Promoting research on the 'duty-free port' model...

Tariff Response Solutions

Prime Minister Pham Minh Chinh has just signed and issued Official Dispatch No. 47/CD-TTg dated April 22, 2025 on key tasks and solutions to promote economic growth in 2025.

According to the telegram, the Prime Minister requested all levels and sectors to prioritize promoting economic growth in conjunction with macroeconomic stability, controlling inflation and ensuring major balances of the economy. Agencies need to proactively monitor the international and regional situation, respond flexibly, promptly and effectively with policies; at the same time, develop specific response scenarios to avoid being passive and surprised. In particular, it is necessary to immediately deploy solutions to respond to the new US tariff policy, and develop fiscal policies to support affected businesses and workers.

The Prime Minister noted that 37 provinces and cities that have not yet achieved the GRDP growth target for the first quarter of 2025 according to the proposed scenario need to closely coordinate with the Ministry of Finance to analyze the causes and propose feasible, breakthrough solutions to ensure acceleration in the coming time.

Regarding credit policy, the State Bank is assigned to direct credit institutions to cut costs, promote digital transformation to reduce lending interest rates; at the same time, quickly build preferential credit packages such as: a support package for people under 35 years old to buy houses and a long-term loan package of about 500 trillion VND for businesses investing in infrastructure and digital technology.

In the field of public investment, the Prime Minister requested drastic and effective implementation of measures to promote disbursement, striving to complete 100% of the public investment capital plan in 2025; using public investment to lead private investment, and strengthening public-private cooperation. At the same time, he requested strict handling of weak officials who shirk responsibility and fail to complete disbursement tasks.

In addition, the Prime Minister directed ministries, branches and localities to proactively develop mechanisms to selectively attract foreign investment, focusing on large-scale, high-tech, environmentally friendly FDI projects; shorten administrative procedures, promptly support FDI enterprises to remove difficulties, and promote project implementation progress.

In the consumer sector, it is necessary to strengthen the connection between supply and demand, linking production with distribution and consumption; encourage e-commerce to support the consumption of domestic goods and local products; continue to implement nationwide promotional programs, bringing goods to remote, border and island areas.

Finally, the Prime Minister requested to step up trade promotion, effectively utilize 17 existing FTAs; promote negotiations and sign new FTAs ​​with potential markets. At the same time, it is necessary to strengthen control of origin fraud, strictly handle violations, provide full market information and legal support in international trade and investment activities.

The Prime Minister directed research into the "duty-free port" model to gradually turn Vietnam into a large-scale logistics center.

Promoting digital economic development

The Prime Minister emphasized the need to strongly promote modern economic pillars such as: digital economy, green economy, circular economy, creative economy, sharing economy. At the same time, focus on developing emerging industries and fields with great potential such as artificial intelligence, big data, cloud computing, renewable energy, biomedicine, cultural industry, entertainment industry, etc.

New business models should be encouraged, focusing on the following areas: wholesale, retail, processing and manufacturing, tourism and logistics. In addition, the National Assembly Resolution on pilot policies with breakthroughs in investment, finance and bidding, with controlled testing methods, should be seriously implemented.

The Prime Minister also requested to promote the role of science and technology funds, venture capital funds, startups and innovation. Encourage flexible cooperation models such as: "public investment - private management", "private investment - public use", "public leadership - private management", creating conditions to promote the initiative and creativity of intellectuals and scientists.

Some key economic localities will be studied to build free trade zones. Along with that, the "duty-free port" model will be implemented to turn Vietnam into a major logistics center in the region, increasing the distribution of goods via digital platforms.

The Ministry of Science and Technology is assigned to review, amend and complete the legal system, mechanisms and policies on science - technology, innovation and digital transformation. The focus is on removing bottlenecks and unlocking development resources. In April 2025, the draft Decree on innovation and creative startups will be completed and submitted to the Government. It is expected that in the second quarter of 2025, a list of national strategic technologies will be developed and submitted to competent authorities for promulgation.

At the same time, it is necessary to develop modern and synchronous digital infrastructure; strongly commercialize 5G, research 6G technology, develop telecommunications satellites, upgrade national telecommunications backbone infrastructure and expand 5G coverage, aiming for the number of 5G stations to reach 50% of the current number of 4G stations.

Source: https://baodaknong.vn/day-manh-nghien-cuu-mo-hinh-cang-mien-thue-tung-buoc-dua-viet-nam-tro-thanh-trung-tam-logistics-250234.html