Expanding the market, effectively exploiting national internal resources for development

Lê Thanh Phong |

The world economy was negatively affected when US President Donald Trump announced the imposition of counterpart tax policies on goods imported from other countries. Also greatly affected, Vietnam has implemented quick and active response measures. As US Ambassador to Vietnam Marc E. Knapper assessed, the high-level phone call on April 4 between General Secretary To Lam and President Donald Trump was President Trump's first phone call with a foreign leader after announcing the tax, demonstrating the two leaders' respect and concern for bilateral relations.

On April 5, Special Envoy of General Secretary To Lam, member of the Party Central Committee, Deputy Prime Minister Ho Duc Phoc departed for the US to negotiate contents related to tariffs. Hopefully, the two sides will reach agreements for the benefit of people and businesses of the two countries, promoting the development of good economic and trade relations between the two countries.

Along with foreign reactions, there is still much work to be done immediately to stabilize and develop the economy, businesses produce and do business effectively, creating jobs for people. Set out positive solutions to ensure 8% growth this year.

First of all, it is to expand the market, if it is only dependent and one or two key markets, the risk is very high. The world has many unpredictable fluctuations, from conflicts, wars, epidemics to unsatisfactory trade policies, so there cannot be no flexibility in commodity export strategies.

Second is to exploit tourism resources. A beautiful, secure, safe and friendly country that cannot be enriched by a "smokeless industry" is a waste. To be honest, Vietnam has not done tourism effectively like countries with less tourism resources.

Third, in addition to the production and export of Vietnamese goods, it is necessary to exploit the country's resources in developing the digital economy, creating high-tech products. A technology " tycoon" like NVIDIA has agreed to cooperate with the Vietnamese Government, in addition, Qualcomm, Google, Meta, LAM Research... have planned to shift the supply chain to Vietnam, develop research centers, expand investment and production in Vietnam.

At this time, it is necessary to proactively make decisions to realize cooperation with the world's leading technology partners, exploiting human resources to develop this economic sector. Limiting the exploitation of natural resources and making products using gray resources is the path that Vietnam has chosen and can completely succeed.

Lê Thanh Phong
TIN LIÊN QUAN

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Deputy Minister of Industry and Trade talks about responding to US counterpart tariffs

PHẠM ĐÔNG |

The Deputy Secretary of Industry and Trade said he would coordinate with US ministries and branches to discuss outstanding issues related to taxes and trade relations between the two countries.

Prime Minister chairs meeting on US counterpart tax on Vietnamese goods

Phạm Đông |

The Prime Minister chaired a meeting with ministries and branches before the US announced the decision to apply counterpart tariffs on Vietnamese exports to the US.

The seafood industry urgently recommends a counterpart tax rate of 46%

Thạch Lam |

VASEP expects the Prime Minister to soon negotiate with the US to agree on the time frame for tax application, and may adjust the reduction to an appropriate level.