Faced with complicated developments when the United States applied high reciprocal taxes on imported goods from Vietnam, on April 17, 2025, the Ministry of Industry and Trade held an important conference "Supporting businesses to overcome difficulties in the context of the United States applying reciprocal taxes on exports from Vietnam". In this context, Ninh Binh province has promptly taken action, clearly demonstrating its role of accompanying and standing side by side with export enterprises to maintain sustainable growth momentum.
Identifying the challenges of US countervailing duties
At the Conference, chaired by Minister of Industry and Trade Nguyen Hong Dien, delegates representing industry associations, businesses and relevant ministries frankly assessed the situation of goods exports to the United States, deeply analyzed new policies from the international market, especially the US trade policies that are causing great challenges for Vietnamese businesses.
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Minister of Industry and Trade Nguyen Hong Dien chaired the Conference |
According to information at the Conference, the United States is Vietnam's largest export market, accounting for 29.5% of the country's total export turnover, while Vietnam is currently the 8th largest trading partner of the United States. The new additional tax policy from the United States is assessed to create strong impacts, significantly reducing the competitiveness of many key export groups such as textiles, footwear (21.9%), wood and wood products (7.58%), and agricultural - aquatic - seafood products (3.45%).
To deal with this situation, Prime Minister Pham Minh Chinh quickly signed Decision No. 753/QD-TTg dated April 12, 2025 to establish a Government Negotiation Team on trade issues with the United States. The negotiation team is led by the Minister of Industry and Trade, along with leaders of relevant ministries such as Finance, Agriculture and Rural Development, Science and Technology, Foreign Affairs , and the State Bank of Vietnam.
Immediately afterwards, on April 14, 2025, Minister Nguyen Hong Dien sent an official note to the US side informing them about Vietnam's negotiating focal point, and at the same time requested confirmation of information about the negotiating team and working schedule from the US side.
Ninh Binh proactively listens to businesses and promptly handles problems
At the same time as the National Conference, Ninh Binh Province also quickly organized a separate Conference to meet and listen directly to opinions from the export business community in the province. The local conference took place on April 17, 2025, chaired by Mr. Pham Quang Ngoc, Deputy Secretary of the Provincial Party Committee, Chairman of the Ninh Binh Provincial People's Committee, demonstrating close attention and determination in removing difficulties for local businesses.
At the conference, a representative of the Ninh Binh Department of Industry and Trade informed that in 2024, the province's export turnover to the US market will reach 777.5 million USD, accounting for 23% of the province's total export turnover. In the first quarter of 2025 alone, the export turnover to the US will be 165.5 million USD, a slight increase of 0.16% over the same period last year, accounting for nearly 20% of the province's total export turnover.
Enterprises attending the Conference presented practical difficulties, focusing on three major issues: One is meeting increasingly stringent technical standards from the US and EU, two is that logistics costs are still too high and there is a shortage of high-quality labor, and three is that administrative procedures, although improved, still do not really meet export needs quickly.
Determined to act, support businesses effectively and promptly
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| Mr. Pham Quang Ngoc - Chairman of Ninh Binh Provincial People's Committee |
Chairman of Ninh Binh Provincial People's Committee, Mr. Pham Quang Ngoc affirmed that the provincial government always stands side by side with businesses, ready to resolve difficulties in the fastest and most practical way. Feedback from businesses will be compiled and reported to the Government and the Ministry of Industry and Trade to develop comprehensive and effective solutions, ensuring the harmony of interests between Vietnam and international trade partners.
Mr. Ngoc suggested that local departments and branches continue to support businesses by further improving administrative procedures on investment, tax, customs, land and environment. In particular, the province prioritizes investment in training high-quality human resources to meet the requirements of the export market and proactively supports businesses in digital transformation and the application of modern technology to improve productivity and competitiveness.
Businesses are also required to continue to proactively innovate and create, taking advantage of new opportunities to maintain production and export market share in the US as well as expand international markets.
Ninh Binh aims for sustainable development of supporting industry
The long-term development orientation of Ninh Binh province is to build supporting industries into a "backbone" industry, playing a key role in local production. Key industrial zones such as Gian Khau, Khanh Phu and Phuc Son have been invested synchronously, with infrastructure ready to serve businesses to expand production scale, with special priority given to attracting clean and high-tech production sectors.
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In addition, the province also actively organizes investment promotion activities, promotes competitive advantages, and encourages international enterprises to come and learn and cooperate long-term. Programs connecting domestic and foreign markets are promoted, helping enterprises expand their output and enhance their competitiveness in the international market.
Through these practical and strong measures, Ninh Binh province is determined to accompany and effectively support the business community to overcome challenges from the US reciprocal tax policy, not only to protect strategic export markets but also to create momentum for sustainable development, enhancing the position of the province and the country in the global supply chain.
Source: https://congthuong.vn/ninh-binh-chu-dong-thich-ung-chinh-sach-thue-quan-moi-cua-hoa-ky-sat-canh-cung-doanh-nghiep-xuat-khau-384359.html
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