Hanoi (VNA) - Prime Minister Pham Minh Chinh has reaffirmed Vietnam’s strong and clear commitments to the US business community, highlighting three specific aspects that the country can assure them while addressing a roundtable with American businesses in Hanoi on March 1.
The Government leader pledged that Vietnam ensures the foreign-invested sector remains an important pillar of the country’s economy, while guaranteeing the legitimate rights and interests of investors and businesses, and maintaining political stability, public order, and policies that reflect Vietnam’s conditions while harmonising with the evolving Vietnam-US relationship.
He called on US businesses to work alongside the Vietnamese Government and people in a “three-shared” approach -listening and understanding, sharing vision and action, and collaborating for mutual success.
PM Chinh expressed his hope that US businesses will continue to expand operations in Vietnam, contributing to promoting the comprehensive strategic partnership between the two countries.
The US is Vietnam’s second-largest trade partner and a top investor, and one of the biggest export markets. At the same time, Vietnam is the US's seventh-largest trading partner. The growing presence of US corporations highlights their confidence in Vietnam’s economic potential and investment climate.
At the discussion, US business leaders welcomed the upgraded comprehensive strategic partnership between the two countries and praised Vietnam’s sustained efforts to improve its investment environment.
They cited ongoing administrative reforms, government transparency, and regular dialogue with businesses as positive developments. However, they urged Vietnam to accelerate improvements in areas such as work permits, visas, residence cards, administrative processing times, and compliance costs. Further policy clarity, tax incentives, and infrastructure upgrades were also on their wish list.
In response, PM Chinh assured investors that Vietnam will continue its work on three strategic breakthroughs - improving legal and institutional frameworks, developing modern infrastructure, and nurturing high-quality human resources. He reiterated Vietnam’s commitment to building a transparent, fair, and predictable business environment for all economic players, both domestic and foreign.
He urged US companies to go beyond investment capital, encouraging them to actively support technology transfer, workforce training, and sustainable development in Vietnam. Particular focus, he said, should be placed on emerging industries such as semiconductors, artificial intelligence, cloud computing, biotechnology, and advanced materials.
Emphasising the importance of deeper business linkages, the Prime Minister encouraged US businesses to help Vietnamese companies integrate into US and global supply chains, and to view Vietnam as a strategic investment hub. He urged them to conduct business responsibly, respecting both Vietnamese law and environmental standards, while also contributing to Vietnam’s social welfare programmes.
Moreover, he asked US businesses to provide candid feedback to the Vietnamese government on policy reforms, to advocate for the US to officially recognise Vietnam as a market economy, and to push for Vietnam’s removal from the US’s high-tech export control list - consistent with the deepening trust and interdependence between the two countries.
Noting that Vietnam has set a target of 8% GDP growth in 2025, laying the foundation for double-digit growth in the years that follow. This ambitious goal aims to propel the country into a new era of rapid and sustainable development, aligning with its two centenary milestones - the 100th anniversary of the Communist Party of Vietnam and the 100th anniversary of national foundation, the PM urged US businesses to actively participate in achieving these goals for the mutual benefit of both nations, while contributing to the ongoing success of the bilateral comprehensive strategic partnership./.
