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Minister vows support for US, Vietnamese firms in high-tech economy

Minister of Planning and Investment Nguyen Chi Dung has pledged to join other ministries, sectors, and localities to provide optimal conditions for US and Vietnamese enterprises to successfully make investment and do business, thus helping generate sustainable values and boost connections for common interests to secure prosperity for both countries.
Minister vows support for US, Vietnamese firms in high-tech economy ảnh 1The event, attended by Vietnamese Prime Minister Pham Minh Chinh and US President Joseph Robinette Biden Jr., is co-chaired by Dung and US Secretary of State Antony Blinken. (Photo: VNA)
Hanoi (VNA) – Minister ofPlanning and Investment Nguyen Chi Dung has pledged to join other ministries,sectors, and localities to provide optimal conditions for US and Vietnamese enterprisesto successfully make investment and do business, thus helping generatesustainable values and boost connections for common interests to secureprosperity for both countries.

So said the official while reportingon the outcomes of the high-level conference between the US and Vietnam on investment andinnovation held in Hanoi on September 11.

The event, attended by VietnamesePrime Minister Pham Minh Chinh and US President Joseph RobinetteBiden Jr., was co-chaired by Dung and US Secretary of State AntonyBlinken. It saw the presence of 14 outstanding firms from both countriesand formed part of the US leader’s State visit to Vietnam.

Minister Dung said Vietnam’s directionfor the time ahead is to selectively attract investment to develop a digitaleconomy, green economy, circular economy, and a knowledge-based economy. Priorityis given to high technology, electronics, the semi-conductor industry, innovation,renewable energy, new energy (hydrogen), financial centre development, moderntrade in services, infrastructure development, and research and development.

These are also the fields the US isstrong in, he noted, adding that the two countries are complementary to eachother in these areas.

Atthe conference, Dung said, he asked US enterprises to keep making new andexpanding investments in Vietnam and assist local firms to engage in supplychains.

He suggested semiconductormanufacturers like Intel, Amkor, Marvell and Global Foundries and the USSemiconductor Industry Association develop a semiconductor ecosystem, andcoordinate with his ministry’s National Innovation Centre to build training andR&D centres to design chips and semiconductors in Vietnam.

Hecalled on Boeing to develop a component production ecosystem and set up a regional-levelmaintenance centre for aviation equipment and aircraft in the country.

In addition, the minister also asked financialinstitutions and investment funds of the US to help provide concessional creditand finance for green areas like renewable and hydrogen energy development inVietnam, help the country develop regional and international-level financialcentres, and promote bilateral trade.

Meanwhile, he recommended Vietnamesefirms proactively learn experience, acquire and apply technology, improve theirgovernance capacity, and accumulate capital in order to become able to joinglobal value chains and cooperation activities that generate higher value, Dungreported./.
VNA
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