On March 20, National Assembly Chairman Vuong Dinh Hue received a business delegation from the US-ASEAN Business Council (USABC). This was the third meeting between the National Assembly Chairman and the USABC since the beginning of the 15th term.
The key goals of the National Assembly and the Government of Vietnam are to create breakthroughs in the fields of infrastructure, institutions and human resources; promote the application of science and technology, innovation, digital transformation, green transformation, sustainable development, and actively contribute to responding to climate change.
The Vietnamese National Assembly and the National Assembly Chairman themselves are pleased and have high hopes when they know that large US businesses and corporations consider Vietnam a strategic market, share the same vision as Vietnam's development orientation, and are committed to long-term investment and expanding their investment portfolios.
The National Assembly Chairman acknowledged and highly appreciated the US Government’s commitment to consider granting Vietnam market economy status. According to the National Assembly Chairman, this is a practical and important step, affirming the US’ commitment and will to realize the vision and strategic orientation of the two countries’ leaders.
At the same time, he said that if this is done soon, it will be a testament to the trust between the two countries, creating a premise for cooperation in all fields and bringing practical benefits to businesses and people of the two countries.
The National Assembly Chairman hopes that large US corporations and businesses will have a voice and play a role in providing objective information, contributing to promoting internal consensus of the US Government/Congress on removing Vietnam from the list of non-market economy countries.
The National Assembly Chairman said that countries such as Canada, Japan, South Korea, Australia, and recently the UK have officially recognized Vietnam as a market economy. Currently, Vietnam has participated in many free trade agreements with many major partners in the world with high standards.
President and CEO of USABC, US Ambassador to Vietnam for the 2014-2017 term, Ted Osius highlighted the commitment of US businesses in realizing the potential of the Comprehensive Strategic Partnership.
Mr. Ted Osius said that the large number of businesses coming to Vietnam showed their interest in seeking opportunities as well as recognizing the great potential and investment and business opportunities in Vietnam. USABC President and CEO Ted Osius said that along with the potential to develop into a manufacturing and logistics center in the global supply chain, Vietnam also has great potential in energy development cooperation.
USABC also made recommendations and sent a report providing the US Department of Commerce with evidence demonstrating Vietnam's market economy.
Enterprises investing and operating in Vietnam are very interested in the Vietnamese market and point out areas with great potential for cooperation between the two countries such as: energy development, supply chain, innovation... Vietnam plays an important role and can take advantage of the opportunity to become an important link in the global supply chain.
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