Business community plays important role in Việt Nam-US ties: Deputy PM

July 01, 2021 - 13:59
The US business community plays an important role in promoting economic partnership between Việt Nam and the US, Deputy Prime Minister Phạm Bình Minh has said.


The online talks between Việt Nam and 500 US firms. — VNA/VNS Photo

HÀ NỘI — The US business community plays an important role in promoting economic partnership between Việt Nam and the US, Deputy Prime Minister Phạm Bình Minh has said.

The Deputy PM was speaking during online talks with US firms on Wednesday to discuss promoting bilateral ties and supporting Việt Nam in its post-pandemic recovery and development.

At the event, which gathered representatives of nearly 500 US firms, Minh said the Vietnamese Government is working hard to control COVID-19 and boost economic growth.

He said Việt Nam has maintained positive growth, with an expansion of 2.91 per cent in 2020 and 5.64 per cent in the first half of 2021. Meanwhile, the International Monetary Fund has forecast that the Vietnamese economy will expand 6.5 per cent this year.

The Deputy PM said economic cooperation plays a key role in Việt Nam-US relations. Two-way trade has grown to US$90 billion in 2020 from $450 million in 1994.

Over the years, the US has been the largest export market of Việt Nam, while the country is 11th out of 40 countries and territories investing in Việt Nam, with a total capital of nearly $10 billion. Combined with investment through a third country, US investors have poured more than $14 billion into Việt Nam, noted Minh, adding that many leading American firms are prospering in Việt Nam.

Deputy PM Minh recognised and lauded the contributions of US businesses, including the US Chamber of Commerce, US-ASEAN Business Council, and Business Council for International Understanding, in deepening economic ties between the two countries.

The Vietnamese Government is always willing to listen to straightforward and constructive opinions from US firms regarding the national investment and business environment, as well as ideas on measures to enhance ties between the two countries, said Minh.

The Deputy PM praised the US commitment of $4 billion to the COVID-19 Vaccines Global Access (COVAX) initiative, expressing a hope that the government and businesses of the US will continue helping Việt Nam access vaccine sources as well as vaccine production technology.

Representatives of the US firms hailed Việt Nam’s achievements in COVID-19 prevention and control, as well as the economic cooperation potential between the two countries.

They proposed a number of ideas on how to foster bilateral cooperation in digital economy, infrastructure building, renewable and green energy, and sustainable development, as well as collaboration in areas of Việt Nam’s demand and the US' strength.

They spoke highly of the coordination among ministries, sectors and localities of Việt Nam in seeking measures to remove obstacles facing foreign investors.

Participants also discussed initiatives and solutions to support Việt Nam in accessing vaccine supplies and seeking cooperation in vaccine production, as well as in post-pandemic economic recovery and development. — VNS