The United States is ready to help Vietnam exploit its potential.

Speaking at the Vietnam-US Summit on Investment and Innovation, President Joe Biden emphasized that businesses of the two countries need to work together to strengthen and enhance cooperation to go further in the future.

Tổng thống Joe Biden: Hoa Kỳ sẵn sàng giúp Việt Nam khai thác tiềm năng

Prime Minister Pham Minh Chinh, US President Joe Biden, Secretary of State Antony Blinken, and Minister of Planning and Investment Nguyen Chi Dung at the Conference on September 11. (Photo: Tuan Anh))

On the morning of September 11 at the Government headquarters, Prime Minister Pham Minh Chinh and President Joe Biden attended the Vietnam-US Summit on Investment and Innovation.

Minister of Planning and Investment Nguyen Chi Dung and US Secretary of State Antony Blinken co-chaired the conference. Representatives of Vietnamese and US ministries, sectors and businesses also attended.

At the Conference, the two Ministers said that during President Biden's visit, the two sides elevated the Vietnam-US relationship to a Comprehensive Strategic Partnership for Peace, Cooperation and Sustainable Development. This is a historic moment and a new opportunity and potential for the governments and businesses of the two countries to promote investment cooperation, especially in the field of innovation; they suggested that businesses take advantage of this opportunity to strengthen cooperation, bringing benefits not only to businesses but also to the people of the two countries.

Ministries and sectors of the two countries will continue to accompany and create favorable conditions for US and Vietnamese businesses to invest and do business successfully, contributing to creating sustainable values and deepening common interests; participating in sustainable supply chains in the region and globally; bringing prosperity and well-being to both countries.

Vietnam's orientation in the coming period is to selectively attract investment towards the development of digital economy, green economy, circular economy, and knowledge economy. Accordingly, priority will be given to projects such as high technology, electronics, semiconductors, innovation, renewable energy, new energy (hydrogen), financial centers, modern trade and services, infrastructure construction, research and development activities, etc. These are also areas where the United States has potential and strengths. Cooperation between the two countries in these areas is complementary and complementary for mutual development.

Increase investment in science and innovation

Speaking at the conference, Prime Minister Pham Minh Chinh said that one of the focuses of President Biden's visit to Vietnam is "promoting the development of Vietnam's economy focusing on technology and innovation".

General Secretary Nguyen Phu Trong emphasized: “Promoting economic-trade-investment cooperation in the direction of innovation is the foundation, focus and driving force of the bilateral relationship; enhancing science and technology cooperation is a new breakthrough of the Comprehensive Strategic Partnership.” Therefore, Prime Minister Pham Minh Chinh and President Joe Biden agreed to make technology, innovation and investment truly become important new pillars of the Vietnam-US Comprehensive Strategic Partnership.

Agreeing with the US President’s view that “Innovation is the key to unlocking our future”, the Prime Minister suggested that businesses of both countries spend time, effort, intelligence, and resources to prioritize investment in science and technology, innovation; especially digital transformation, semiconductor industry, green growth, renewable energy, climate change response, and circular economy.

The Prime Minister said that Vietnam has made efforts to overcome the consequences of war, innovate and develop a market economy and integrate deeply into the world; setting the goal that by 2030 Vietnam will be a developing country with modern industry and high average income, and by 2045 it will become a developed country with high income.

Prime Minister Pham Minh Chinh affirmed that the Vietnam-US Comprehensive Strategic Partnership represents new thinking, new vision, new momentum; creating new strength, new values. (Photo: Tuan Anh))

Therefore, Vietnam has identified science, technology and innovation as one of the main driving forces for national development. With the motto of "taking internal strength as fundamental, strategic, long-term and decisive; external strength as important and breakthrough", Vietnam's consistent policy is to call for investment and open the market to all partners and businesses around the world, especially US businesses.

In order to create more favorable conditions for businesses, Vietnam has been focusing on developing human resources, building preferential policies for the development of digital transformation, renewable energy industry, semiconductor industry, high-tech zones, Innovation Centers and Financial Centers; industries and fields with high added value and competitiveness, participating in the global value chain, to attract international strategic investors, including the United States.

The Prime Minister hopes to continue to receive strong political support from the US Government and President Joe Biden; and commitments in capital, science and technology, and high-quality human resource training from the US business community in supporting Vietnam in transforming its growth model and restructuring the economy towards green, fast, sustainable, and inclusive development.

With the viewpoint that “resources come from thinking and vision; motivation comes from innovation and creativity; strength comes from people and businesses”, the Prime Minister said that the Vietnam-US Comprehensive Strategic Partnership represents new thinking, new vision, new motivation; creates new strength, new values; proposes to cooperate, share, learn, and help each other in the spirit of “harmonized interests, shared risks”, “your success is our success”.

The United States is ready to help Vietnam seize opportunities.

Agreeing with Prime Minister Pham Minh Chinh, US President Joe Biden expressed his respect and appreciation for Vietnam's development achievements in recent times; saying that now is an opportunity for the two countries to promote relations, not only in the fields of investment and innovation but in all fields, to bring about common prosperity.

However, President Joe Biden pointed out that this is just the starting point: The two countries and businesses need to work together to strengthen and enhance cooperation to go further in the future.

In that context, the United States will cooperate and support Vietnam to seize opportunities and potentials; propose that Vietnam in general and Vietnamese enterprises in particular continue to cooperate closely to promote development, including in areas such as science and technology, innovation, semiconductor industry, green transformation, climate change response, human resource training; especially deeper participation in regional and global value chains. President Joe Biden emphasized that cooperation and sharing are not only in favorable times, but also when difficulties and risks may occur.

Overview of the Conference. (Photo: Tuan Anh)

At the Forum, representatives of businesses from both countries had many open, frank and substantive exchanges on investment cooperation opportunities, focusing on four main areas: technology and innovation; manufacturing investment; financial services and fintech; and trade and services. Vietnamese businesses expressed interest in cooperating with the US in the fields of finance, high technology, renewable energy, finance, green transformation, clean fuel production, hydrogen, aerospace technology, information network security, artificial intelligence, etc.

Meanwhile, US businesses are eager and ready to cooperate with Vietnam in semiconductor and chip production, 5G network development, human resource training, incubation, startups, innovation, etc.

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