Many solutions to stabilize export activities have been proposed by the Ministry of Industry and Trade during the current period of many changes in trade policies in the world.

Proactively adapt to the world and regional situation

Prime Minister Pham Minh Chinh issued Directive No. 06 on key tasks and solutions to proactively, flexibly, promptly, appropriately and effectively adapt to the world and regional situation in order to achieve growth targets, maintain macroeconomic stability, curb inflation, and ensure major economic balances this year and the following years.

The Directive clearly states the objectives: Prioritize promoting rapid and sustainable economic growth, achieving this year’s GDP growth target of at least 8% and striving for double digits in the following years, associated with maintaining macroeconomic stability, controlling inflation, ensuring major balances of the economy, along with ensuring social security and environmental protection. Enhance the competitiveness, self-reliance, proactiveness, and creativity of the economy to adapt flexibly and effectively to fluctuations in the world and regional situation; promote the diversification of export markets, products, and supply chains; promote new growth drivers. Continue to effectively promote economic, trade, and investment cooperation with international partners; have solutions to balance trade with major trade partners, promote the signing of trade and investment protection agreements, contributing to promoting stable, sustainable, and long-term economic, trade, and investment relations between Vietnam and other countries.

The Directive also clearly states that the implementation motto is to ensure the highest national and ethnic interests, serving the country’s development goals in the spirit of proactiveness in dealing with situations that arise early and from afar. At the same time, strengthen dialogue and promote cooperation with other countries in the spirit of “harmonious benefits and shared risks”. The implementation process is based on fair and reciprocal trade, harmoniously and satisfactorily meeting the legitimate and legal rights and interests of all parties.

Regarding some key tasks and solutions, the Prime Minister requested the Ministry of Industry and Trade to preside over and promptly complete the Action Plan on a harmonious and sustainable trade balance with major partners, in which it is noted that the complementary nature of the trade structure between Vietnam and other countries instead of direct competition must be taken into account. The Ministry of Industry and Trade must report to the Prime Minister before March 12 for immediate implementation this March.

In addition, the Prime Minister also requested the Ministry of Industry and Trade to continue implementing solutions to diversify markets and export products, promote trade promotion ; effectively exploit free trade agreements; improve capacity, control the origin of goods to minimize the impact of foreign investment flows with signs of unhealthy, tax evasion that may affect the reputation of our country; proactively research and propose solutions to support industries and businesses to promote sustainable exports.

Many solutions to stabilize exports

In addition to the Ministry of Industry and Trade completing the action plan on a harmonious and sustainable trade balance with major partners under the direction of the Prime Minister, many solutions to stabilize export activities have also been proposed by the Ministry during the current period of many changes in trade policies in the world.

In the first two months of the year, Vietnam’s export turnover reached 65.2 billion USD, up 9.9% over the same period last year. However, Vietnam’s major export associations such as wood and textiles said they have prepared many solutions in the context of many fluctuations in the US tariff policy.

From now until the end of the year, according to calculations by the Ministry of Industry and Trade, to achieve the export target of 454 billion USD, an average of 37.8 billion USD must be exported each month. In the current context, this target requires close attention from businesses, the import-export department and foreign trade offices.

The Ministry of Industry and Trade also said it will proactively develop scenarios, thereby providing timely solutions to respond to the possibility of a global trade war. The deals will support businesses in promoting trade in markets within the bloc of countries sharing the FTA in addition to key markets so that businesses can expand their market share and avoid risks.

Diversify markets, increase quality for export

To strive to achieve the target of increasing total export turnover by 12-14% this year, it is necessary to have flexibility, efforts to overcome difficulties by the business community itself, diversify markets, and increase export quality, which are the ways many businesses are aiming for.

Bringing in 1.4 billion USD in the first 2 months of the year, an increase of 18% compared to the same period last year, the seafood industry entered 2025 with many optimistic signals. Although there was a decline in markets such as the United States or the EU, the positive response from other markets such as East Asia and Southeast Asia was the reason for the positive results. In particular, seafood is also an industry that is making good use of new-generation Free Trade Agreements (FTAs).

Not only are the markets diversified, agricultural export products are also diversified. For fruits, many businesses have focused on deep processing to catch the growth wave.

In addition to the output factor, Vietnamese enterprises are increasingly meeting better quality requirements. For example, although coffee exports have decreased in volume, they still have good prices and, especially, meet strict market standards, bringing in nearly 1.6 billion USD in the first two months of the year.

Diversifying markets, diversifying products and aiming for sustainable standards are currently the solutions being implemented by businesses and export industries in the first months of this year.

In Directive 06, the Prime Minister also directed the Ministry of Finance to preside over the review of taxes currently applied to countries, including the United States, in the spirit of ensuring harmony and balance of interests; urgently submit to the Government the amendment of Decree 26/2023/ND-CP to adjust tax rates on a number of groups of goods to ensure harmony, reasonableness, and benefits for both sides according to simplified procedures, to be completed this March.

The State Bank needs to urgently develop appropriate solutions to resolve issues related to cooperation with partners in payment and currency; apply balanced, reasonable and harmonious measures.

Other relevant ministries, sectors and localities proactively develop appropriate projects and solutions to further promote market opening for export goods and continue to create favorable conditions for foreign investment.

The Prime Minister also requested that the Directive be implemented in the spirit of “clear people, clear work, clear time, clear responsibility, clear results” to achieve the set goals; take full responsibility before the Government and the Prime Minister for the implementation results. In case of exceeding authority, it is necessary to propose solutions to the Government and the Prime Minister for timely handling.