Many opportunities for Vietnamese - American businesses
At a press conference on the afternoon of March 18 in Hanoi, Mr. Ted Osius, former US Ambassador to Vietnam and President and CEO of the US-ASEAN Business Council (USABC), affirmed that this is the largest US business delegation to Vietnam since the two countries upgraded their relationship to a comprehensive strategic partnership.
Mr. Ted Osius, former US Ambassador to Vietnam, President and CEO of the US-ASEAN Business Council (USABC)
The USABC Chairman added that following this delegation, representatives from a number of US businesses related to the health and life sciences sectors will come to Vietnam to explore investment and business opportunities.
"The delegation has businesses from many different industries, showing a very diverse range of cooperation content. What is very special about this delegation is the coordination between the private sector and the government," Mr. Ted Osius shared.
"There are many opportunities before us within the framework of the Comprehensive Strategic Partnership: digital transformation program, green transformation, promoting zero net emission commitment, promoting Vietnam's role in the global supply chain, promoting Vietnam's manufacturing capacity," Mr. Ted Osius affirmed.
Overview of the meeting
US Ambassador to Vietnam Marc Knapper shared that after 6 months since establishing the Comprehensive Strategic Partnership, the two countries have witnessed new progress in the fields of trade, investment, education, health, science and technology...
"Vietnam's increasingly important role in the region and international geopolitics; the Vietnamese Government's attention to businesses and reforms in investment attraction policies are favorable factors attracting foreign investors, including American businesses," Ambassador Knapper affirmed.
Ms. Sarah Morgenthau, Special Representative for Trade and Business, US Department of State, affirmed that the visit of a large business delegation to explore the Vietnamese market this time shows the great interest of US businesses in Vietnam and vice versa.
Ms. Sarah Morgenthau, Special Representative for Trade and Business, US Department of State
"American businesses are increasingly interested in the Vietnamese market and vice versa. An example is the Vietnamese electric car company Vinfast, which is present in the US market; creating thousands of jobs for Americans. We hope to see a wave of investment from the US to Vietnam and vice versa," Ms. Morgenthau emphasized.
Ms. Reta Jo Lewis, President of the US Export-Import Bank (US Eximbank), said that on March 18, the Vietnam Development Bank (VDB) and US Eximbank signed a MOU worth 500 million USD to jointly research and explore cooperation opportunities for medium- and long-term credit and guarantees, promoting economic, trade and investment cooperation between the two countries.
Vietnam could become the new AI "dragon"
Speaking to the press on the sidelines of the meeting, Mr. Rafael Frankel, Director of Public Policy for Southeast Asia at Meta, said that Vietnam has been doing very well in many fields, and now let's apply those lessons to AI.
Mr. Rafael Frankel, Director of Public Policy for Southeast Asia at Meta
"We have implemented many training programs to help both Vietnamese entrepreneurs and engineers, both in technology. The governments of both countries also support these, while Vietnam has maintained an open environment for technology and digital economic investment. This is also very important, creating conditions for Vietnamese businesses to be successful," Mr. Frankel affirmed.
Looking at all that experience, Mr. Frankel believes that as we enter the AI era, this development will only become faster. “Keep doing what you are doing, and work with us,” Mr. Frankel said.
By 2024, Meta will launch its AI products across multiple countries in Asia-Pacific, and Vietnam will be one of them. That will enable a generation of Vietnamese tech entrepreneurs to participate in building these products, to make them widely available to the public.
Some products like large language models will be innovation platforms where Vietnamese researchers and entrepreneurs can sign up to use. Those activities will push things forward.
"I hope Vietnamese technology entrepreneurs continue to cooperate with us and together we will build a great future in Vietnam, as I said, can become the AI dragon of the region," Mr. Frankel affirmed.
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