This morning (November 27), the 7th Vietnam-US Business Summit took place in Hanoi, marking an important step forward in economic relations between the two countries. Prime Minister Pham Minh Chinh attended and delivered a speech.
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| Prime Minister Pham Minh Chinh attends the 7th Vietnam-US Business Summit. (Photo: Le Phuong) |
The conference was jointly organized by the Vietnam Federation of Commerce and Industry (VCCI), the American Chamber of Commerce in Hanoi (AmCham) and the American Chamber of Commerce in Washington.
Speaking at the conference, Prime Minister Pham Minh Chinh affirmed the Vietnamese Government's commitment to promoting a favorable investment and business environment.
The Prime Minister emphasized the viewpoint of cooperation based on the foundation of "harmonious benefits and shared risks", creating conditions for businesses of the two countries to develop together, while aiming for the common goal of bilateral prosperity.
"Businesses of the two countries will be the source of strength to exploit the unlimited potential of Vietnam-US cooperation," the Prime Minister affirmed.
As Vietnam's second largest trading partner and largest export market, the United States has made important contributions to Vietnam's economic development.
Two-way trade turnover is expected to reach a record US$110.8 billion by 2023, demonstrating the strength of the bilateral economic relationship.
At the same time, US businesses continue to play a key role in upgrading supply chains and supporting Vietnam in implementing green economic development, infrastructure and climate change response projects.
In an online speech at the conference, US Secretary of State Antony Blinken emphasized: "Economic cooperation between the two countries is stronger than ever, bringing real benefits to the people of both countries."
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| The 7th Vietnam-US Business Summit is not only an annual event but has become a symbol of the strong cooperative relationship between the two countries. (Photo: Le Phuong) |
Mr. Antony Blinken also mentioned opportunities to expand business partnerships and address challenges to ensure balanced, mutually beneficial trade relations.
For his part, VCCI Chairman Pham Tan Cong affirmed: "The conference is a forum for us to find potential cooperation opportunities, promote bilateral trade and investment, and exploit the potential of the digital economy."
Vietnam, as a key link in the global supply chain, has the potential to become a regional hub for manufacturing and technological innovation. This requires close coordination between Vietnamese and US businesses in leveraging digital technology, improving productivity and minimizing risks in business operations.
"With the increasing demand for energy to serve economic development, Vietnam needs to cooperate with the United States in developing renewable energy projects, reducing dependence on fossil fuels. US businesses have been investing in green energy projects, while supporting Vietnam in building a modern, efficient and sustainable energy system," said Mr. Pham Tan Cong.
AmCham Chairman Joseph Uddo said that the change of administration in the United States and the upgrading of Vietnam-US relations to Comprehensive Strategic Partnership in September 2023 is the ideal time to improve the policy framework.
Adjustments to trade and investment regulations and support for the private sector will facilitate continued growth for businesses on both sides.
"Vietnam-US economic relations have great momentum for development," said AmCham Executive Director Adam Sitkoff at the conference.
He stressed that the business community needs to coordinate with the governments of the two countries to remove barriers and facilitate bilateral trade and investment. Initiatives to support small and medium-sized enterprises, as well as cooperation projects in agriculture, industry and services, are contributing to bringing the trade relationship between the two countries to a new level.
In the first 10 months of 2024, two-way trade turnover between Vietnam and the United States reached 110.6 billion USD, continuing to record a positive recovery after global economic difficulties. This turnover is expected to increase even more thanks to the agreements reached at the Summit.
At the conference, delegates focused on discussing strategic issues such as trade policy, exploiting the potential of the digital economy, ensuring energy security and enhancing the competitiveness of the business sector. This is an important opportunity for businesses and governments of the two countries to work together to remove barriers and build a long-term cooperation mechanism.
After 6 successful events, the conference has become the most anticipated event for the business communities of the two countries. Businesses of the two countries especially acknowledge the strong commitment of the Vietnamese and US governments to support the promotion of bilateral trade and economic development.
The 7th Vietnam-US Business Summit is not only an annual event but has become a symbol of the strong cooperation between the two countries. With strategic discussions and strong commitments from both sides, the event contributes to shaping a promising future of economic cooperation, ensuring long-term benefits for both Vietnam and the United States.
Source: https://baoquocte.vn/hop-tac-kinh-te-viet-nam-hoa-ky-dang-manh-me-hon-bao-gio-het-295265.html
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