Even compared with those countries paying a tariff that is one percentage point lower, Vietnam can achieve a balanced competitive position if it fully leverages the potential of each industry and the economy as a whole, said Dr. Huynh Thanh Dien at Nguyen Tat Thanh University in an interview with The Saigon Times. FDI inflows continue to grow The Saigon Times: The Ministry of Industry and Trade has announced that the United States will impose a 20% reciprocal tariff on imports from Vietnam. How should we assess this tariff rate, and how does it compare with the rates the U.S. has announced for other countries in the region and around the world? Dr. Huynh Thanh Dien: Vietnam’s GDP growth has been driven by two key pillars: foreign direct investment (FDI) and exports. When FDI enterprises invest in Vietnam, they contribute directly to total investment capital while producing goods and services for export. The United States accounts for 29.5% of Vietnam’s total export value, with major export items including mobile phones, electronic components, textiles, and footwear. The impact of Washington’s decision to impose additional tariffs on imports from Vietnam is therefore undeniable. However, it is worth noting that compared with the […]
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