A high-level Vietnam-US conference on investment and innovation was held in Hanoi on September 11. (Photo: VietnamPlus) Hanoi (VNA) – Technology and innovation, production investment, financial services and technology, and trade and services were the centre of discussions at a high-level Vietnam-US conference on investment and innovation held in Hanoi on September 11.
At the event, representatives of US businesses said they will further step up investment and business activities in Vietnam, focusing on high technology, especially in the semiconductor industry.
Vietnamese enterprises also expressed their desires to collaborate with US businesses in production and business.
Minister of Planning and Investment Nguyen Chi Dung said that Vietnam aims to attract selective investments towards developing the digital economy, green economy, and knowledge economy. Accordingly, the country prioritises attracting investment in projects in high technology, electronics, semiconductors, innovation, renewable energy, as well as research and development activities, he said, adding that these are also areas where the US has potential and strengths.
Minister of Planning and Investment Nguyen Chi Dung speaks at the conference. (Photo: VietnamPlus) Dung proposed American businesses continue to increase investment and expand business in Vietnam, supporting domestic businesses to participate deeply in the value chain. He urged semiconductor corporations such as Intel, Amkor, Marvell, Global Foundries, and the American Semiconductor Association to develop chip and semiconductor ecosystems in Vietnam.
He also suggested Boeing develop a regional-scale component manufacturing ecosystem and aircraft machinery and equipment maintenance centre in Vietnam.
Dung noted that the Ministry of Planning and Investment is committed to providing support and creating favourable conditions for US and Vietnamese businesses to make successful investments.
Meanwhile, US Secretary of State Antony Blinken spoke highly of Vietnam's potential and advantages in attracting US investors in the fields of innovation, semiconductor industry, and high technology. He affirmed that the US will continue to assist Vietnam in this regard which is in line with the interests of the parties and people of the two countries.
According to the diplomat, Vietnam and the US will jointly implement agreements, consolidate and develop the cooperative relationship. US investments in Vietnam will not only increase in terms of quantity but also focus on quality, contributing to creating jobs for citizens of the two countries, he continued.
Innovation is key to the future
At the conference, Vietnamese Prime Minister Pham Minh Chinh and US President Joseph Biden welcomed the landmark agreement worth 7.8 billion USD between Boeing and Vietnam Airlines, which will support more than 30,000 jobs in the US.
According to President Biden, technology will change more in the next 10 years than it did in the last 50 years, thus the two countries should work together, especially in the field of green energy.
PM Chinh said that he and the US President agreed to turn technology, innovation, and investment into a truly new important pillar of the freshly established comprehensive strategic partnership between the two countries.
Prime Minister Pham Minh Chinh (right) suggests businesses of the two countries devote time, efforts, intelligence, and prioritise investment in science and technology and innovation. (Photo: VietnamPlus) Emphasising that innovation is the key to the future, PM Chinh called on businesses from both countries to prioritise investment in science and technology, innovation, especially digital transformation, the semi-conductor industry, green growth, renewable energy, climate change fight, and the circular economy.
Vietnam sees science, technology, and innovation as the main motivators for national development, and its consistent policy is to call for investment and to open markets with all partners and businesses around the world, especially those from the US, he stated.
To create more favourable conditions for enterprises, Vietnam has been focusing on developing human resources, building preferential policies to speed up digital transformation and further develop renewable energy, semiconductor industry, high-tech parks, and innovation and financial centres, participating in the global value chain, and attracting foreign strategic investors.
The Vietnamese Government leader expressed his hope to continue receiving political support from the US Government and President Biden, as well as the US business community’s commitments in terms of capital, science and technology and high-quality human resources training. Support in these sectors will help Vietnam transform its growth model and restructure the economy in a green, sustainable, and inclusive direction, he said./.
