In 2024, the export turnover to the US market of local enterprises carrying out customs clearance procedures at Vinh Phuc Customs Branch will reach 547.1 million USD, accounting for 3.1% of the province's total export turnover; in the first quarter of 2025, it will reach 125.6 million USD, accounting for 3.6% of the province's total export turnover.
Main export items include motorbike components, garments, helmets, footwear of all kinds, household appliances, electronic components...
According to the assessment of the Department of Finance, when the 46% reciprocal tax rate is applied, the cost of Vietnamese products in general and Vinh Phuc products in particular in the US market will increase, reducing competitiveness compared to goods from other countries, leading to a decrease in export turnover from Vietnam, including Vinh Phuc.
In addition, the US's application of high reciprocal tax rates makes the investment environment in Vietnam in general and Vinh Phuc in particular less attractive; at the same time, it affects industrial production activities and the labor market. According to a survey by the Industrial Park Management Board, the whole province has 45 enterprises directly affected and 49 enterprises indirectly affected by the new tax policy.
At the conference, representatives of a number of enterprises assessed the impact of the new US reciprocal tax policy on their production and business activities; discussed and shared short-term and long-term response solutions; recommended and proposed to the Central Government and the province response solutions to ensure stable production and business situation and the province's socio -economic development goals in 2025.
Leaders of relevant departments and branches affirmed that they will accompany and provide maximum support to businesses to overcome difficulties. In particular, Vinh Phuc Customs Branch is ready to closely coordinate with the business community, promptly resolve problems related to import-export activities, tax policies, and ensure transparency in granting certificates of origin of goods.
Speaking at the conference, Chairman of the Provincial People's Committee Tran Duy Dong said that currently, countries and territories, including Vietnam, are promoting negotiations with the United States on tariff issues.
While waiting for the negotiation results, Chairman of the Provincial People's Committee Tran Duy Dong requested departments, branches and localities to continue to firmly pursue the highest goal, striving for double-digit growth in 2025.
Advise on the synchronous, flexible and effective implementation of macroeconomic policies in the province, especially monetary, fiscal, trade, investment and other macroeconomic policies to support the economy, businesses and investors; proactively identify difficulties, obstacles and barriers that directly impact the province's economic development process and affect the production and business activities of enterprises to focus on resolving them.
At the same time, strongly develop the domestic market through activities to promote the distribution of goods via digital platforms, e-commerce and deploy solutions to stimulate consumption and promote trade.
Organize more effective and practical implementation of investment promotion programs and plans, plans to enhance the province's competitiveness; focus on cutting administrative procedures, and pay attention to building a high-quality, capable workforce.
Ensure adequate supply of electricity and water for production; invest in upgrading and completing transport and logistics infrastructure to reduce production costs of enterprises, create favorable conditions to attract new investors and retain enterprises and investors who have invested and are investing in the province.
For businesses and investors, Chairman of the Provincial People's Committee Tran Duy Dong suggested that they need to trust in the leadership and diplomacy of the Party and State leaders; not to panic, maintain their courage and intelligence, calmly handle the situation proactively, creatively, flexibly, promptly, and firmly grasp the situation to respond appropriately and effectively; quickly get used to and switch from the state of "high import tax on raw materials" to "high import tax on finished products".
Strengthening trade defense capacity, strongly switching to FOB production so that customers can share taxes; proactively negotiating with importers to share tax burdens; transparent origin of goods, building a clear process for managing raw material origins, avoiding dependence on raw materials from a few countries.
At the same time, diversify export markets, seek alternative markets; increase distribution of goods via e-commerce platforms; improve production processes, proactively transform digitally, enhance the application of scientific and technological achievements; and strengthen domestic supply chain linkages.
Comrade Tran Duy Dong hopes that businesses will continue to share frankly, make recommendations, and give timely advice in the spirit of harmonious benefits and shared risks. Vinh Phuc province is committed to always accompanying, supporting, and promptly removing difficulties and obstacles for businesses.
Thanh An
Source: http://baovinhphuc.com.vn/Multimedia/Images/Id/126669/Vinh-Phuc-luon-dong-hanh-ho-tro-kip-thoi-cho-doanh-nghiep
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