Science and technology ministry offers support to FDI enterprises amid US new trade policies

Science and technology ministry offers support to FDI enterprises amid US new trade policies

The US accounts for a significant share of the total export turnover of many foreign-invested (FDI) technology enterprises in Việt Nam.

Deputy Minister of Science and Technology Bùi Hoàng Phương meets with foreign-invested technology businesses in Hà Nội on Thursday. — Photo hanoimoi.vn

Deputy Minister of Science and Technology Bùi Hoàng Phương on Thursday spoke with representatives of foreign-invested technology enterprises about the US’s new trade policies.

He provided a brief overview of the Vietnamese Government's policies and strategies to respond to the US’s imposition of ‘reciprocal tariffs’, later put on hold, on more than 180 countries worldwide, including Việt Nam.

While emphasising that the US trade policies are implemented on a grand scale and do not target any specific country, the official also stressed that the Vietnamese Government is closely monitoring the situation, and proactively engaging in dialogue with the US to protect the legitimate interests of businesses and workers in Việt Nam.

He added that during their high-level phone conversation on April 4, General Secretary Tô Lâm and US President Donald Trump, agreed that the relations between Việt Nam and the US are developing positively across multiple sectors.

The US market currently accounts for a significant share of the total export turnover of many foreign-invested (FDI) enterprises in Việt Nam, especially large technology corporations such as Samsung, Amkor, Qualcomm and BYD.

Representatives of these companies expressed concerns about potential impacts from any tariff policy, and asked for timely support from the Ministry of Science and Technology and other related authorities.

Deputy Minister Phương stressed that the Vietnamese Government and the ministry always stand by FDI enterprises in difficult times.

“The Ministry of Science and Technology will continue to listen and consider opinions and recommendations from businesses to offer practical and effective solutions to specific problems,” he said.

He assigned the Department of Information Technology – an organisation under the ministry that performs the advisory and regulatory functions over the information and digital technology industry – to serve as the contact point to receive businesses’ feedback and proposals.

The department will also coordinate with related ministries and agencies to submit recommendations to the Government to further support businesses, he added.

“The ministry is always ready to work with any enterprise that faces difficulties or challenges,” he said. 

Bizhub