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| Prime Minister Pham Minh Chinh, US President Joe Biden, along with Secretary of State Antony Blinken and Minister of Planning and Investment Nguyen Chi Dung at the conference on September 11. (Photo: Tuan Anh) |
On the morning of September 11th, at the Government headquarters, Prime Minister Pham Minh Chinh and President Joe Biden attended the Vietnam-US Summit on Investment and Innovation.
Minister of Planning and Investment Nguyen Chi Dung and US Secretary of State Antony Blinken co-chaired the conference. Representatives from Vietnamese and US ministries, agencies, and businesses also attended.
At the conference, the two ministers stated that during President Biden's visit, the two sides elevated the Vietnam-US relationship to a Comprehensive Strategic Partnership for peace, cooperation, and sustainable development. This is a historic moment and presents new opportunities and potential for the governments and businesses of both countries to promote investment cooperation, especially in the field of innovation; they urged businesses to take advantage of this opportunity to strengthen cooperation, bringing benefits not only to businesses but also to the people of both countries.
Ministries and agencies of both countries will continue to work together, creating favorable conditions for US and Vietnamese businesses to invest and conduct business successfully, contributing to the creation of sustainable values and further deepening common interests; participating in sustainable supply chains in the region and globally; and bringing prosperity and well-being to both nations.
Vietnam's orientation for the coming period is to attract selective investment aimed at developing the digital economy, green economy, circular economy, and knowledge economy. Accordingly, priority will be given to projects in areas such as high technology, electronics, semiconductors, innovation, renewable energy, new energy (hydrogen), financial centers, modern trade and service centers, infrastructure development, and research and development. These are also areas where the United States has potential and strengths. Cooperation between the two countries in these fields is complementary, allowing both sides to develop together.
Increase investment in science and innovation.
Speaking at the conference, Prime Minister Pham Minh Chinh said that one of the main focuses of President Biden's visit to Vietnam is "to promote the development of Vietnam's economy, focusing on technology and innovation."
General Secretary Nguyen Phu Trong emphasized: “Promoting economic, trade, and investment cooperation in the direction of innovation is the foundation, focus, and driving force of the bilateral relationship; strengthening cooperation in science and technology is a new breakthrough in the comprehensive strategic partnership.” Therefore, Prime Minister Pham Minh Chinh and President Joe Biden agreed to make technology, innovation, and investment truly become important new pillars of the Vietnam-US comprehensive strategic partnership.
Agreeing with the US President's view that "Innovation is the key to unlocking our future," the Prime Minister suggested that businesses in both countries dedicate time, effort, intellect, and resources to prioritize investment in science and technology and innovation; especially digital transformation, semiconductor industry, green growth, renewable energy, combating climate change, and the circular economy.
The Prime Minister stated that Vietnam has strived to overcome the consequences of war, innovate and develop a market economy, and integrate deeply into the international community; setting a goal for Vietnam to become a developing country with modern industry and upper-middle income by 2030, and a developed country with high income by 2045.
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| Prime Minister Pham Minh Chinh affirmed that the Vietnam-US Comprehensive Strategic Partnership reflects new thinking, a new vision, and new momentum; creating new strength and new value. (Photo: Tuan Anh) |
Therefore, Vietnam has identified science, technology, and innovation as one of the main driving forces for national development. With the motto "domestic strength is fundamental, strategic, long-term, and decisive; external strength is important and breakthrough," Vietnam's consistent policy is to attract investment and open its markets to all partners and businesses worldwide, especially those from the United States.
To further facilitate businesses, Vietnam has been focusing on developing human resources, building preferential policies to develop the digital transformation industry, renewable energy industry, semiconductor industry, high-tech zones, innovation centers and financial centers; industries and sectors with high added value and competitiveness, participating in global value chains, in order to attract international strategic investors, including the United States.
The Prime Minister hopes to continue receiving strong political support from the US Government and President Joe Biden; and the commitment of capital, science and technology, and high-quality human resource training from the US business community in supporting Vietnam's transformation of its growth model and restructuring of its economy towards green, rapid, sustainable, and inclusive development.
With the perspective that "resources begin with mindset and vision; motivation stems from innovation and creativity; and strength originates from the people and businesses," the Prime Minister stated that the Vietnam-US Comprehensive Strategic Partnership reflects new thinking, a new vision, and new motivation; creating new strength and new values. He proposed cooperation, sharing, learning, and mutual assistance with the spirit of "harmonious interests, shared risks," and "your success is our success."
The United States is ready to support Vietnam in seizing opportunities.
Agreeing with Prime Minister Pham Minh Chinh's remarks, US President Joe Biden expressed his appreciation for Vietnam's development achievements in recent years; he stated that now is an opportunity for the two countries to strengthen their relationship, not only in investment and innovation but in all fields, in order to bring about shared prosperity.
However, President Joe Biden pointed out that this is just the beginning: the two countries and their businesses need to work together to strengthen and enhance cooperation in order to move further into the future.
In this context, the United States will cooperate with and support Vietnam to seize opportunities and potential; it proposes that Vietnam in general, and Vietnamese businesses in particular, continue to cooperate closely to promote development, including in areas such as science and technology, innovation, semiconductor industry, green transition, combating climate change, and human resource training; especially participating more deeply in regional and global value chains. President Joe Biden emphasized that cooperation and sharing should be present not only during favorable times, but also when difficulties and risks may arise.
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| Overview of the conference. (Photo: Tuan Anh) |
At the Forum, representatives from businesses of both countries had many open, frank, and substantive exchanges on investment cooperation opportunities, focusing on four main areas: technology and innovation; manufacturing investment; financial services and fintech; and trade and services. Vietnamese businesses expressed interest in cooperating with the US side in the fields of finance, high technology, renewable energy, green transformation, clean fuel production, hydrogen, aerospace technology, cybersecurity, and artificial intelligence.
Meanwhile, US businesses are eager and willing to cooperate with Vietnam in semiconductor and electronic chip manufacturing, 5G network development, human resource training, incubation, entrepreneurship, and innovation.
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