Event news - Binh Duong businesses take advantage of 90 "days...

Attending were representatives of industry associations and businesses in the province.

Businesses proactively develop response scenarios

According to the report, Binh Duong is currently one of the leading dynamic economic centers in the South, with an estimated import-export turnover of 59 billion USD in 2024, of which exports will reach 34.5 billion USD (up 12.7%), imports will reach 24.5 billion USD (up 12.2%), and a trade surplus of 10 billion USD. Exports from Binh Duong currently account for more than 10% of the country's total export value.

Overview of the working session

The US market alone has always accounted for a large proportion of the province's export activities, contributing over 43% of total export turnover in recent years.

From April 5 to 8, 2025, Binh Duong recorded 44 export declarations worth more than 708 million USD being canceled, 273 orders were canceled or suspended by US customers, and at least 175 orders are at risk of being canceled in the coming time. The most affected industries include wooden furniture, textiles, footwear, electronic equipment and plastics.

Industry associations in Binh Duong have proactively developed their own scenarios, preparing for both possibilities: the US keeps the tax unchanged or continues to increase it after 90 days. Despite many concerns, most businesses expect the Government to successfully negotiate with the US on reciprocal taxes.

Industry associations and businesses present recommendations

Mr. Nguyen Quang Vu - Chairman of the Binh Duong Leather Footwear Association said that businesses should not only focus on the US market, but also expand to other potential markets and attract more retail customers. The association proposed establishing new product research and development centers in Vietnam to help customers access, experience and choose suitable models. In addition, markets such as Taiwan are also assessed to have a lot of room for development if businesses take advantage of the opportunity.

In the long term, the industry needs support to develop supporting industries, especially raw materials such as rubber for shoe soles and components. The Association also recommends building specialized markets so that businesses can regularly introduce and sell products, instead of depending on large fairs that are held periodically and infrequently. Business connection sessions between provinces or regional links also need to be held more frequently. In the context of economic difficulties, the Association hopes that relevant agencies such as fire prevention, fire fighting and environment have reasonable inspection policies to avoid putting more pressure on businesses.

Mr. Tran Thanh Trong - Chairman of the Binh Duong Province Electromechanical Association said that the export items to the US are special, so they have not been affected much because customers still accept high prices. Currently, the Government is responding very quickly, so he hopes that the province will also need to promote activities to support businesses. He proposed to strengthen the development of the domestic market and improve the quality of labor in the electricity industry - which is lacking highly skilled human resources.

Facilitate export businesses

At the meeting, leaders of provincial departments and branches committed to accompanying and supporting, creating favorable conditions for businesses; at the same time, providing recommendations and short-term and long-term solutions to help businesses proactively respond to tariff scenarios in the coming time.

Mr. Nguyen Thanh Binh - Deputy Head of the Regional Customs Branch XVI said that the Branch has organized dialogues with 400 provincial enterprises to grasp the situation and update daily data on enterprises exporting to the US. At the same time, proactively established a Business Support Team; created an information channel to promptly handle for enterprises; thoroughly grasped the sense of responsibility, arranged staff to work even on holidays to handle export procedures for enterprises; closely coordinated between units so that goods could be cleared quickly. The Branch has also proposed to speed up tax refunds, limit screening transfers, have an extension policy for goods stored in bonded warehouses that are about to expire after 24 months to support extending the time of storage in bonded warehouses; temporarily suspend inspection and examination activities... to create conditions for enterprises to focus on exporting.

Leaders of departments and branches spoke at the meeting

Mr. Ha Van Ut - Director of the Department of Industry and Trade expressed hope that the 90 days of the US tax suspension will help businesses resolve many outstanding issues. He emphasized that these are 90 "golden days" for businesses to take advantage of exporting orders; restructuring value chains, improving structural weaknesses and switching to a sustainable growth strategy, diversifying markets; and strengthening supply chains.

The province has developed a plan to combat fraud, counterfeiting, and control origin to protect goods for domestic enterprises, and continues to have accompanying policies to support enterprises in shortening the time to handle administrative procedures; promptly removing and handling obstacles for enterprises...

Through the discussion of industry associations and enterprises, Vice Chairman of the Provincial People's Committee Bui Minh Tri shared the difficulties of enterprises and said that in the coming time, the province will implement more transparent measures to prevent the situation of "disguised" enterprises and trade fraud in export. Regarding the proposal for a direct support mechanism for enterprises, he said that the province will study and have specific policies in the near future.

Vice Chairman of the Provincial People's Committee Bui Minh Tri concluded the working session.

The Vice Chairman of the Provincial People's Committee acknowledged the recommendations and proposals of associations and enterprises and will report to the provincial leaders for research and resolution, and at the same time make recommendations to the Government to remove difficulties for enterprises. He requested that enterprises proactively maintain a stable workforce and promptly report difficulties to the province for timely support. In addition, the province will propose to temporarily reduce inspection and examination activities of enterprises from now until the end of June 2025 to create conditions for enterprises to stabilize production; establish a rapid response team to remove difficulties for enterprises...

Source: https://www.binhduong.gov.vn/Lists/TinTucSuKien/ChiTiet.aspx?ID=15925