Prime Minister receives business delegation of US-ASEAN Business Council

On March 21, at the Government Office, Prime Minister Pham Minh Chinh received a delegation of businesses from the US-ASEAN Business Council (USABC) led by President and CEO of USABC Ted Osius, former US Ambassador to Vietnam.

Thủ tướng Chính phủ tiếp đoàn doanh nghiệp Hội đồng Kinh doanh Hoa Kỳ-ASEAN

Prime Minister Pham Minh Chinh said that right after Vietnam and the United States upgraded their relationship to a Comprehensive Strategic Partnership, cooperation and business activities between the two sides were promoted, including the role and contributions of USABC.

According to the Prime Minister, economic, trade, investment, science and technology, innovation cooperation, etc. are important pillars to promote bilateral relations within a new framework of more comprehensive, inclusive and effective development as desired by General Secretary Nguyen Phu Trong and US President Joe Biden.

To support and accompany US enterprises to invest, produce and do business in Vietnam, contributing to concretizing the Comprehensive Strategic Partnership between the two countries, the Vietnamese Government commits to "3 guarantees" and "3 together".

The three "guarantees" include: (i) Ensuring that the foreign-invested economic sector is always an important component of the Vietnamese economy, respecting, encouraging, and being ready to create favorable conditions for this sector to develop long-term, cooperate, and compete healthily and equally with other economic sectors; (ii) Ensuring the legitimate and legal rights and interests of investors in the spirit of "harmonious interests and shared risks"; (iii) Ensuring the maintenance of independence, sovereignty, territorial integrity; political stability, social order and security, and policy stability so that investors can feel secure in doing business and operating long-term in Vietnam.

The three "togethers" include: (i) Listening and understanding with businesses and people; (ii) Sharing visions and actions to develop the economy, contributing to developing the relationship between the two countries to a new height; (iii) Working together, enjoying together, winning together and developing together.

Speaking at the meeting, USABC President and CEO Ted Osius and representatives of US businesses congratulated Vietnam's socio-economic development achievements; highly appreciated the increasingly improved investment environment and expressed gratitude for the Government's support and companionship for businesses, including foreign direct investment enterprises and US businesses in particular; strongly committed to continuing to invest in Vietnam in the fields of science and technology, electronics, aviation, electric cars, logistics, energy, healthcare, finance, e-commerce, food, tourism, etc.; assessed that Vietnam is increasingly affirming its role as an important production center, a very important element in the global supply chain and businesses are excited to explore new cooperation opportunities.

Businesses also announced new investment projects, such as Pepsi will invest in two new modern factories using renewable energy, including a food factory in Ha Nam (worth 90 million USD) and a beverage factory in Long An (over 300 million USD).

Business representatives also proposed that Vietnam continue to improve the legal framework; reform administrative procedures, especially in matters related to investment licensing, work permits and visas; have incentive mechanisms, especially tax incentives in a number of priority areas; promote the development of circular economy, green economy, green transport development, carbon emission reduction, energy conversion; develop infrastructure, logistics... so that US businesses can invest, produce and do business more effectively in Vietnam.

After listening to the Ministers, leaders of ministries and agencies exchanging and responding to the opinions of USABC member enterprises, concluding the working session, Prime Minister Pham Minh Chinh appreciated the opinions of USABC enterprise leaders; requested ministries and branches to continue to study, absorb and respond, creating favorable conditions for enterprises.

To coordinate the implementation of the Action Plan to realize the Vietnam-US Comprehensive Strategic Partnership in a substantive, effective, equal and mutually beneficial manner, the Prime Minister requested that USABC enterprises have a strong voice with the US Government to prioritize the early recognition of Vietnam's market economy status; and early removal of Vietnam from the US list of countries with restricted high-tech exports.

In the spirit of "harmonized benefits and shared risks", the Prime Minister suggested that US businesses continue to expand the scale, scope and investment subjects in Vietnam; transfer technology to Vietnam, especially high technology to serve emerging industries, such as digital economy, circular economy, climate change response, green transformation, sharing economy, knowledge economy and renew traditional driving forces such as consumption, export, investment; contribute ideas and support Vietnam in perfecting institutions and enhancing smart, modern and advanced governance capacity; support Vietnam in training high-quality human resources to serve development in the new period.

The Prime Minister believes that the framework of the Vietnam-US Comprehensive Strategic Partnership will continue to be materialized in the coming time through specific cooperation programs, plans and projects, with specific products and concrete results that are beneficial to both sides, contributing to promoting and nurturing the good Vietnam-US relationship that is on the rise.

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