Prime Minister Nguyễn Xuân Phúc (R) meets with US business delegation in Hà Nội on Thursday. — PHoto VGP

HÀ NỘI — The Government of Việt Nam attaches great importance to friendly and co-operative relations with the US in a pragmatic manner, on the basis of respect for each other’s political institutions, Prime Minister Nguyễn Xuân Phúc told a US business delegation in Hà Nội on Thursday.

Phúc told the group, including senior managers of 29 enterprises, that the Vietnamese Government was ready to work with the administration of President Donald Trump to promote US-Việt Nam relations.

The business people, for their part, told the PM that although Trump had pulled the US out of the long-anticipated Trans Pacific Partnership (TPP), there were many mechanism in place to ensure effective co-operation between enterprises in the two countries. The US side praised Việt Nam’s improving business and investment environment, opening the door to expanding long-term business investment in the country.

Phúc said he appreciated the contribution of US businesses to the country’s development, emphasising that Việt Nam continues to reform and integrate and create favourable conditions for investors.

He hailed the success of US businesses in Việt Nam, and expressed his appreciation of their commitment to support Việt Nam in the process of development innovation. The success of US businesses, he added, is the success of Việt Nam.

“The Government of Việt Nam has paid much attention to improving the business investment environment, listening to and resolving investors’ problems,” Phúc said, “Việt Nam will continue to maintain macro-economic stability, continue to build a transparent legal environment, carry out deeper reforms, and strive to be one of the top four ASEAN countries in terms of business investment environment.”

US investors are interested in participating as strategic shareholders in the equitisation of State-owned enterprises, the Prime Minister said. “Việt Nam is committed to the implementation of signed free trade agreements, will continue to build institutions in areas which the US cares about to provide peace of mind for long-term investment in Việt Nam,” he said.

Delegation members expressed their wish to invest or expand their investment in Việt Nam in such areas as thermal power, wind power, production and distribution of animal feed, chemicals, agricultural insurance, micro finance, information technology, cinema and start up promotion.

The PM asked US businesses to urge their government and Congress to strengthen trade and investment co-operation with the region and Việt Nam, as well as support early recognition of Việt Nam’s market economy and help it in successfully organising APEC 2017. He said APEC Year 2017 was an opportunity to strengthen the connection between US and Vietnamese businesses.

On behalf of US businesses, Senior Vice President and Regional Managing Director for the US-ASEAN Business Council, Michael Michalak, said that Việt Nam was an attractive investment destination as proven by many successful US businesses in Việt Nam.

He said that US businesses supported the process of trade liberalisation, including the Comprehensive Economic Partnership Agreement (RCEP) and many other agreements. The US business community wanted to continue investing and doing long-term business in Việt Nam, he added. — VNS