Dr. Ngo Tri Long: We need to take quick action,...

According to Dr. Ngo Tri Long, in the face of this challenge, the urgent requirement is to have strategic, quick and synchronous actions from both the public and private sectors to minimize negative impacts and ensure sustainable growth goals.

Key export industries are directly affected. Textiles, footwear, wood products and electronics are under great pressure. Tax increases can push up product prices, reducing competitiveness.

Instead of just reacting passively, Dr. Ngo Tri Long emphasized that this is the time for Vietnam to reposition its export strategy, including diversifying markets, improving trade compliance capacity and effectively coordinating between the State and the business community to protect national interests in an increasingly complex global trade environment.

Dr. Ngo Tri Long shared information at a conference.

For short-term solutions, the focus is on strengthening bilateral and multilateral dialogue. Establishing and effectively operating trade dialogue channels with partners, especially the United States, should be promoted. Through high-level consultations, Vietnamese authorities can clarify their views on fair and transparent trade policies. It is recommended to review inappropriate anti-dumping and anti-subsidy tariffs. Use the World Trade Organization (WTO) dispute settlement mechanism when necessary.

In addition, timely support for the business community such as: Providing early and complete information about investigations and risks from the market. Legal support, consulting on documents, improving response capacity. Encouraging businesses to diversify markets, reduce dependence on some traditional partners...

Along with that, review the rules of origin and enhance traceability. Develop an electronic traceability system, connect data throughout the chain. Prevent trade fraud, protect the “Made in Vietnam” brand.

Make effective use of free trade agreements (FTAs). In the context of the US market with many barriers, businesses need to expand exports to major FTA markets such as the EU, Japan, Korea, ASEAN and CPTPP countries. Take advantage of tariff incentives, simplify customs procedures. Invest in improving product quality, meeting the strict standards of high-end markets.

The synchronous implementation of short-term solutions not only helps businesses adapt to fluctuations, but also creates a solid foundation for long-term response policies, protects national interests and enhances Vietnam's position in the international trade arena.

Regarding the long-term strategy, Dr. Ngo Tri Long said that it is necessary to restructure exports in a proactive and sustainable direction and enhance resistance to fluctuations.

In particular, innovating the export model in depth. Exporting raw materials and simple processing is no longer a sustainable path. Vietnam needs to increase the localization rate and technology content in products. The shift to green products and digital products will be a new driving force for growth. Vietnam is also making efforts to shift from the processing model to a model based on design, branding and creativity.

Establishing a regular trade dialogue mechanism between Vietnam and the US is a necessary step to remove obstacles and open up opportunities for cooperation in the supply chain and two-way investment.

Enhance competitiveness through innovation and logistics development. Global competition is no longer based solely on price but also on quality, speed and service. Businesses need to accelerate digital transformation in production, management and marketing.

Dr. Ngo Tri Long emphasized that a strong export economy cannot rely solely on tax incentives or passive shifts from the outside. Vietnam needs to proactively reposition its export strategy, increase its competitiveness from within, from localization rates, technological capacity, to transparency and negotiating ability in the international arena. Difficulties are also opportunities for Vietnam to prove its mettle and rise up with its own internal strength.

MANH HUNG

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Source: https://baodaknong.vn/ts-ngo-tri-long-can-co-hanh-dong-nhanh-chong-dong-bo-de-bao-dam-tang-truong-ben-vung-248205.html