Vietnam will enhance dialogue and negotiate on the US and this is also an opportunity to restructure economic, prepare policies to support businesses, according to the Prime Minister.
In the evening of April 7, Prime Minister Pham Minh Chinh presided over the conference with ministries, 94 Vietnamese representative agencies abroad, associations and businesses to proactively adapt the new situation on international trade.
The Prime Minister assessed the world situation, the area was very fast, complicated and more challenging than favorable. Vietnam is a developing country, the economic scale is still modest and highly open, so the fluctuations in the world can affect.
Government leaders repeat the response spirit as “no panic, bewilderment, fear”. According to him, the US imposed new tariff policies affecting the world economy, including Vietnam, but is not as difficult as the early years of renovation or resistance period, struggled for national independence, unification of the country and being surrounded and embargoed.
On the other hand, the Prime Minister said that this is also an opportunity for Vietnam to restructure the economy, diversify markets, products and supply chains. Therefore, “Vietnam will strengthen dialogue, negotiation, no confrontation, causing tensions, complicated problems,” he said.
The operator also oriented to choose a smart, flexible approach and “try to do the things that can be done, choose the most effective option, harmonize the interests of the two sides”.
Prime Minister Pham Minh Chinh spoke at the meeting on 7/4. Image: VGP
The Prime Minister also recalled the United States as the largest export market but not the only. Vietnam still has many other potential markets that need to make more efficient use, especially in exploiting 17 free trade agreements signed with more than 60 economies.
According to the Prime Minister, Vietnam has grown stronger and brave enough to adapt flexibly and effectively with any fluctuations that occur in the world and the region. “Vietnam must rise strongly, only strong, not allowed to weaken,” he said, note that agencies and businesses unite, join forces and unanimously in difficult times.
On April 2, the US published the application of imported import tax to more than 180 trading partners. Vietnam is among the groups of countries with the highest tax rate with the tax rate of 46%, expected to take effect from 9/4. This policy is seen affecting exports to the US market and many other fields such as processing industry, manufacturing, attracting FDI, private investment, consumption, domestic jobs …
According to Deputy Minister of Foreign Affairs Nguyen Minh Vu, about 50 countries offered negotiations with the US. However, Vietnam is one of the countries with the earliest reaction, first direct exchange of the highest leadership with the US. This is important for bilateral negotiations here.
Delegates attending the conference said that the situation was unpredictable. The negotiations between the United States and partners are able to gradually change the global trade – investment structure, shape the supply chains, especially the high -tech field and strategic items. This, according to the delegates, places the developing economy in an increasingly difficult position, is more under competitive pressure in trade, attracts investment and participates in supply chains.
This year, Vietnam aims to grow economic growth at least 8%, to create a foundation to achieve two numbers in the next period. The first quarter, GDP increased by 6.93%, the highest 5 years.
To achieve growth targetPrime Minister Pham Minh Chinh directed ministries and localities to continue implementing the “strategic quartet”, including breakthrough in science and technology development, innovation innovation and digital conversion, streamlining apparatus, developing private economic sector and international integration.
“These are the contents that are closely linked to each other, which is difficult that we have to do and be sure to succeed,” he said.
The Prime Minister said the Government and ministries and agencies continued to implement three strategic breakthroughs in the direction of “airy institutions, smooth infrastructure, manpower and intelligent management”. This is to support and create favorable conditions for businesses.
In terms of institutions, the Government leader requires reducing time, costs and business conditions for people and businesses at least 30% this year. He assigned the Ministry of Finance and the State Bank to have a plan to support businesses in difficult cases.
In particular, the Prime Minister directed the State Bank to implement a preferential credit package of about VND 500,000 billion for science and technology, innovation and strategic infrastructure.
Regarding the fiscal policy, he said that he would propose a competent authority to continue reducing value added tax (VAT) in 2025-2026 and research to adjust the level of family circumstances when calculating personal income tax.
At the same time, monetary policy continues to be flexibly managed by the authorities, synchronously with the reasonable expansion of fiscal policies. The Government, ministries and ministries negotiate market expansion, ensuring that enterprises approach equality of mechanisms, resources, intellectual property rights and anti -fraud.
The Prime Minister asked overseas representative agencies to closely follow, firmly grasp the situation and propose solutions to increase the connection of Vietnam’s economy to the country and local areas. The connection includes supporting businesses to find markets, finding outputs for products.
In the opposite direction, the Government suggested that businesses diverse markets, supply chains and increase cooperation and trade promotion. “Enterprises need to improve self -reliance, self -reliance, restructuring, product quality, branding, application of science and technology and operate in law,” he added.