Positive negotiation prospects
On the morning of June 20, participating in answering questions before the National Assembly, Politburo member and Permanent Deputy Prime Minister Nguyen Hoa Binh outlined the Government's solution on stabilizing the macro economy and responding to US counterpart taxes.
Delegate Ta Van Ha (Quang Nam) questioned the US Government's imposition of a tax rate of up to 46% on some of Vietnam's key export products that are of great interest to voters and the business community.
The delegate asked the Permanent Deputy Prime Minister to say, what specific solutions does the Government have in store to support businesses to overcome difficulties? At the same time, will there be any changes in the long-term trade strategy to protect national interests, maintain and promote international trade relations towards stability, equality and sustainability?
Responding to questions, the Permanent Deputy Prime Minister of the Government said that "the 46% story should not be raised" because the two sides are still in the negotiation process.
The Permanent Deputy Prime Minister said that the two countries are in the process of negotiations. And this is Vietnam's effort to prevent the " 46% tax" from happening.
According to the Government leader, our efforts will do everything to prevent the 46% story from happening. This is the Government's determination.
The Permanent Deputy Prime Minister said that in recent times, Vietnam has made efforts at the highest level, from the phone call of General Secretary To Lam to the activities of the Government.
The Prime Minister has done a lot to prevent the 46% tax rate from happening. The prospects for negotiations are currently positive, the two sides have known each other better to strive to achieve the set goals.
However, in the face of unpredictable fluctuations, the Government has proactively built a long-term strategy. The Government under the leadership of the Politburo, the Secretariat and the Central Executive Committee have been proactive in restructuring the economy, proactively changing to reduce dependence.
Promote the advantages of free trade agreements (FTAs) that Vietnam has signed with many countries. Currently, there is still a lot of room for development and it is not dependent on a single market.
The world is still very large and we are looking for new markets, while supporting businesses to boost exports of goods.
Our country also strengthens the conversion of export structure. Focus on deep processing to create higher added value, instead of only exporting fresh, rough agricultural products.
The Permanent Deputy Prime Minister stated that in case risks occur, the Government will also be ready with tax and fee solutions to support businesses in solving difficulties.
Rejuvenating existing growth drivers
At the question-and-answer session, Delegate Mai Khanh (Ninh Binh Delegation) raised the question: "I request the Permanent Deputy Prime Minister to say that solutions need to be focused on to stabilize the macro economy and achieve the growth target of 8% per year, in 2025, creating a foundation for double-digit growth in the period of 2016-2030?".
Responding to this issue, the Permanent Deputy Prime Minister said that the Government has solutions to stabilize the macro economy and grow in conditions of many difficulties. Accordingly, it is determined to achieve a growth rate of 8% in 2025 and no less than 10% in the following years.
According to the Permanent Deputy Prime Minister, in the context of many difficulties as mentioned by delegates, such as the impact of the world economic situation, conflicts or trade competition, Vietnam needs to renew existing growth drivers, from foreign investment, consumption, to promoting key national projects.
At the same time, seek and develop new growth drivers, develop a green economy, a circular economy, semiconductors, chips, and AI. These are the areas with great development potential at the present time, which the world is also choosing.
