14 Vietnamese and American enterprises discussed investment opportunities in four main areas: technology and innovation; manufacturing investment, financial services, fintech and trade services.
On the morning of September 11, Prime Minister Pham Minh Chinh and President Joe Biden attended the Vietnam-US Summit on Investment and Innovation, during Mr. Biden's state visit to Vietnam.
Prime Minister Pham Minh Chinh and US President Joe Biden attend the Vietnam-US Summit on Investment and Innovation on the morning of September 11. Photo: Giang Huy
According to VNA , Prime Minister Pham Minh Chinh said that one of the focuses of President Biden's visit to Vietnam is to promote Vietnam's economic development in the fields of technology and innovation. These two fields, along with investment, will be important new pillars of the Vietnam-US Comprehensive Strategic Partnership.
Therefore, Vietnam calls for investment and opens its market to all partners, especially American businesses. He hopes that businesses from both countries will prioritize resources for investment in science and technology, innovation, especially digital transformation, semiconductor industry, green growth, renewable energy, climate change response and circular economy.
US President Joe Biden agreed that now is an opportunity for the two countries to promote relations in all areas, including investment and innovation to "bring shared prosperity". He said that the US will cooperate and support Vietnam in the fields of chip technology, semiconductors, innovation, green transformation, human resource training; especially to participate more deeply in regional and global value chains.
"This is the starting point, Vietnam and the US need to strengthen and increase cooperation to go further in the future. Cooperation and sharing between the two countries is not only when development is favorable, but also when difficulties and risks may occur," President Biden shared.
To realize cooperation opportunities between Vietnamese and American businesses, Minister of Planning and Investment Nguyen Chi Dung said that Vietnam has identified high technology, electronics, semiconductors, financial centers, innovation, renewable energy, and new energy (hydrogen) as areas that create opportunities for domestic businesses to participate more deeply in the global value chain. This is also an opportunity for American businesses, which have many strengths, to invest in Vietnam.
At the same time, Vietnam is developing human resources and introducing preferential policies for the development of digital transformation, renewable energy, semiconductor industry, innovation centers and financial centers. These are also high-value-added and competitive fields to participate in the global value chain and attract strategic investors, including the US.
Minister Nguyen Chi Dung proposed that US businesses continue to increase investment and expansion in Vietnam, supporting domestic businesses to participate deeply in the value chain. For example, semiconductor corporations such as Intel, Amkor, Marvell, Global Foundries, and the American Semiconductor Association develop chip and semiconductor ecosystems; jointly build training and research and development centers, and move towards designing chip and semiconductor products in Vietnam. Or Boeing develops a component manufacturing ecosystem, a regional-scale aircraft equipment and machinery maintenance center in Vietnam.
On the contrary, Vietnamese enterprises need to increase investment in the US, at the same time, improve capacity and capital to upgrade and be able to participate in the global value chain. He pledged that the Ministry of Planning and Investment will accompany and create conditions for US and Vietnamese enterprises to invest successfully.
President Biden is on a state visit to Vietnam on September 10-11. General Secretary Nguyen Phu Trong held talks with President Biden on the afternoon of September 10 after an official welcoming ceremony, announcing the establishment of a Comprehensive Strategic Partnership between Vietnam and the United States for peace, cooperation and sustainable development. Vietnam-US relations were normalized in July 1995 and upgraded to a Comprehensive Partnership in July 2013.
The White House announced on September 10 that it will strengthen cooperation with Vietnam in the fields of investment in the innovative economy, science and technology, education and training, trade, investment and economy, climate, energy, environment, health, security, overcoming the consequences of war and promoting relations between businesses of the two countries.
Vietnam-US trade reached nearly $124 billion last year, a 275-fold increase in 27 years. The US is Vietnam’s largest export market and second-largest trading partner. In turn, Vietnam is the US’s seventh-largest trading partner in the world and the largest in ASEAN.
Vnexpress.net
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