Prime Minister calls on Vietnamese and American companies to strengthen their partnerships | Business

Prime Minister Pham Minh Chinh addresses the fifth Vietnam-US Business Summit. (Photo: VNA)

Jointly organized by the Vietnam Chamber of Commerce and Industry (VCCI), the American Chamber of Commerce in Vietnam (AmCham) and the United States Chamber of Commerce, the event drew direct and online participation from officials Vietnamese and Americans and representatives of companies and associations. . The US President’s special envoy for the climate, John Kerry, also delivered a speech at the summit via videoconference.

Participants at the event discussed measures to promote bilateral economic ties and outlined new directions for post-pandemic economic recovery.

US companies welcomed Vietnam’s efforts to implement its COP26 commitments with economic restructuring programs aligned with the global trend of green, circular and digital economic development, as well as efforts to promote transformation towards a green and clean energy, expand the infrastructure system and strengthen education-training. These are sectors in which American companies want to invest, they said.

Addressing the event, Prime Minister Pham Minh Chinh welcomed the desire of American companies and officials to increase investment in Vietnam, which showed the strong confidence of the United States in the country.

The prime minister said Vietnam, after more than 35 years of implementing its “Doi Moi” (Revival) cause, has achieved great achievements of historical significance.

Aiming to become a developing country with modern industry and upper-middle income by 2030, and a developed high-income nation by 2045, Vietnam is making strategic breakthroughs in terms of institutions, infrastructure and human resources, and administrative reform, he said. .

Prime Minister calls on Vietnamese and American companies to strengthen their partnerships ảnh 2 A glimpse of the summit. (Photo: VNA)

The prime minister highlighted the progress of Vietnam-US relations in all fields after 26 years of normalizing relations, with economic, trade and investment cooperation being a key pillar.

Bilateral trade has increased 248 times to reach US$111 billion in 2021. The United States is currently Vietnam’s largest export market, while Vietnam is the United States’ ninth-largest trading partner. For many years, the United States has been among the largest foreign investors in Vietnam with nearly 1,150 ongoing projects worth more than $10.3 billion.

Prime Minister Chinh said Vietnam has been heavily affected by the Covid-19 pandemic, especially in the third quarter of 2021, forcing the country to apply administrative measures to prevent its spread. However, as the vaccination rate becomes high, the country has changed its strategy to adapt flexibly, safely and effectively control the Covid-19.

So far, Vietnam is ready to reopen thanks to the scientific and practical foundation and international experience, he said, adding that the country is rapidly implementing a program of recovery and socio-economic development. economy alongside the prevention and control of Covid-19.

Prime Minister Chinh said that as one of the countries hardest hit by climate change, at COP26 Vietnam pledged to achieve net zero emissions by 2050 and a reduction of 30% of methane emissions by 2030. After the conference, Vietnam set up a national steering committee. for the implementation of these commitments, he noted.

The Prime Minister asked for support from the United States and international friends in this area, particularly to complete the institutions regarding climate change, as well as assistance in green financial resources, clean technologies and green human resources as well as green governance technology.

Vietnam has focused on digital transformation, building digital government and digital citizens, and developing digital economy and digital society, which is an obvious development trend seen in all countries. areas in Vietnam, he said.

Prime Minister Chinh called on the companies of the two countries to strengthen their partnerships to promote the practical and efficient relations between the two countries.

“With the motto of harmonious interests and shared risks, sincere feelings and trust, we already have a good foundation and strong ambition and determination, we will surely succeed,” he said.

Also on this occasion, Prime Minister Chinh hosted a reception for USABC leaders and representatives of US companies doing business in Vietnam and the region.

The prime minister said that amidst many difficulties and challenges in the global situation, Vietnam-US relations have achieved good results in various aspects under the motto of respecting each other’s views and in a spirit of equality and mutual benefit.

He pointed out that during the Covid-19 outbreak, the US government provided support to Vietnam, especially for vaccines, and US companies also joined Vietnam to overcome the difficulties posed by the pandemic.

Chinh suggested that the two sides continue to hold meetings to share ideas on cooperation and business, so as to elevate the comprehensive partnership between Vietnam and the United States to a new height with greater efficiency, thus bringing greater benefit to people and businesses in both countries.

U.S. trade commissioners appreciated the results of Vietnam’s strategy to safely and flexibly adapt and effectively control Covid-19 for socio-economic recovery and development.

They made recommendations on ways to remove a number of obstacles while noting their confidence in Vietnam’s trade policy and environment. They pledged to continue expanding business and investment in Vietnam.

In response, Prime Minister Chinh promised Vietnamese ministries and agencies would study and address the recommendations.

He urged U.S. businesses to support Vietnam in digital and energy transformation, climate change adaptation, improved health care capacity and logistics development, with a focus on strengthening policies and institutions, resource mobilization, science-technology and human resources.