Businesses prepare to respond to new tariff policies

Products of supporting industry enterprises participating in a promotional event organized by the Dong Nai Young Entrepreneurs Association. Photo: V.Gia

Surveys from businesses show that, despite concerns, they still believe in the policies of the Party and the State. At the same time, businesses find ways to adapt to changes and seek their own opportunities.

Calm, cautious, restructuring

Vice President of Dong Nai Import-Export Association Nguyen Duy Hung said that although businesses are worried, they are still calm to find ways to respond. Dong Nai Import-Export Association is monitoring the situation from businesses to make recommendations and propose solutions to state agencies to support businesses.

It is forecasted that in the near future, world trade will have many changes, so businesses need to have strategies and business plans suitable to the new situation, diversify markets, and avoid being too dependent on one market.

According to data from the Dong Nai Statistics Office, enterprises in the province are in high demand for labor. In the first quarter of 2025, the labor utilization index increased by more than 7.1% compared to the same period in 2024, especially in the processing and manufacturing industries. Enterprises have more orders, so the demand for labor recruitment increases, especially enterprises employing labor in the leather, footwear, and garment industries...

According to Mr. Hung, Vietnam's domestic market of more than 100 million people is large in scale and living standards are increasing rapidly, so businesses need to focus on domestic markets and exploit the potential and strength of their country.

For wood industry enterprises, units should increase production to promptly meet orders in the second quarter of 2025 in the most favorable way; at the same time, find solutions to be able to bring more goods and products to other countries.

According to Vice President and General Secretary of the Vietnam Timber and Forest Products Association Ngo Sy Hoai, the wood industry is facing great pressure, as the US is the largest export market, accounting for over 55% of Vietnam's wood exports. This is an important time for the wood industry to review its development model and find ways to restructure. Market diversification is a story that has been talked about for a long time, but now it needs to be implemented with determination.

Besides the US, other markets such as Japan, Korea, China, Taiwan are close to Vietnam, it is important for businesses to understand their consumption habits. Instead of providing simple stages, businesses should have solutions to participate deeply in the production chain, especially in product design and brand positioning.

Find opportunity in difficulty

According to Vice President of the Vietnam Digital Agriculture Association and Chairman of the Board of Directors of Hung Nhon Group (in Ho Chi Minh City) Vu Manh Hung, the global trade war is taking place fiercely, and the domestic financial market is also experiencing many unpredictable fluctuations. However, the agricultural sector, especially enterprises exporting agricultural products to the Asian market, still recorded stability, even strong growth.

Demand for bananas, durians and pork has been steadily increasing both domestically and internationally, despite trade tensions. These are commodity groups that are less affected by political fluctuations and have been growing even in difficult times. Therefore, tariff tensions are an opportunity for Vietnam’s agricultural sector to adjust its strategy, improve its competitiveness and assert its position in the international market.

Similarly, GC Food Joint Stock Company (GC Food, in Ho Nai Industrial Park, Trang Bom District) has just held its annual general meeting of shareholders in 2025 with a growth target of 24% compared to the previous year. The company will promote research and development of new products, expand markets, and apply high technology to optimize production processes, reduce costs, and increase business efficiency.

GC Food Chairman Nguyen Van Thu said that the US delaying the imposition of reciprocal tariffs for 90 days is a positive signal. This brings golden time for Vietnamese enterprises.

According to Mr. Thu, the 10% tax rate effective from April 5 is still within the tolerance of many businesses, and has not had much impact on product prices. As for GC Food, the high proportion of domestic raw materials will help maintain price competitiveness when exporting to the US. At the same time, the company exports products to Japan, Korea and China quite well, so there will be less risk.

Van Gia

Source: https://baodongnai.com.vn/kinh-te/202504/doanh-nghiep-chuan-bi-ung-pho-truoc-chinh-sach-thue-quan-moi-e9d5026/