At the reception (Photo: VNA)

Hanoi (VNA) – The Vietnamese Government always treasures and creates favourable conditions for enterprises from the US to land investments and operate long-term and sustainable business in the country, Deputy Prime Minister Trinh Dinh Dung has said.

Hosting a reception for some of the visiting US corporations on the sidelines of the US-Vietnam Business Summit on September 10, Deputy PM Dung highlighted the importance of the event which discussed measures to boost effective cooperation methods between Vietnam and US investors in the context of Industry 4.0.

In recent years, both nations have enjoyed substantial changes in their relations, he said, adding that Vietnam has always seen, and will continue to see, the US as a leading partner. The Asian nation wishes to bolster its comprehensive partnership with the US on the basis of respecting each other’s independence, sovereignty, territorial integrity, and political institutions, contributing to maintaining regional and global peace, stability, cooperation, and development.

He said that collaborations in economy, trade, and investment have become a crucial pillar of and a key driver for bilateral ties. After 20 years of the normalisation of relations, the US has become one of the largest trade partners of Vietnam.

Chairman of the American Chamber of Commerce Michael Kelly, who led the US business delegation, said that US investors want to expand their business scale and foster long-term investment in Vietnam. Meanwhile, there is also a queue of firms seeking investment opportunities in the country.

US Ambassador to Vietnam Daniel J. Kritenbrink said he is upbeat about the prospects and results of the cooperation between companies of both sides.

He underlined that the US Embassy always encourages US firms to enhance their presence in Vietnam.

Two-way trade increased from 7.8 billion USD in 2005 to 54 billion USD in 2017. By the end of 2018’s second quarter, the figure was 27.4 billion USD, with US imports rising more than 20 percent.

As of June this year, the US had 877 valid projects with a total registered capital of 9.37 billion USD in Vietnam, making it the 10th largest investor amongst the 128 countries and territories investing FDI in Vietnam. –VNA