Prime Minister: Vietnam to hold first negotiation session with US on tax policy on May 7 - Lang Son Newspaper and Radio and Television

Prime Minister Pham Minh Chinh said Vietnam is among the six countries that the US has prioritized for negotiations on tax policy, with the first negotiation session taking place on May 7.

This information was given by Prime Minister Pham Minh Chinh when reporting on the implementation of the socio -economic development plan and the State budget in the first months of 2025, at the opening session of the 9th Session of the 15th National Assembly, on the morning of May 5.

The Prime Minister said that since the beginning of the year, the world situation has had many new, complex and unpredictable developments.

In particular, the US's sudden announcement of a large-scale reciprocal tax policy at high levels has negatively impacted global economic growth, seriously threatening the supply chain and international trade and investment flows. Traditional and non-traditional security issues are increasingly fierce and difficult to control.

Prime Minister Pham Minh Chinh . (Photo: quochoi.vn)

Accordingly, on April 2, the US officially announced a 10% tariff policy on all countries and set a very high reciprocal tariff ceiling (Vietnam was subject to a 46% reciprocal tariff). On April 9, the US announced a 90-day suspension of the reciprocal tariff plan, except for China.

Faced with this situation, the Prime Minister emphasized that Vietnam has been calm, courageous, proactive, and synchronous in implementing many timely, flexible, and appropriate response measures, achieving initial positive results; Vietnam is one of the first countries with which the US agreed to negotiate.

In particular, the Prime Minister established a Working Group on enhancing cooperation and proactively adapting to the US's economic and trade policy adjustments, headed by Deputy Prime Minister Bui Thanh Son; working with Vietnamese representative agencies abroad, associations, and large enterprises exporting to the US.

After the US announced the postponement of the reciprocal tax and agreed to start negotiations with Vietnam, the Prime Minister established a Government Negotiation Team led by the Minister of Industry and Trade and directed the development of a negotiation plan. Vietnam has started negotiations and is among the six countries that the US has prioritized for negotiations (including the UK, India, South Korea, Japan, Vietnam, and Indonesia) out of more than 100 economies.

" Implementing the direction of the Politburo and General Secretary To Lam, the Government and the Prime Minister have been closely directing the Negotiation Team and ministries and agencies to monitor the situation, urgently complete the plan and be ready to negotiate with the US in the spirit of "harmonized benefits - shared risks". The first negotiation session with the US will be held on May 7 ," the Prime Minister informed.

In the context of many challenges, the Prime Minister said that in the first months of 2025, the whole country will streamline and reorganize the apparatus to ensure smooth operations; reorganize administrative units at all levels; build a two-level local government organization model and a series of accompanying legal documents.

At the same time, focus on promoting growth with a target of 8% or more. Organize many important conferences, including 9 conferences with businesses and business associations; promote disbursement of public investment capital, national target programs; promote exports, stimulate domestic consumption.

The Government also innovated the work of law making and enforcement, including submitting to the Politburo and the National Assembly for approval many breakthrough mechanisms and policies. Proposing to issue a Resolution of the Politburo and the National Assembly on law making and enforcement, developing the private economy as the most important driving force of the national economy.

Promote administrative procedure reform, improve investment and business environment; promote science and technology development, innovation and digital transformation.

" Work with many localities to remove difficulties, promote socio-economic development; inspect and urge important and key national infrastructure projects and works with the spirit of "three shifts, four shifts", "overcoming the sun, overcoming the rain, not losing to storms", "working through holidays, Tet holidays", "not enough work during the day, working at night", "eating quickly, sleeping urgently", "only discussing work, not discussing back", determined to complete in the shortest time, with the highest quality and not exceeding the budget ", the Prime Minister emphasized.

Regarding economic results, the Prime Minister said that GDP growth in the first quarter of 2025 is estimated at 6.93%, the highest compared to the same period in the 2020-2025 period. There are 9 localities with growth of over 10% (Bac Giang, Hoa Binh, Nam Dinh, Da Nang, Lai Chau, Hai Phong, Quang Ninh, Hai Duong, Ha Nam. The two economic locomotives have good growth, Ho Chi Minh City increased by 7.51%, Hanoi increased by 7.35%).

State budget revenue in the first 4 months reached over VND944,000 billion, equal to 48% of the year's estimate and up 26.3%; total import-export turnover is estimated at over USD275 billion, up 15%, trade surplus over USD5 billion; ensuring domestic food security and exporting 3.4 million tons of rice; realized FDI capital reached over USD6.7 billion, the highest in the 2020-2025 period, showing that Vietnam continues to be an attractive destination for international investors.

According to the Prime Minister's report, the socio-economic infrastructure is developed in a synchronous and modern direction, with priority given to key and important projects on highways, high-speed railways, airports, seaports, educational, medical and social infrastructure...

Source: https://baolangson.vn/thu-tuong-viet-nam-dam-phan-phien-dau-tien-voi-my-ve-chinh-sach-thue-vao-7-5-5046034.html