Some economists have commented that the tax rate proposed by the US government is much higher than investors expected. The tax rate applied to Vietnam is 46% and is calculated based on the ratio of Vietnam's trade deficit to total exports to the US. The first impact will occur through exports, which could be quite large. Increasing taxes on Vietnam's export products to the US will increase the price of goods and this will reduce consumer demand in the US. Currently, Vietnam's export turnover to this market is about 142 billion USD. With the new tax policy, this figure could decrease by about 13.4 billion USD, causing significant challenges for domestic export enterprises. However, in the first months of 2025, Vietnam's export of goods to foreign markets still shows signs of increasing. In the first quarter of 2025, Binh Thuan province's export turnover is estimated at 211.6 million USD, an increase of 34.29% over the same period last year. All three groups of goods have high growth, namely aquatic products estimated at 58 million USD, an increase of 18.8% over the same period last year, agricultural products estimated at 8.62 million USD, an increase of 2.83 times over the same period last year, dragon fruit alone is estimated at 3.3 million USD, an increase of 11.42, other groups of goods are estimated at 145 million USD, an increase of 37.16% over the same period. In recent years, Binh Thuan province has had many strategies in exporting goods. Accordingly, on January 17, 2023, the Provincial People's Committee issued Action Plan No. 175 to implement Decision No. 493/QD-TTg dated April 19, 2022 of the Prime Minister approving the goods import-export strategy to 2030; Decision No. 1445/QD-TTg dated November 19, 2022 of the Prime Minister promulgating the Action Program to implement the goods import-export strategy to 2030. The plan sets a target of striving for the export turnover of goods to reach 930 million USD by 2025, 1,240 million USD by 2030, with an average growth rate of about 7.81%/year in the period 2021 - 2030. Increase the proportion of the European export market to 12.5% of total export turnover by 2025 and 15.5% by 2030. Increase the proportion of imported goods, machinery and equipment with advanced technology, clean technology to serve production and consumption. It must be affirmed that the export of goods in recent years continues to show a "bright spot" in the economic picture of the province, which is the basis for Binh Thuan to move towards new milestones in the coming time... According to the orientation of developing export products in the coming years, seafood is the main export commodity group of Binh Thuan, playing an important role in the structure of local export goods, contributing to the restructuring and economic development. Because Binh Thuan has a lot of potential for catching, processing and exporting seafood. In 2024 alone, the export turnover of goods of the province reached 791.5 million USD, of which the seafood group reached 225.9 million USD. Also in 2024, the output of aquatic products will reach 239,600 tons. Meanwhile, the agricultural product group will shift its structure towards deep processing, developing the application of advanced science and technology to improve productivity, implement green agriculture, clean products, be competitive and overcome barriers of importing countries. As for the processing and manufacturing industry group, the main export items include textiles, footwear, wood and wood products, packaging... In addition, in export activities, the locality also increases the creation of conditions for enterprises to deeply process export mineral products, support production and promote trade for craft village products, unique traditional products, rich in cultural identity and some 4-5 star OCOP products of the province to participate in export. Actively call on capable enterprises to invest in infrastructure of industrial parks and clusters in the province, creating a space to attract investment in production and business of new products to participate in export.
In addition to ASEAN countries and the Northeast Asia region, Binh Thuan province also takes advantage of new-generation free trade agreements to boost exports to Europe - a market with large capacity and many opportunities for Binh Thuan enterprises. For the Americas, the strategy focuses on promoting the export of wood and wood products, paper. On the other hand, it will continue to develop more potential export markets when Vietnam signs free trade agreements in the coming time.
Source: https://baobinhthuan.com.vn/thuy-hai-san-van-la-nhom-hang-xuat-khau-chu-luc-cua-binh-thuan-129913.html
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