Vietnamese, American businesses discuss trusted partnership

(VOVWORLD) - The US-Vietnam Business Summit, “Trusted Partners Prospering Together,” took place in Hanoi on Friday as the two countries are celebrating 25 years of diplomatic relations.
Vietnamese, American businesses discuss trusted partnership  - ảnh 1

Vu Tien Loc, Chairman of the Vietnam Chamber of Commerce and Industry, speaks at the US-Vietnam Business Summit (Photo: Mai Lien/VOV5)

Tran Duy Dong, Deputy Minister of Planning and Investment, said despite complicated political and economic developments around the world, especially the COVID-19 epidemic causing the global FDI source to drop 40% this year, Vietnam’s FDI reached a total registered capital of 21 billion USD, contributing 2.12% to  the national growth over the last 9 months.

“Vietnam is a reliable partner of the US government and investors. Through this meeting, we want to strengthen investor connections, encourage major US corporations to further expand and make new investments in Vietnam,” said Dong.

He added, “We’ll also increase cooperation and create more opportunities for Vietnamese businesses to participate in global supply chains. To receive high-quality investment flows and attract major global corporations, including those from the US. Vietnam has established a working team to boost cooperation and is preparing the best conditions for investment activities in Vietnam.”

Myron Brilliant, Executive Vice President and Head of International Affairs at the US Chamber of Commerce, said AMCHAM and the Vietnam Chamber of Commerce and Industry (VCCI) will continue to develop a cooperation framework on trade in a more practical and efficient direction.

He added, "Our proposal today calls for a series of agreements under a deeper approach including a digital economy, energy, IP, trade, agriculture, and other areas. These important function areas will allow us to upgrade the relationship in a practical way and lay a foundation for deeper economic cooperation. Our relationship is vital and valuable in many fronts. It’s vibrant and dynamic and endorsed by strong support of the two governments.”

Vietnamese, American businesses discuss trusted partnership  - ảnh 2Virginia Foote, Chairwoman of AMCHAM Hanoi (Photo: Mai Lien/VOV5) 

Key points of the business summit were promoting sustainable and predictable investment policies, driving growth and innovation through the Digital Economy, addressing Vietnam’s energy development needs, navigating Asia’s supply chain and manufacturing landscape post-COVID, working together to help Vietnamese businesses and entrepreneurs reach their potential, global trade dynamics and the US presidential election, and new opportunities to fuel Vietnam’s economic recovery.                                        

The event was held by the Vietnam Chamber of Commerce and Industry (VCCI) and the US Chamber of Commerce in Hanoi (Amcham Hanoi), attracting a number of current and former officials from both countries.