Production workers at Hue Leather and Footwear Joint Stock Company

Seize the opportunity

At this time, Hue Leather and Footwear Joint Stock Company is focusing on production to meet orders for the Japanese market, while closely monitoring specific information on detailed tariff policies for each item from the US market to take new steps. Mr. Nguyen Xuan Tinh, Chairman of the Board of Directors and General Director of Hue Leather and Footwear Joint Stock Company said: "We will negotiate and renegotiate with customers from the US to find a suitable direction, ensuring the harmony of interests of both parties, because this has been a potential market for the company for many years". Along with that, Mr. Tinh also had a field survey in Spain and Portugal, with the expectation of accessing new markets.

Mr. Tinh shared that three months ago, when the US announced that it would impose a tax rate of up to 46% on goods exported from Vietnam, he was quite worried. The company's two large shipments that were in the final stages of being exported to the US market faced the risk of being subject to very high taxes. Fortunately, the US side at that time extended the deadline by three months for the two sides to conduct trade negotiations. Taking advantage of that time, the company completed and successfully exported two shipments on schedule last June.

The strategy of sticking to the US market while proactively seeking new markets is not only applied by Hue Leather and Footwear Joint Stock Company, but has become a common solution for many export enterprises in Hue.

According to Mr. Tran Van My, Chairman of the City Business Association and General Director of Scavi Hue Company, the US market currently accounts for about 20% of the company's total export turnover and the company has never intended to abandon this market. According to Mr. My, Vietnam has made efforts to negotiate trade to obtain reasonable tax rates. In addition, Scavi has also conducted more detailed research on the US market, striving to meet all the increasingly high demands from customers to not only maintain but also expand its market share in this market.

Mr. My also emphasized: "Through this tariff story, businesses need to look back and restructure the entire production operation process. We need to switch to a green, modern production model with transparent origin of raw materials. It may be difficult at first, but this is the path to creating sustainable advantages in the future."

Hue Leather and Footwear Joint Stock Company proactively seeks new markets

The power of digital transformation, green transformation

Faced with the developments of the new US tariffs, Hue Textile and Garment Joint Stock Company has chosen to closely monitor the situation and focus on production. Currently, more than 4,000 employees of Hue Textile and Garment Joint Stock Company are competing in production to meet orders for markets in many countries around the world , including the US market. According to Ms. Nguyen Hong Lien, General Director of Hue Textile and Garment Joint Stock Company, proactively forecasting risks and determining the operating mindset in the context of a constantly fluctuating market is a consistent principle in production and business management, to help businesses not be passive or "shocked" by sudden changes.

Ms. Lien also affirmed that the Company's "resistance" is the solidarity and consensus of the collective, along with promoting internal intelligence and promoting the application of digital transformation and green transformation. The Company is also actively applying AI technology to improve product quality, meeting the increasingly stringent requirements of international customers. In addition, the Company also regularly organizes field surveys in many countries to grasp consumer trends, thereby adjusting production promptly, better meeting market demand. "When the demand is properly grasped, supply will become more favorable," Ms. Lien emphasized.

The US is a key market, accounting for a large proportion of the export turnover of many key industries in Hue City, especially the textile and garment industry. According to statistics, the city currently has more than 60 textile and garment manufacturing enterprises, contributing about 70% of the total export turnover and creating jobs for more than 25,000 workers. Besides the US, other key markets include South Korea, Japan, China, Singapore and many European countries.

The Hue City Business Association always accompanies businesses as a bridge. The Association representative said that it has proposed the government and relevant agencies to synchronously deploy 4 key groups of solutions, including: Promoting trade promotion and expanding the market to areas less affected by tariffs; supporting credit through debt deferral, debt forgiveness and preferential loans; providing legal information, promptly updating tax regulations and export standards; organizing training courses on risk management, digital transformation and branding.

According to economic experts, Hue export enterprises need to proactively diversify markets, make better use of Free Trade Agreements (FTAs) and expand the domestic market. At the same time, they need to gradually innovate production models, improve supply chains, enhance competitiveness and move towards sustainable business.

In addition to efforts from businesses, experts also recommended that the Government should more strongly implement international trade promotion activities, support businesses in connecting with partners and taking advantage of incentives from current FTA agreements, creating a combined strength to help domestic businesses in general overcome difficulties and continue to develop stably in the future.

Article and photos: HAI THUAN

Source: https://huengaynay.vn/kinh-te/khong-de-bi-dong-truoc-rao-can-thuong-mai-155766.html