Prime Minister calls on US businesses to support mutually beneficial trade agreements

(Chinhphu.vn) - On the morning of May 13, Prime Minister Pham Minh Chinh worked with representatives of the US business community investing and doing business in Vietnam to listen to, resolve difficulties, and propose solutions to promote investment and business cooperation between Vietnam and the US.

Prime Minister Pham Minh Chinh works with representatives of the US business community investing and doing business in Vietnam - Photo: VGP/Nhat Bac

Attending the meeting were Deputy Prime Ministers Ho Duc Phoc and Nguyen Chi Dung; representatives of Vietnamese ministries, branches and localities; representatives of the US Embassy in Vietnam; the US Chamber of Commerce in Hanoi and representatives of 50 large US enterprises investing and doing business in Vietnam.

This is the second meeting and working session between Prime Minister Pham Minh Chinh and US businesses in just 2 months; demonstrating his respect for businesses, his willingness to have open and frank exchanges, and to listen to constructive opinions from US partners to jointly resolve difficulties and create the most favorable conditions for the US business community to continue investing, expanding and achieving success in Vietnam.

US businesses appreciate Vietnam's goodwill

After 30 years of establishing diplomatic relations, 10 years of establishing comprehensive partnership and 2 years of upgrading relations to comprehensive strategic partnership, Vietnam - US relations have been developing positively in all fields. In particular, economy - trade - investment are important pillars promoting the overall bilateral relationship.

Bilateral trade turnover in 2024 will reach 134.6 billion USD. By the end of 2024, US direct investment in Vietnam is estimated to reach 11.94 billion USD with over 1,400 projects. Most major US corporations are present and have effectively invested in Vietnam, while many Vietnamese enterprises have also invested in the US market. Vietnam has 252 investment projects in the US, with a total investment capital of more than 1.36 billion USD, ranking 6th out of 83 overseas investment locations. Vietnam is the 8th largest trading partner and the 4th largest export market of the United States in the ASEAN region.

The meeting aimed to listen to, resolve difficulties, and propose solutions to promote investment and business cooperation between Vietnam and the United States - Photo: VGP/Nhat Bac

At the meeting, representatives of the US Embassy in Vietnam, the US Chamber of Commerce in Hanoi, representatives of large US enterprises such as Boeing, Molex, Excelerate Energy, Abbott, Coca-Cola, GE Vernova... highly appreciated the goodwill of the Vietnamese Government in regularly holding meetings, working, listening, and removing bottlenecks to promote trade and investment cooperation between Vietnam and the US. Thanks to that, economic - trade - investment cooperation has become a "cornerstone" in the relationship between the two countries; Vietnam has become one of the major partners of the US.

US businesses highly appreciate Vietnam's investment and business environment, especially in recent times when the Government has continued to take measures to promote a more open environment, with the goal of eliminating at least 30% of unnecessary investment and business conditions, reducing at least 30% of administrative procedure processing time, reducing at least 30% of administrative procedure costs; promptly resolving difficulties and obstacles, creating maximum convenience for enterprises in production and business activities.

Recently, Vietnam has been very proactive and active in promoting balanced and sustainable investment and trade cooperation with the United States, including increasing the import of goods that the United States has strengths in and Vietnam has demand for; reducing import tariffs on goods from the United States; resolving difficulties for US projects in Vietnam...

Prime Minister and Deputy Prime Ministers Ho Duc Phoc and Nguyen Chi Dung attended the meeting - Photo: VGP/Nhat Bac

The US representative suggested that Vietnam continue to improve the investment and business environment; resolve some difficulties, create maximum convenience for enterprises in production and business activities, especially in resolving administrative procedures, non-tariff barriers, issues related to taxes, fees, and charges; ensure infrastructure conditions such as electricity infrastructure, information technology infrastructure, logistics; strengthen management and supervision of enterprises to ensure transparency and origin of goods; Vietnamese partners urgently implement the agreement (MOU) signed by the two sides; resolve some issues in specific projects... US enterprises expressed their sympathy with the difficulties and committed to sustainable and long-term investment cooperation, accompanying Vietnam.

Vietnam's concrete actions to promote balanced, sustainable trade with the United States

Together with leaders of ministries, branches and localities, discussing, answering and directing the reception and immediate and thorough resolution of legitimate feedback, recommendations and proposals from US businesses in the spirit of "clear people, clear work, clear time, clear results, clear responsibilities and clear authority", Prime Minister Pham Minh Chinh affirmed that Vietnam has been very proactive and positive in promoting balanced and sustainable economic and trade cooperation with the US.

The Prime Minister hopes that the US will continue to share with Vietnam - a country that has suffered many losses, pains, and heavy damages after a long period of war, and that bombs and mines left over from the war still explode every day, causing casualties to the people; a country that has gone through a long period of embargo and is currently a developing country with a transitional economy, a modest economic scale, and limited resilience to external shocks.

President of the American Chamber of Commerce in Hanoi speaks - Photo: VGP/Nhat Bac

Sharing the outstanding results in trade and investment relations between the two countries in recent times, in which many large US enterprises have built a strong development ecosystem in Vietnam, Prime Minister Pham Minh Chinh affirmed that the Vietnamese Government is always ready to dialogue with partners and enterprises, including US partners and enterprises, in the spirit of efficiency, frankness, constructiveness, equality, mutual respect, bringing results and benefits to both sides.

Reviewing Vietnam's specific actions in promoting balanced and sustainable trade development with the United States, the Prime Minister emphasized that Vietnam has proactively addressed the concerns of the United States and US businesses; resolutely fought against trade fraud, smuggling, counterfeit goods, and fake goods; actively reformed administrative procedures, abolished unnecessary investment and business conditions, reduced the time to handle administrative procedures, and reduced administrative procedure costs for people and businesses.

Along with Vietnam's efforts in the spirit of "saying is doing, committing is implementing", the Prime Minister suggested that the business community and the US Embassy have a positive voice with the Trump administration about Vietnam's efforts and goodwill, so that the US side can have the best possible solution in promoting balanced and sustainable trade cooperation with Vietnam, in the spirit of mutual benefit, "harmonious benefits, shared risks"; the two sides soon reach an agreement on tariffs that are beneficial both in the short and long term for both sides, for the benefit of the people, businesses of the two countries, the two countries, the two nations; along with that, support businesses of both sides to continue to develop, because both sides have experience in overcoming previous difficulties and challenges.

Sharing the main features of the situation in Vietnam, Prime Minister Pham Minh Chinh expressed his gratitude to the United States for supporting Vietnam to be "strong, independent, self-reliant and prosperous". Vietnam consistently holds the viewpoint of putting the past behind, taking advantage of common points, limiting differences, looking towards the future, and fulfilling commitments in promoting the development of the comprehensive strategic partnership between Vietnam and the United States in a practical and effective manner in all fields, including trade, contributing to affirming a peace-loving Vietnam, ready to dialogue and resolve problems with partners through listening, exchanging and negotiating.

The Prime Minister emphasized that Vietnam has proactively addressed the concerns of the US and US businesses - Photo: VGP/Nhat Bac

Hope the US-China trade negotiations make progress, benefiting both sides and other countries

Sharing Vietnam's perspective on the trade negotiations between the United States and China, the Prime Minister said that the current world situation has many fluctuations, requiring each country to have adaptive solutions.

Vietnam does not interfere in the internal affairs of other countries and wishes all countries to develop smoothly, for stability, peace, cooperation and development in the region and the world; especially wishes that there will be no trade war, especially between major economies such as the United States and China; wishes that countries promote cooperative relations based on the law, implement international commitments, the United Nations Charter, and not affect other countries; wishes that the US-China trade negotiations make progress with agreements that are beneficial to both sides and to countries around the world.

The Prime Minister said that in the face of difficulties related to global trade tensions, Vietnam has determined that the situation will always have difficulties and challenges, and that it should not panic, be afraid, or be subjective or negligent, but maintain its composure and calmly handle issues related to Vietnam.

Vietnam is building an independent, self-reliant economy associated with proactive, active international integration, deep, substantial and effective, relying on internal resources as fundamental, strategic, long-term, decisive, and external resources as important and breakthrough.

Promoting the spirit of self-reliance and self-improvement, Vietnam considers this an opportunity to restructure the economy for rapid and sustainable development, restructure trade in a balanced and sustainable direction with all partners on the principle of mutual benefit, without affecting third countries; promote market diversification, product diversification, and supply chain diversification.

The Prime Minister affirmed that the Vietnamese Government is always ready to dialogue with partners and businesses, including US partners and businesses, in the spirit of efficiency, frankness, constructiveness, equality, mutual respect, bringing results and benefits to both sides - Photo: VGP/Nhat Bac

Vietnam is implementing the "strategic quartet" on breakthroughs in science and technology development, innovation, national digital transformation, international integration in the new situation, law building and enforcement, and private economic development. Vietnam is developing a project to build an international financial center; implementing three strategic breakthroughs, especially breakthroughs in transport infrastructure and energy infrastructure, with open institutions, smooth infrastructure, and smart human resources.

Taking people and businesses as the center, subject, resource and driving force of development, Vietnam is building a two-level local government apparatus, transforming the government apparatus from a passive state to one that actively serves people and businesses, establishing public administrative centers, promoting digital transformation, carrying out procedures online and regardless of administrative boundaries, thereby better serving people and businesses.

Minister of Industry and Trade Nguyen Hong Dien speaks at the meeting - Photo: VGP/Nhat Bac

Prime Minister Pham Minh Chinh affirmed the viewpoint: "The Government plays a creative role; people and businesses are the center; institutions are the driving force; infrastructure is the foundation" to "listen and understand together; share vision and action together; work together, enjoy together, win together and develop together". The Vietnamese Government creates all favorable conditions and protects the legitimate and legal rights and interests of businesses, including US businesses, so that businesses can cooperate, invest and do business effectively and sustainably in Vietnam.

Informing that Vietnam has implemented and continued to reform visa policies for foreign citizens entering Vietnam, including US citizens, the Prime Minister hopes that the US Government will consider and have a favorable visa policy for Vietnamese citizens./.

Ha Van

Source: https://baochinhphu.vn/thu-tuong-de-nghi-doanh-nghiep-hoa-ky-ung-ho-thoa-thuan-thuong-mai-cung-co-loi-102250513152636343.htm