Prime Minister works with USABC to foster economic and investment ties
US businesses appreciated the increasingly favourable investment and business environment in Vietnam, as well as the country’s strong commitments, vision, and concrete actions, particularly the administrative streamlining efforts. They reaffirmed their commitment to long-term investment, production, and business cooperation with Vietnam in the coming period.
PM Pham Minh Chinh (centre, front row) and the USABC delegation. (Photo: VNA)
Hanoi (VNA) - Prime Minister Pham Minh Chinh had a working session in Hanoi on July 11 with a d🦩elegation from the US-ASEAN Business Council (USABC), which comprises♍ executives from major US and global corporations now on a business trip to Vietnam.
The guests came from leading firms such as Abbott, Amazon, Apple, Boeing, Brunswick, Citibank, Exxon Mobil, Ford, Google, IBM, Intel, Manulife, Meta, UPS, Warburg Pincus, Odgers Berndtson, and Zuellig Pharma.
They expressed their appreciation for PM Chinh’s regular engagement with them, noting that such a dialogue consistently leads to tangible progress in easing their concerns.
US businesses appreciated the increasingly favourable investment and business environment in Vietnam, as well as the country’s strong commitments, vision, and concrete actions, particularly the administrative streamlining efforts. They reaffirmed their commitment to long-term investment, production, and business cooperation with Vietnam in the coming period. At the same time, they put forward several recommendations and proposals, aiming to build a stronger and more effective relationship.
After hearing feedback from US companies, PM Chinh directed relevant ministries and agencies to promptly review and act on the companies’ recommendations with clear timelines and accountability, stressing the principle of ensuring clear roles, tasks, deadlines, outcomes, responsibilities, and authority.
He also urged deeper cooperation with US firms, especially in emerging sectors like sci-tech, innovation, digital transformation, and artificial intelligence.
Briefing the guests on Vietnam's current situation, PM Chinh stressed that the country is continuing its reforms and will pursue even more changes ahead, creating the most favourable conditions for people and businesses, placing them at the centre of policies, while shifting from passive to active approach and from management to service delivery.
Regarding areas of the US firms’ interests, the Government leader highlighted Vietnam's commitment to ensuring equal access to resources between domestic and foreign enterprises, and streamlining visa regulations and labour policies, among others.
Vietnam and the US have basically reached consensus on a joint statement on a fair and balanced reciprocal trade agreement framework, laying the foundation for advancing stable and sustainable economic and trade ties that benefit people and businesses of both nations, he underscored.
PM Chinh took this occasion to thank the US companies for their support and contributions to pushing ahead the negotiations as well as promoting investment and business cooperation between the two countries, bringing tangible benefits to both sides.
At the working session (Photo: VNA)
To continue enhancing the quality and effectiveness of the trade – investment – business cooperation, he also requested that the US business community continue to have voice and partner with the Vietnamese Government in dialogues with US agencies to achieve a specific agreement on reasonable tariffs for individual products and product groups towards stable, harmonious, sustainable, and mutually beneficial trade turnover.
PM Chinh urged the US enterprises to advocate for sustainable economic, trade, and investment ties between the two countries, not using trade defence measures against Vietnamese exports, or avoiding any actions that could harm the increasingly positive bilateral relationship. He also proposed the US side soon recognise Vietnam’s market economy status and remove the country from the list of high-tech export restrictions.
The government leader suggested the US firms to step up high-quality investment in Vietnam, increase the transfer of advanced technologies, and support Vietnamese businesses in enhancing governance capability and workforce training, particularly in sectors such as agriculture, processing and manufacturing, semiconductors, and artificial intelligence.
He requested the US companies to create more favourable conditions for Vietnamese firms to integrate more deeply into their global supply chains and to continue providing policy advice to help the Vietnamese Government improve institutional and regulatory frameworks.
To support US businesses in Vietnam and concretise the Vietnam - US Comprehensive Strategic Partnership with the spirit of "harmonising benefits and sharing risks", the Vietnamese Government will continue streamlining administrative procedures, and regularly reviewing and improving laws and policies to ensure an increasingly open, transparent, and equitable environment for investment, production, and business activities, and guarantee legitimate rights and interests of investors, while helping enterprises cut compliance, input and logistics costs, enhance competitiveness, and operate stably, efficiently, and sustainably in the country, PM Chinh stressed./.
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