Efforts to effectively respond to US tax policies, tighten online advertising

Minister and Head of the Government Office Tran Van Son chaired the regular Government press conference in March. (Photo: VGP)

* Responding to the question about the impact of the US imposition of reciprocal tariffs on Vietnamese industries and Vietnam's response solutions, Deputy Minister of Industry and Trade Truong Thanh Hoai said that this incident will have a negative impact on export activities and economic growth, FDI attraction, services and labor... In the near future, exports will face many challenges, including some industries that are directly affected such as electronics, textiles, footwear...

The reason is clear, increasing taxes will increase the price of goods exported to the US, reduce competitiveness, and reduce US consumer purchasing power. For import-export contracts that have been signed, US businesses will reconsider whether to continue or not.

The Deputy Minister of Industry and Trade expressed concern that new contracts will be more difficult. It is expected that the reciprocal tax on Vietnam to the US will take effect from April 9, but the Government has taken positive measures to contact and discuss with the US side, hoping to bring about harmonious results for us. Notably, on the evening of April 4, General Secretary To Lam had a phone call with US President Donald Trump.

Regarding solutions to remove difficulties in the face of tariff barriers, Deputy Minister Truong Thanh Hoai said that it is necessary to effectively utilize signed Free Trade Agreements, diversify market strategies, support the improvement of domestic production capacity...

Discussing this issue before the press conference, Minister and Head of the Government Office Tran Van Son affirmed that Vietnam has proactively taken many solutions to reduce taxes, import goods, and resolve legitimate requests from US businesses. Ministries and sectors have communicated with the US side, exchanging information through all political and diplomatic channels.

The Minister and Chairman said that the US tax policy is a big challenge for Vietnam in the coming time. However, the Prime Minister emphasized in the regular Government meeting in March that the 8% GDP growth target set for 2025 will not change; at the same time, he affirmed that it is necessary to maintain courage and calmness when facing difficulties and external shocks, thereby promoting creative, proactive, flexible and effective solutions.

Scene of the regular Government press conference in March. (Photo: VGP)

* Deputy Minister of Home Affairs Nguyen Thi Ha said that, implementing the conclusion of the Politburo and the Secretariat on the policy of arranging two-level administrative units, the Ministry was assigned to advise and develop a project to submit to the Central Government. Currently, the Ministry is also assigned to develop a draft of the revised Law on Organization of Local Government and related guiding documents to implement the two-level government. In particular, the Ministry has proposed regulations on the organization of activities of two-level local governments in the direction that after the dissolution of the district level, in addition to performing the current tasks and powers, the commune-level government must also assume the tasks of the district-level government.

Accordingly, the commune level will be given more power, the organization and civil service regime will also be reformed to ensure that they can meet their tasks. Administrative procedures previously performed at the district level will be directly performed by the commune level. Therefore, it will be necessary to increase the application of information technology, digital transformation, simplify procedures and shorten the time to perform administrative procedures to better serve the people.

The Deputy Minister of Home Affairs also said that it is necessary to propose necessary regulations to carry out the tasks and powers of the new commune-level government after the dissolution of the district-level government to ensure smooth, uninterrupted operations, without overlap, duplication or omission of tasks; especially, not affecting the normal operation of society and serving people and businesses better.

* Responding to recent questions regarding false advertising on social networks, Deputy Minister of Culture, Sports and Tourism Le Hai Binh said that in the period of strong development of social networks, artists, singers, actors, and celebrities participating in advertising activities is very popular. We have an Advertising Law to regulate this behavior. Regarding advertising on social networks, the Ministry has taken many measures to inspect, monitor, and handle existing problems and limitations. However, new realities require amendments to the Advertising Law.

During the process of amending this Law, the Ministry received many enthusiastic contributions, adding a number of specific provisions to regulate the behavior of celebrities and artists participating in advertising. Accordingly, each person participating in advertising must be responsible before the law in general and the Advertising Law in particular; at the same time, must be responsible for specific and transparent verification of the products they advertise.

In addition, there will be more detailed adjustments for celebrities in the direction of increasing sanctions, banning advertising, limiting advertising activities. Even limiting artistic activities, limiting appearance on social networks, Mr. Binh informed.

The Deputy Minister hopes that the press will coordinate to propagate to increase society's awareness, to distinguish between truth and falsehood in advertising; at the same time, contribute to raising the awareness and responsibility of celebrities when conducting advertising activities. Advertising is a normal activity, but this can easily lead to the loss of reputation and public love, which once lost is difficult to regain.

* Deputy Minister of Finance Do Thanh Trung said that the Ministry has proposed that the Government acknowledge the existence and potential of digital assets. The Government has directed the Ministry of Finance to develop a legal framework in March and the Ministry has coordinated with ministries and branches to implement it. The Deputy Minister emphasized that the implementation of this issue must be cautious, have a roadmap, be suitable for practice, ensure safety, transparency and efficiency. Therefore, a pilot will be implemented in the market for trading and issuing crypto assets.

The Ministry of Finance has drafted a document to solicit opinions from ministries and branches, then finalize it and consult with the Ministry of Justice. The Ministry's leaders hope that there will be specific information available sooner for implementation. This implementation will be piloted right on the trading market. The Deputy Minister said that this must be clarified, this is not a stock. But it still opens up a new mobilization channel for businesses. The pilot implementation in the market also needs to comply with the laws of Vietnam and other countries where investors participate in the cryptocurrency market...

Deputy Minister Do Thanh Trung also said that the recent US imposition of reciprocal tariffs not only applies to Vietnam, but also to countries around the world. This has a great impact on psychology, the business investment environment as well as business investment prospects. However, in that context, the Government has intervened very quickly. However, according to the Deputy Minister, the reaction of investors is "excessive", especially in the stock market in the past few days. In just two days, the HoSE Stock Exchange lost more than 100 points. In the coming time, with the Government's efforts, it will certainly regain the confidence of investors and businesses.

Source: https://baobinhphuoc.com.vn/news/4/171213/no-luc-ung-pho-hieu-qua-voi-chinh-sach-thue-cua-hoa-ky-siet-chat-viec-quang-cao-tren-mang