Representatives from various industry associations and enterprises in the province attended the meeting.
Businesses proactively develop response scenarios
According to the report, Binh Duong is currently one of the leading dynamic economic hubs in the Southern region, with an estimated import-export turnover of 59 billion USD in 2024. This includes exports reaching 34.5 billion USD (an increase of 12.7%) and imports amounting to 24.5 billion USD (an increase of 12.2%), resulting in an estimated trade surplus of 10 billion USD. Exports from Binh Duong currently account for over 10% of the total export value of the entire country.
Overview of the working session
The US market consistently holds a significant share in the province's export activities, contributing over 43% to the total export turnover in recent years.
From April 5th to 8th, 2025, Binh Duong recorded the cancellation of 44 export declarations valued at over 708 million USD, 273 orders were either canceled or put on hold by US customers, and at least 175 more orders are at risk of cancellation in the near future. The sectors most severely affected include wooden furniture, textiles, footwear, electronics, and plastics.
Industry associations in Binh Duong have proactively developed their own scenarios, preparing for both possibilities: the US maintaining the current tariffs or further increasing them after 90 days. Despite considerable concerns, the majority of businesses are hopeful that the Government will successfully negotiate with the US regarding reciprocal tariffs.
Industry associations and businesses present recommendations
Mr. Nguyen Quang Vu - Chairman of the Binh Duong Leather and Footwear Association, opined that businesses should not solely focus on the US market but need to expand to other potential markets and attract more small-scale customers. The Association proposed the establishment of research and development centers for new products in Vietnam to help customers access, experience, and choose suitable designs. Additionally, markets such as Taiwan were also assessed as having significant growth potential if businesses capitalize on opportunities effectively.
In the long term, the industry needs support for the development of supporting industries, especially raw materials such as rubber for shoe soles and component details. The Association also recommended the construction of specialized marketplaces where businesses can regularly showcase and sell products, instead of relying on large-scale fairs held sporadically. Trade connection events between provinces or inter-regional linkages also need to be organized more frequently. Amidst the current economic difficulties, the Association hopes that relevant agencies such as fire prevention and control and environmental authorities will implement reasonable inspection policies to avoid adding further pressure on businesses.
Mr. Tran Thanh Trong - Chairman of the Binh Duong Electro-Mechanical Association, stated that goods exported to the US are specific items and have not been significantly affected as customers still accept higher prices. He noted that the Government is responding very promptly and hoped that the province would also step up activities to support businesses. He proposed strengthening the development of the domestic market and improving the quality of labor in the electrical industry, which is currently facing a shortage of highly skilled workers.
Creating Favorable Conditions for Export Businesses
At the working session, leaders of provincial departments and agencies pledged to accompany and support businesses, creating all favorable conditions for them; and offered short-term and long-term recommendations and solutions to help businesses proactively respond to tariff scenarios in the future.
Mr. Nguyen Thanh Binh, Deputy Head of the Sub-Department of Customs Area XVI, informed that the Sub-Department had held dialogues with 400 businesses in the province to grasp the situation and update daily data on businesses exporting to the US. Simultaneously, it proactively established a Business Support Team; created information channels to address issues for businesses promptly; thoroughly implemented the spirit of responsibility, arranged staff to work even on holidays to process export procedures for businesses; and closely coordinated between units to ensure rapid customs clearance of goods. The Sub-Department also proposed accelerating tax refunds, limiting the transfer of goods to inspection channels, having the policy to extend the storage period for goods in bonded warehouses that are about to exceed the 24-month limit, temporarily suspending inspection and examination activities, etc., creating favorable conditions for businesses to focus on exporting.
Leaders of departments and agencies deliver speeches at the working session
Mr. Ha Van Ut - Director of the Industry and Trade Department, expressed his hope that the 90-day temporary suspension of tariffs by the United States would help businesses resolve many outstanding issues. He emphasized that these are 90 "golden days" for businesses to seize the opportunity to export orders; restructure value chains, improve structural weaknesses, transition to a sustainable and diversified growth strategy; and strengthen supply chains.
The province has developed a plan to combat fraud, counterfeiting, and control the origin of goods to protect domestic businesses, and will continue to implement supportive policies to help businesses shorten the time for resolving administrative procedures; promptly address and resolve difficulties for businesses, etc.
Through the exchange of opinions from industry associations and businesses, Mr. Bui Minh Tri – Vice Chairman of the PPC shared the difficulties faced by businesses. He also stated that in the near future, the province will implement more transparent measures to prevent the situation of businesses from "disguising" themselves and engaging in trade fraud in exports. Regarding the proposal for a mechanism to directly support businesses, he said that the province will study and have specific policies in the near future.
Mr. Bui Minh Tri – Vice Chairman of the PPC concluded the working session
The Vice Chairman of the Provincial People's Committee acknowledged the recommendations and proposals from associations and businesses and stated that he would report them to the provincial leadership for consideration and resolution, while also proposing solutions to the Government to alleviate difficulties for businesses. He urged businesses to proactively maintain the stability of their workforce and promptly report any difficulties to the province for timely support. Additionally, the province will propose a temporary reduction in inspection and examination activities for businesses from now until the end of June 2025 to create favorable conditions for production stabilization; and establish a rapid response team to address challenges faced by businesses, etc.