Proactively find new markets
In 2024, Binh Duong's import-export turnover will reach 59 billion USD, of which the US market accounts for more than 43% of total exports. Recently, many businesses have been concerned about being affected by the US counterpart tax policy. Despite concerns, most businesses expect the government to successfully negotiate with the US on counterpart tariffs.
Currently, industry associations in Binh Duong have proactively built their own scenarios, preparing situations for both possibilities: the US maintains the same tax or continues to increase after 90 days of suspension.
Leather shoe businesses propose plans to build new product research and development centers in Vietnam to help customers access, experience and choose suitable designs. Markets such as Taiwan (China) are also assessed to have much room for development if businesses take advantage of the opportunity.
In the long term, the industry needs to be supported in developing supporting industries, especially materials such as rubber for shoe soles and component parts. The Leather Shoes Association also recommends building specialized markets so that businesses can regularly introduce and sell products, instead of relying on large fairs that are rarely held. Notably, many businesses in Binh Duong are proactively looking for new markets outside the US. Asia everything Technology Co., Ltd. (Tan Uyen City), with about 1,000 employees and 90% of its products exported to the US, has prepared to cope with upcoming fluctuations by making financial preparations, reducing costs and expanding orders to the UK, Canada, Japan, and South Korea markets...
Facilitating businesses to focus on exports
Recently, the XVI Regional Customs Branch organized a dialogue with 400 provincial enterprises to grasp the situation and daily update of data on enterprises exporting to the US, and proactively establish a Business Support Team, creating an information channel for timely handling for enterprises.
Mr. Nguyen Thanh Binh - Deputy Head of the Customs Branch of the XVI Region - said that he has thoroughly grasped the sense of responsibility, arranged staff to work on holidays to handle export procedures for businesses, and closely coordinated between units to ensure goods are cleared quickly. The Department has also proposed to speed up tax refunds, limit the flow of screening, and have an extension policy for goods being kept in an outdoor warehouse that is about to expire for 24 months to support the extension of the time for outdoor warehouses, creating favorable conditions for businesses to focus on exporting goods.
Chairman of Binh Duong Provincial People's Committee Vo Van Minh has directed departments and branches not to conduct inspections and examinations of enterprises until the end of June 2025, except in cases where there are signs of violations. Request the Customs authority to arrange staff and civil servants to work all day on Saturdays, Sundays and holidays to process export documents for businesses. Request businesses that when they need to export information promptly to the Customs agency for service.
Mr. Vo Van Minh suggested that the Tax and Customs authorities carry out tax refund procedures quickly and shorten the time to process tax refund records to facilitate businesses.
