Prime Minister Pham Minh Chinh (centre) hosts the high-ranking delegation from the US-ASEAN Business Council. (Photo: VNA) Hanoi (VNA) –ꦡ Prime Minister Pham Minh Chinh hosted a receptionin Hanoi on March 21 for a high-ranking delegation from the US-ASEAN BusinessCouncil (USABC) led by the council's President and CEO Ted Osius, during which he stressed the instrumental role played by the USABC in the growing Vietnam-USeconomic ties.
PM Chinh described the Vietnam-US relationship as a model for post-war reconciliation, for the benefitof both countries and for peace, cooperation and development in the region andthe world, as affirmed by US President Joe Biden.
He highlighted the importance of economic, trade, investment,science-technology, and innovation ties within the framework of thecomprehensive strategic partnership established last year, saying that they are critical pillars toachieve the comprehensive, inclusive and more effective development ofbilateral relations, as wished by both Party General Secretary Nguyen Phu Trongand President Biden.
Vietnam ensures the legitimate rights andinterests of enterprises, he said,adding that the country commits to maintaining political stability, socialsafety and order, sovereignty and territorial integrity, along with stablepolicies, energy security and the ecology for green transition and digital transformation to create a pro-business environment for businesses' stable and sustainable growth.
Looking toward Vietnam's goal of becoming a developed nationwith a modern industry and upper middle income by 2030, Chinh expressed his hope for the continuedUS support, particularly from US companies. He emphasised the need for jointefforts to address global challenges like climate change, population aging,pandemics and natural resource depletion.
Osius, for his part, thanked the VietnameseGovernment for its support of foreign investors, including those from the US.He expressed their commitment to further investing in Vietnam in the fields of sci-tech,electronics, aviation, electric automobiles, logistics, energy, healthcare, finance,e-commerce, food and tourism.
The US firms proposed that Vietnam continue improvingits legal framework, reforming administrative procedures, especially investmentlicensing, labour permits and visas. They also urged Vietnam to continue to provide tax incentives in prioritysectors, promote circular and green economy, green transportation,carbon emissions reduction and energy transition, and developinfrastructure and logistics to enable their more effective operations in the country.
To effectively carry out the action plan forbilateral comprehensive strategic partnership, PM Chinh urged USABC to advocatefor the early recognition of Vietnam's market economy status and its removalfrom US restrictions on hi-tech exports.
ꦑ Underscoring the principle of "harmonious interests, sharedrisks”, he called on the US businesses to expand their presence in Vietnam andactively transfer technology, especially hi-tech solutions related to thedigital economy, climate change response, green transition, and knowledge-basedeconomies while renewing traditional driving forces such as consumption, export andinvestment.
