Hanoi (VNA) - State President Luong Cuong has asked the US business community to seize current opportunities in Vietnam, expand their presence and invest more deeply and broadly in the country, thereby ushering in a new era of promising, sustainable cooperation together.
The Vietnamese State leader made the call during a discussion with US businesses in New York on September 23 (local time) as part of his US trip for the 80th United Nations General Assembly High-Level Debate and bilateral activities.
The event brought together senior executives and representatives of major US corporations including Vantive, Amazon, Apple, AES, Amway, Boeing, Excelerate Energy, Warburg Pincus, The Asia Group, Excel Services Corporation, Atlas Air, Meta and The Coca-Cola Company.
President Cuong recalled that after nearly 40 years of “Doi Moi” (Renewal) policy, Vietnam has transformed from an inefficient economy with per capita income under 100 USD in 1986 into one of the world’s 32 biggest economies, with trade turnover ranking among the world’s top 20. It has signed 17 new-generation free trade agreements, creating a tightly connected network with more than 60 major economies worldwide, he noted.
He stressed that the 30-year history of Vietnam-US relations is a vivid testament to reconciliation and trust building, with economic, trade and investment cooperation serving as a central pillar. Bilateral trade reached nearly 140 billion USD in 2024, while the effective operations of leading US corporations in Vietnam clearly demonstrate mutual trust and the potential for partnership. Outlining Vietnam’s long-term vision of becoming a prosperous and happy nation, and a high-income developed country by 2045, the State President underlined that the country is pursuing bold institutional reforms, improving human resource quality and upgrading infrastructure as core drivers of growth.
Among the key steps taken, Vietnam has completed the building of a two-tier local government system nationwide to ensure efficiency and effectiveness, revised major laws such as the Law on Investment, the Law on Enterprises and the Land Law to create a more open and transparent business environment, and rolled out the National Digital Transformation Strategy, administrative reforms, e-government initiatives, and policies to promote innovation, the green economy and renewable energy, said the Vietnamese leader.
Calling for more investment from US businesses, President Cuong reaffirmed that the Vietnamese State is committed to providing the most favourable conditions for US investors to confidently choose Vietnam as a long-term destination to accompany the country in building a prosperous and sustainable future together.
US companies reflected on their ongoing investment cooperation in Vietnam, highlighted the country’s vast potential and opportunities for collaboration, and shared experience and recommendations to further strengthen their contribution to Vietnam’s development.
They expressed admiration for Vietnam’s remarkable socio-economic progress, praised its forward-looking development strategy, and voiced confidence that with the directions already set, Vietnam will become an attractive destination for international investors and achieve more successes in the future.
Sharing common goals and priorities with Vietnam, from driving digital transformation and boosting exports to ensuring equitable development, the US businesses agreed that Vietnam has strong potential to become a top destination across multiple sectors, reaffirming their commitment to expanding investment and cooperation in the country./.
