The US business community plays an important role in promoting economic partnership between Vietnam and the US, stated Deputy Prime Minister Pham Binh Minh at an online talks with US firms on June 30 to exchange visions, initiatives and solutions in promoting bilateral ties and supporting Vietnam in post-pandemic recovery and development.
Deputy Prime Minister Pham Binh Minh (Photo: VNA)
– The US business community plays an
important role in promoting economic partnership between Vietnam and the US,
stated Deputy Prime Minister Pham Binh Minh at an online talks with US firms on
June 30 to exchange visions, initiatives and solutions in promoting bilateral
ties and supporting Vietnam in post-pandemic recovery and development.
At the event, which gathered representatives of nearly 500
US firms, Minh affirmed that the Vietnamese Government is working hard in
implementing the dual targets of controlling COVID-19 and boosting economic
He noted that Vietnam has maintained positive growth, with
expansion of 2.91 percent in 2020 and 5.64 percent in the first half of 2021.
Meanwhile, the International Monetary Fund forecast that the Vietnamese economy
will expand 6.5 percent this year.
The Deputy PM affirmed that economic cooperation plays a key
role in the Vietnam-US relations. Two-way trade has grown strongly to 90
billion USD in 2020 from 450 million USD in 1994.
Over the years, the US has been the largest export market of
Vietnam, while the country is on the 11th position out of 40
countries and territories investing in Vietnam, with total capital of nearly 10
billion USD. Combining with investment through a third country, US investors
have poured over 14 billion USD in Vietnam, noted Minh, adding that many
leading American firms are operating profitably in Vietnam in many areas.
Deputy PM Minh recognised and highly valued contributions by
the US businesses, including the US Chamber of Commerce, US-ASEAN Business
Council, and Business Council for International Understanding, in deepening the
economic ties between the two countries.
The Vietnamese Government is always willing to listen to
straightforward and constructive opinions from US firms regarding the country’s
investment and business environment, as well as ideas on measures and solutions
to lift up ties between the two countries, especially in economy, trade and
investment, stated Minh.
On this occasion, the Deputy PM lauded the US commitment of
4 billion USD to the COVID-19 Vaccines Global Access (COVAX) initiative,
expressing a hope that the Government and businesses of the US will continue
assisting Vietnam in accessing vaccine sources as well as vaccine
production technology, thus soon overcoming COVID-19 impacts to recover the
At the event (Photo: VNA)
Representatives of the US firms hailed Vietnam’s
achievements in COVID-19 prevention and control, as well as the economic
cooperation potential between the two countries.
They gave a number of ideals 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
Vietnam’s demand and the US’s strength.
They spoke highly of the close coordination among
ministries, sectors and localities of Vietnam in seeking measures to remove
difficulties and obstacles facing foreign investors, including those from the
Participants discussed a number of initiatives and solutions
to support Vietnam in accessing vaccine supplies and seeking cooperation in
vaccine production, as well as in the post-pandemic economic
recovery and development./