover by $500–700 million.

Third, VIFOREST suggests creating tailored credit packages for wood processing enterprises and forest owners. Furthermore, it recommends restructuring debt repayment schedules for businesses significantly impacted by the tax policies of major international markets.

Fourth, increase resources for trade promotion, supporting businesses in attending international fairs and connecting with global distribution networks. This includes promoting the national brand: "Legal, Sustainable, and Responsible Vietnamese Wood."

Fifth, the Association calls for the continued digitalization and integration of procedures for planting area identification, CITES licensing, and origin certification. They also recommend the "single-declaration" use of data to eliminate duplicate inspections and shorten customs clearance times.

Vietnam's posted a trade turnover of US$659.58 billion in the first seven months of 2026, up 28.1% from a year earlier.

Imports outpaced exports, resulting in a trade deficit of $20.52 billion, largely driven by stronger demand for imported raw materials, machinery and production inputs.

Merchandise exports totaled $319.53 billion between January and July, a 21.7% year-on-year increase, according to the National Statistics Office.

The domestic economic sector contributed $63.64 billion, up 5.8% and accounting for 19.9% of total exports, while the foreign-invested sector, including crude oil, generated the remaining $255.89 billion, up 26.4%.

Some 31 export items recorded turnover exceeding $1 billion each, accounting for 93% of the total export value. Of these, seven products each generated more than $10 billion, making up 69.7% of total exports.

Manufactured goods remained dominant, reaching $287.91 billion and accounting for 90.1% of exports. Agricultural and forestry products earned $22.79 billion (7.1%), seafood exports totaled $6.86 billion (2.2%), while fuel and mineral exports reached $1.97 billion (0.6%).

Meanwhile, merchandise imports rose 34.8% year-on-year to $340.05 billion. Imports by the domestic sector reached $92.14 billion, up 24.1%, while the foreign-invested sector imported goods worth $247.91 billion, an increase of 39.2%.

A total of 40 imported products exceeded $1 billion in value each, accounting for 93% of the total imports. Two products each recorded import turnover above $10 billion, representing 52% of the total.

Production inputs accounted for 94.1% of imports, equivalent to $319.95 billion. Machinery, equipment, tools and spare parts made up 56.9% of imports while raw materials and fuels accounted for 37.2%. Consumer goods imports totaled $20.1 billion, or 5.9% of the total.

The U.S. remained Vietnam's largest export market, with exports valued at $104.7 billion in the seven-month period, while China continued to be the country's largest source of imports, supplying goods worth $138.6 billion.

Vietnam recorded a trade surplus of $91.4 billion with the US, up 22.6% year-on-year, while its trade deficit with China widened 39.7% to $93 billion.

To further boost exports, Nguyen Thi Huong, the office's director, recommended the government to continue implementing measures to promote exports, step up trade promotion activities, diversify supply chains, production networks and export markets while improving product quality and integrating more deeply into regional and global supply chains.

She also called for better utilization of existing free trade agreements, stronger exports to key markets, and greater efforts to tap into emerging markets, including Halal, Latin American and African markets, with the aim of achieving a sustainable trade surplus.

In addition, she proposed providing businesses with timely market information, helping them comply with new export standards, supporting them in anti-dumping cases, facilitating access to finance, and encouraging the adoption of advanced technologies to improve product quality, enhance added value and expand export markets.

The country targetting 25 million international visitors for 2026.

Vietnam welcomed 1.67 million international visitors in July 2026, up 6.6% from a year earlier, according to the National Statistics Office under the Ministry of Finance.

As a result, the total number of foreign tourists arrived in the first seven months of the year reached 13.9 million, accounting for approximately 56% of the country's target of 25 million international visitors for 2026.

China remained Vietnam's largest source market with around 3.1 million arrivals, accounting for 22.2% of the total. The Republic of Korea ranked second with 2.4 million, reaffirming its position as one of Vietnam's most important and stable tourism markets.

Russia continued to stand out as the fastest-growing market, with 864,000 arrivals during the period, up 174% from the same period in 2025 and more than double the pre-pandemic level recorded in 2019. The strong recovery enabled Russia to retain its position as Vietnam's third-largest source market and the country's largest visitor market from Europe.

Vietnam's tourism industry is expected to maintain its growth momentum as it enters the peak international travel season in late third quarter and the fourth quarter. Authorities expect continued support from the country's liberalized visa policies, expanded international air connectivity, more diversified tourism products and intensified promotional campaigns in key overseas markets, helping the sector work toward its goal of attracting 25 million international visitors in 2026.