Using Hirschman’s theoretical framework we evaluated the competitive position of Vietnamese pangasius export industry and the strategies employed by the private sector to increase market share in the EU. The authors organized focus group discussions, and interviewed 50 pangasius processors and exporters, and five government officials. The results show that most enterprises exploit the compliant, reactive and defensive strategies to maintain market share. A few firms employ the proactive/offensive strategies. These command larger EU market share; have more years of experience in processing; and are more vertically integrated than those adopting an offensive/reactive or reactive/defensive stance.