Prime Minister Nguyen Tan Dung has promised to further create favourable conditions for US companies to do business successfully and take the lead among foreign investors in Vietnam.
PM Dung made the commitment during his separate meetings with leaders of the US leading groups in Washington on April 14, which was jointly organised by the US Chamber of Commerce and the US-ASEAN Business Council.
He said, as a developing nation with limited socio-economic infrastructures and potential domestic market, Vietnam has mobilised available resources to develop its infrastructures, especially in transport, energy, irrigation, health care and education sectors, along with stepping up its production and exports.
As a result, Vietnam successfully managed to keep inflation at 6.52 percent and record an economic growth rate of 5.32 percent in 2009, while the flow of foreign direct investment reached 21 billion USD and the pledged official development assistance exceeded 8 billion USD for the 2010 fiscal year, PM Dung stressed.
Regarding future development directions, the PM said Vietnam is deploying a range of strategic solutions to lay a foundation for its rapid and sustainable growth, focusing on completing market economy institutions, creating an equal competition environment for all economic sectors, facilitating production and business activities, and accelerating its international economic integration.
The country will take full advantage of all available resources to upgrade its infrastructures, develop human resources, especially high-quality personnel, promote the application of scientific and technological advances, speed up administrative reforms and strengthen the state management capacity, he noted.
In terms of investment incentives, the leader stated Vietnam will continue to improve its investment environment to attract more foreign investment, with priority given to hi-tech projects, auxiliary industry, human resources and infrastructure development, farm produce processing, service industries with high added value and sectors that contribute greatly to the country’s exports and help ensure social security, environmental protection and national security.
The governments of Vietnam and the US have set up a ministerial-level Trade and Investment Framework Agreement (TIFA) Council, which serves as a forum for the two nations to discuss issues related to trade and investment policies and the implementation of commitments to the Bilateral Trade Agreement (BTA) and the World Trade Organisation (WTO).
The two countries are now negotiating the Bilateral Investment Treaty (BIT) and the Trans-Pacific Strategic Economic Partnership Agreement (TPP), the PM added.
Executives of the US companies said they will continue to invest in Vietnam, particularly in information technology, finance, banking, infrastructures, education and training.
The US enterprises urged the Vietnamese Government to tackle difficulties regarding transport systems, seaports, energy, skilled workforce, managers and administrative procedures to facilitate their long-term business in the country.
Despite the adverse impacts of the global economic-financial crisis, two-way trade between Vietnam and the US reached 15 billion USD in 2009, 10-time higher than 2001.
The US now has more than 500 valid projects with a combined registered capital of over 15 billion USD, ranking 6 th among 90 countries and territories investing in Vietnam . In 2009 alone, US investors registered to pour 9.8 billion USD into Vietnam – the largest amount by foreign firms./.
PM Dung made the commitment during his separate meetings with leaders of the US leading groups in Washington on April 14, which was jointly organised by the US Chamber of Commerce and the US-ASEAN Business Council.
He said, as a developing nation with limited socio-economic infrastructures and potential domestic market, Vietnam has mobilised available resources to develop its infrastructures, especially in transport, energy, irrigation, health care and education sectors, along with stepping up its production and exports.
As a result, Vietnam successfully managed to keep inflation at 6.52 percent and record an economic growth rate of 5.32 percent in 2009, while the flow of foreign direct investment reached 21 billion USD and the pledged official development assistance exceeded 8 billion USD for the 2010 fiscal year, PM Dung stressed.
Regarding future development directions, the PM said Vietnam is deploying a range of strategic solutions to lay a foundation for its rapid and sustainable growth, focusing on completing market economy institutions, creating an equal competition environment for all economic sectors, facilitating production and business activities, and accelerating its international economic integration.
The country will take full advantage of all available resources to upgrade its infrastructures, develop human resources, especially high-quality personnel, promote the application of scientific and technological advances, speed up administrative reforms and strengthen the state management capacity, he noted.
In terms of investment incentives, the leader stated Vietnam will continue to improve its investment environment to attract more foreign investment, with priority given to hi-tech projects, auxiliary industry, human resources and infrastructure development, farm produce processing, service industries with high added value and sectors that contribute greatly to the country’s exports and help ensure social security, environmental protection and national security.
The governments of Vietnam and the US have set up a ministerial-level Trade and Investment Framework Agreement (TIFA) Council, which serves as a forum for the two nations to discuss issues related to trade and investment policies and the implementation of commitments to the Bilateral Trade Agreement (BTA) and the World Trade Organisation (WTO).
The two countries are now negotiating the Bilateral Investment Treaty (BIT) and the Trans-Pacific Strategic Economic Partnership Agreement (TPP), the PM added.
Executives of the US companies said they will continue to invest in Vietnam, particularly in information technology, finance, banking, infrastructures, education and training.
The US enterprises urged the Vietnamese Government to tackle difficulties regarding transport systems, seaports, energy, skilled workforce, managers and administrative procedures to facilitate their long-term business in the country.
Despite the adverse impacts of the global economic-financial crisis, two-way trade between Vietnam and the US reached 15 billion USD in 2009, 10-time higher than 2001.
The US now has more than 500 valid projects with a combined registered capital of over 15 billion USD, ranking 6 th among 90 countries and territories investing in Vietnam . In 2009 alone, US investors registered to pour 9.8 billion USD into Vietnam – the largest amount by foreign firms./.
