Viet Nam paves the way to welcome more US investment

President Truong Tan Sang receives President of the US-ASEAN Business Council Alexander Feldman in Ha Noi. —VNA/VNS photo Nguyen Khang

HA NOI (VNS)— Viet Nam hoped to further its economic integration into major markets, including the US, through negotiations at regional and world forums.

The statement was made by President Truong Tan Sang when receiving President of the US-ASEAN Business Council (US-ABC) Alexander Feldman in the capital yesterday.

Viet Nam attached much importance to boosting trade co-operation with the US and would create favourable conditions for American enterprises to invest effectively in Viet Nam, Sang said.

Moreover, he added, by co-operating with Vietnamese partners, American businesses would enhance the economic relationship between the two countries.

Feldman said that in the future, American enterprises would expand their trade promotion activities in Viet Nam in the field of equipment and machinery.

He expressed hope that the two sides would promptly address any obstacles that lay in the way of co-operation and speed up the implementation of ongoing projects.

The US delegation also highly appreciated Viet Nam's potential mineral and energy resources, he said.

The US-ABC president also met with Deputy Prime Minister Vu Van Ninh yesterday.

Deputy Prime Minister Vu Van Ninh meets President of the US-ASEAN Business Council Alexander Feldman in Ha Noi.—VNA/VNS photo An Dang

At the reception, Ninh said Viet Nam expected to see more investment from the United States, especially in the fields of banking and finance.

Ninh expressed pleasure at the two countries' recent multifaceted co-operation, particularly in economics.

Viet Nam had seen the increasing presence of US investors here, many of whom had reaped considerable success, Ninh said, citing the fact that the US was currently the 7th largest foreign investor in the country.

He stressed the Vietnamese government's commitment to protect the legitimate interests of foreign investors, including those from the US, and said the Government was also willing to work with investors to eliminate any difficulties that they encountered.

Viet Nam was also accelerating procedures pertaining to the negotiation process of the Trans-Pacific Partnership (TPP) Agreement as part of its efforts to attract foreign investment, Ninh added.

In reply, Feldman said that during the TPP negotiation process, Viet Nam and the US would gain a richer understanding of the advantages and drawbacks of each country and foster stronger economic links.

He stressed that the US attached special importance to the Vietnamese market and hoped that once the TPP succeeded, Vietnamese consumers would have more access to American goods and vice versa.

The executive also added that the US planned to focus future investments on energy, healthcare, and telecommunications in Viet Nam.

A Viet Nam-US Trade conference will take place in HCM City on March 18 with the participation of about 70 small and medium-sised Vietnamese and American companies. — VNS