Prime Minister Pham Minh Chinh hosted a reception on March 21 in Hanoi for a high-level delegation of the US-ASEAN Business Council (USABC) led by Ted Osius, president and CEO of USABC and former United States Ambassador to Vietnam.

At the meeting, PM Chinh said that following the upgrading of the joint relationship to a comprehensive strategic partnership, the Vietnamese PM had paid a working visit to the US to concretise this co-operation framework. Notably, linkages and business activities between the two sides are being promoted, including the role and contributions of the USABC.

As part of this occasion, the Vietnamese Government leader thanked the US, including US businesses, for accompanying and supporting the Vietnamese side in COVID-19 prevention, recovery, and socio-economic development.

Both sides are exemplary models in healing and overcoming post-war consequences, for the benefit of the two countries and for ties of peace, co-operation, and development in the region and the world, US President Joe Biden once affirmed.

“US businesses have contributed to the process of healing post-war wounds and promoting economic, trade, and investment cooperation in particular and relations between the two countries in general, thereby also contributing to helping Vietnam build a socialist-oriented market economy," the PM said.

According to PM Chinh, within the framework of the comprehensive strategic partnership, economic ties, trade, investment, science and technology, and innovation are all important pillars to push relationship between the two countries to develop more comprehensively, inclusively and effectively, as Party General Secretary Nguyen Phu Trong and US President Biden wish.

Regarding the Vietnamese goal of becoming a developing country with modern industry and high average income by 2030, and by 2045 becoming a developed country with high income, the cabinet leader expressed his wish that US businesses in particular will support the nation in achieving these goals.

Osius and US business representatives hailed Vietnamese socio-economic development achievements, especially in recent years, expressing great appreciation for the investment environment and expressed gratitude for the Government’s support and companionship with businesses, including foreign direct investment enterprises and US enterprises in particular.

They were also 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, and tourism.

US businesses proposed that the nation continue to revise the legal framework; reform administrative procedures, especially in issues related to investment licensing, work permits and visas; and have incentive mechanisms, especially tax incentives in some priority areas.

This is in addition to spurring the development of the circular economy, green economy, green transportation, carbon emission reduction, energy conversion, alongside developing infrastructure and logistics for US businesses to invest, produce, and conduct business more effectively in Vietnam.

Speaking at the conclusion of the meeting, PM Chinh highly appreciated the various opinions of USABC business leaders while requesting ministries and agencies continue to research, respond, and offer favourable conditions for businesses.

He said that there were three things that came out of the working session, "sharing, understanding, trusting each other more", "committing to closer and more effective cooperation", and "having more responsibility for each other".

To co-ordinate in realising the Action Plan to implement the Vietnam-US Comprehensive Strategic Partnership in a practical, effective, equal, and a mutually beneficial manner, PM Chinh proposed that USABC businesses have a strong voice with the US Government to prioritise promoting the early recognition of Vietnamese market economy regulations, as well as soon removing the nation from the US list of countries with restrictions on high-tech exports.

In the spirit of "harmonious benefits, shared risks", the PM suggested that US businesses continue to expand the scale, scope, and objects of investment in Vietnam, transfer technology to Vietnam, especially high technology in order to serve emerging industries such as the digital economy, circular economy, climate change adaptation, green transformation, sharing economy, and knowledge-based economy.

He also asked for help as Vietnam seeks to fine-tune its institutions and boost its capacity for smart, modern, and advanced governance, whilst training high-quality human resources to serve development in the new era.

The Government chief said he believes that moving forward, the framework of the comprehensive strategic partnership between both sides will be concretised with specific co-operation programmes, plans, projects, and products, beneficial to both sides, thus contributing to promoting and cultivating the good relationship between the two nations moving forward.

VOV