USABC President optimistic about US-Vietnam cooperation potential
The potential of cooperation between Vietnamese and US businesses this year has been increasingly enhanced, especially since the two countries upgraded bilateral relations to a Comprehensive strategic partnership for peace, cooperation and sustainable last September, said President of the US-ASEAN Business Council (USABC) Ted Osius.
President of the US-ASEAN Business Council (USABC) Ted Osius. (Photo: VNA)
Washington D.C (VNA) – The potentialof cooperation between Vietnamese and US businesses this year has been increasinglyenhanced, especially since the two countries upgraded bilateral relations to a Comprehensivestrategic partnership for peace, cooperation and sustainable last September, said President of the US-ASEAN BusinessCouncil (USABC) Ted Osius.
Talking to the Vietnam News Agency (VNA)'s resident correspondents in Washington on February 22, he said that opportunitiesfor US businesses in the Southeast Asian country are considerable although headwinds in the global economy have been posing multiple challenges.
Osius,who is also former US Ambassador to Vietnam, said the two countries have made anumber of commitments to promoting economic ties since their relations werelifted to the Comprehensive strategic partnershipfor peace, cooperation, and sustainable development during US President Joe Biden’svisit to Vietnam in September 2023.
He perceived that US businessesare interested in and will invest in three areas in Vietnam, namely technology,energy, and health care.
In terms of technology, the US pledged to assist Vietnam in developing the semiconductor industry, which requires reliableenergy sources, ready water sources, and skilled manpower.
Given this, he said, the US Government is helping Vietnam to developthe workforce. The US Agency for International Development (USAID) is investing100 million USD in workforce development and recently announced an additionalcommitment to improving human resource capacity via the Arizona State University.US businesses are also highly interested in the unceasing development of the Vietnameseworkforce.
The two sides also hold substantial cooperation opportunitiesin the field of health care, which has seen surprising partnerships in thefights against SARS, HIV/AIDS, and COVID-19, the USABC leader said, adding thatUS companies want to produce pharmaceutical and medical equipment in Vietnamand make healthcare investments.
Osiusvoiced his belief in such big potential and that some of the potential willbe realised in the near future./.
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President of the US-ASEAN Business Council (USABC) Ted Osius. (Photo: VNA) 
