Crisis Management for a Conflict with North Korea

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Sản xuất hé lộ 'cửa sáng' cuối năm

Production reveals a bright opportunity for the year-end

VN Express | Local Language | News | Nov. 18, 2025 | UndeterminedOperating Results

In November 2025, TEKCOM maintained steady kitchen cabinet production at its expanded facility in Ho Chi Minh City, completing about 2,000 cabinets daily. The company, which manufactures plywood-based products primarily for export, sells to over 50 markets including the US, Europe, India, and ASEAN. Despite facing tariff challenges such as a 20% retaliatory tariff and a 25% US tariff on kitchen cabinets, TEKCOM’s orders and operations remain stable. The company focuses on optimizing costs and tailoring products to different market segments to maintain competitiveness.

Vietnam's wood product exports reached $1.53 billion in October 2025, contributing to a 6.3% increase in agricultural, forestry, and fishery export turnover year-on-year. The manufacturing sector shows signs of recovery with S&P Global’s Purchasing Managers’ Index (PMI) at 54.5, indicating strong output and new orders. Stable manufacturing prospects are supported by a record $21.3 billion in realized foreign direct investment (FDI) during the first 10 months of 2025 and high business confidence, with 68% of companies expecting economic stability and improvement in the final quarter.

The clearer tariff landscape, following the US's decision to set a 20% tariff on imports from Vietnam versus earlier proposed higher rates, has helped stabilize production and exports. Vietnam, along with Malaysia, holds advantages among ASEAN countries under the new tariff regime. However, potential risks exist, including a decline in export orders after tariff-avoidance frontloading ends and possible impacts from rising commodity prices on US consumers. The seafood sector faces a projected export decline of 22% in Q4 due to tariffs and anti-dumping measures.

Inflationary pressures from higher input and selling prices continue to challenge manufacturers. Though current demand accommodates price increases, sustained rises may dampen new orders. Export performance is uneven across sectors; electronics exports to the US grow, but textile and apparel exports show slight declines and slowing orders. Issues remain regarding unclear regulations on transshipped goods, with a 40% tariff lacking clear definition and guidance.

Improving the business environment is seen as critical for enterprise adaptation. Stable policies, consistent tax and fee structures, timely licensing, and streamlined customs procedures are key demands from both American and Vietnamese companies. Domestic firms like Nutifood are investing heavily in joint ventures and export expansion to Southeast Asia and the Middle East. TEKCOM’s leadership views tariff barriers as opportunities for market understanding and strategic product positioning, planning to focus on high value-added goods for Europe, basic products for the US, and expanding in the recovering domestic real estate market.

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