In the face of the impact of the new US tariffs, in addition to challenges, Ho Chi Minh City is facing the opportunity to restructure the supply chain and shift to a new economy
On April 18th, Ho Chi Minh City High-Tech Park held a conference with the theme "High-Tech Park in the face of the impact of the US tariff policy".
At the conference, Mr. Kenneth Tse - Vice President, General Director of Intel Vietnam Factory - said that Vietnam continues to be an important manufacturing center.
In the face of unpredictable fluctuations in the world economy, to ensure growth for Vietnam, Intel representative proposed that Ho Chi Minh City should take advantage of Resolution 98/2023 of the National Assembly to have support policies for investors, especially in the high-tech sector - an industry considered a driving force for innovation and sustainable growth.
Intel representative also recommended reforming administrative procedures and optimizing processes to create a more open environment for business operations, in order to increase competitiveness and attract investment.
Working Scene
Some businesses said that although the US has temporarily suspended the imposition of a high 46% reciprocal tax, they are still significantly affected by partners reducing orders.
In this situation, businesses are forced to proactively adapt by optimizing the supply chain, expanding the consumer market and seeking new partners to maintain stable production and business activities.
Mr. Pham Binh An, Deputy Director of the Ho Chi Minh City Institute for Development Studies, commented that to support businesses to overcome challenges, Ho Chi Minh City needs to continue to effectively implement decisions related to investment, especially attracting high-tech FDI from the US.
At the same time, it is necessary to strengthen control of imported raw materials from third countries to prevent origin fraud; take advantage of the city's unique mechanisms to build appropriate investment policies, creating a foundation for sustainable development for businesses.
Prof. Dr. Nguyen Ky Phung, Head of the Management Board of the Ho Chi Minh City High-Tech Park, informed that in 2022, the export rate to the US market compared to other markets was 3.52%; in 2023 it was 4.08%; in 2024 it was 7.07% and in the first 3 months of 2025 it was 11%.
This shows that the US tariff policy significantly affects businesses in the High-Tech Park, but the extent needs to be considered and evaluated.
According to Mr. Phung, in that situation, businesses need to find other markets to replace. "The High-Tech Park has more than 160 businesses, including 6 US businesses and 37 businesses with the US market. Therefore, the High-Tech Park is greatly affected by the new policy" - Mr. Phung said.
Associate Professor, Dr. Le Quoc Cuong, Deputy Head of the Management Board of Ho Chi Minh City High-Tech Park, said that in the first quarter of 2025, the export value reached VND 115,381 billion, the import value was VND 116,516 billion.
According to Mr. Cuong, the new US tariff policy is not only a trade barrier, but also a catalyst for the restructuring of the global supply chain and geostrategic shifts in core industries.
In that context, Ho Chi Minh City - the national economic and innovation center - is facing a strategic moment to reposition its role in the Southeast Asian economic space.
This situation poses an urgent need to restructure the export growth model, promote the shift in industry structure, protect jobs and improve the adaptability of the city's economy to external shocks.
This is also an opportunity for Ho Chi Minh City to accelerate the transition to a greener, more digital, creative and self-reliant economy; restructuring export markets and improving product quality.
Le Tinh
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