Vietnamese leaders always support stronger trade and economic ties with the US and are willing to create a transparent and favourable business climate for foreign firms, including those from the US, said a top lawmaker.

National Assembly Vice Chairman Phung Quoc Hien (R) and President of Ford ASEAN Mark Kaufman

While receiving President of Ford ASEAN Mark Kaufman in Hanoi on July 31, National Assembly Vice Chairman Phung Quoc Hien congratulated Ford Motor Company and Ford Vietnam on their recent achievements, adding that Ford products have become more popular in the Vietnamese market.

Hien believed that these successes would create a momentum for cooperation prospects between Vietnam and the US, particularly in economic and trade partnership.

For his part, Kaufman spoke highly of Vietnamese leaders’ attentions and assistance to businesses through preferential policies with a view to developing a sustainable automobile industry.

Kaufman said the local automobile industry will undergo a drastic change in 2018, when Vietnam opens its market as committed to the ASEAN Free Trade Area.

The opening of the market will generate higher competition pressures for auto makers, including Ford, he added.

Kaufman asked Vietnamese authorities to consider special consumption taxes on pickup trucks as well as tariffs on auto components imported from outside the ASEAN region so as to ensure the healthy development of the automobile market.

VNA