PM Pham Minh Chinh speaks at the event. (Photo: VNA) Hanoi (VNA) – Prime Minister Pham Minh Chinh had a working session with a delegation of the US-ASEAN Business Council (USABC) in Hanoi on March 22, during which he said Vietnam wants to promote its comprehensive partnership with the US in a practical, effective, equal and mutually-beneficial manner.
The delegation comprised leaders of over 50 leading US and world businesses like Netflix, Boeing, Apple, Coca-Cola, Pfizer, Abbott, Visa, Citibank, Meta, Ford, Fedex Express, among others.
PM Chinh affirmed that Vietnam always considers the US one of the top important partners, adding that the Vietnamese Government always stays ready to listen to the US firms to deal with difficulties in the spirit of harmonising benefits and sharing risks.
He said Vietnam is carrying out three strategic breakthroughs, including building and fine-tuning institutions, reforming administrative procedures and training human resources, developing modern and synchronous infrastructure, and prioritising the development of emerging economic sectors such as green economy, circular economy and digital economy. Vietnam already inked 15 free trade agreements with over 60 countries and territories, thus creating favourable conditions for enterprises.
Expressing his belief in Vietnam’s growth prospect in the future, USABC President and CEO Ted Osius said the US enterprises are committed to doing long-term business in Vietnam.
US Ambassador to Vietnam Marc E. Knapper said it is the biggest-ever US business delegation to Vietnam, showing the US’s commitment to promoting ties with the Southeast Asian country on the basis of respecting independence, sovereignty, territorial integrity and political regime of each other for the common goal of prosperity of each country, the region and the world.
Representatives of US business expressed their desire to continue investing in Vietnam, particularly in green transformation, digital transformation, energy transition, finance, manufacturing, automobile industry, entertainment industry, healthcare, science and technology, logistics, and others.
They offered suggestions related to a legal framework for e-commerce, cybersecurity and information access, tax policies, reform of the capital market to draw investment, easier visa policies, acceleration of licensing of several projects and products, and improvement of Vietnam's product standards.
The PM asked Vietnamese ministries and agencies to grasp and deal with their proposals.
PM Pham Minh Chinh and leaders of US companies. (Photo: VNA) The Vietnamese Government will continue making it easier for US firms to expand operations in Vietnam and help the Vietnamese enterprises join more deeply in the US’s production value chain, PM Chinh said.
He suggested both sides continue discussing to tackle difficulties in production and trade and improve the business environment.
The government leader provided information about specific sectors of the USABC and US businesses’ interest such as digital economy and innovation, healthcare, energy, agriculture and aviation.
He suggested the USABC continue acting as a bridge between the US Government and businesses with their Vietnamese counterparts, support the promotion of bilateral cooperation channels, enhance practical and effective cooperation with Vietnam on the basis of optimising the potential of the Vietnam-US comprehensive partnership framework, especially in economy, trade and investment; as well as carry forward the US administration’s increased economic and trade activities with ASEAN, contributing to maintaining peace, stability, cooperation and development in Asia-Pacific and Southeast Asia in particular.
PM Chinh proposed the USABC further expand business and investment activities in Vietnam, focusing on the fields where Vietnam has demand the USABC businesses have strength; and strengthen coordination among business associations to make it easier for Vietnamese firms to join the global supply and value chains.
The PM called on the USBAC to work with Vietnam to build special policies to draw the US’s multinational corporations in large-scale and hi-tech projects, construction of R&D centres and incubators, and facilitate technology transfer to Vietnamese firms, especially in production of vaccines and medicines, medical equipment, hi-tech; digital, clean and smart agriculture; and climate change adaptation.
Vietnam is ready to import machinery, equipment, tools and spare parts from the US to improve trade balance with the US, he said.
He expressed support for joint work with the US Government to set up a bilateral cooperation mechanism on trade promotion to review the potential, demand and opportunities between the two countries.
The leader believed that USABC and the US enterprises will be instrumental in bolstering the Vietnam-US comprehensive partnership to bring growth and jobs to the two countries' people for the sake of peace, stability, cooperation and development in the region and the world./.
