Today: 01/10/2023 23:34:12 (GMT+7)

Minister hopes US becomes biggest investor in Vietnam

Minister of Planning and Investment Nguyen Chi Dung has voiced his hope that US enterprises will become the biggest investor in Vietnam to seize every cooperation opportunity in the countries’ development process on the basis of equality, mutual respect, and mutual benefits.

He made the remark at a meeting with a business delegation of the US - ASEAN Business Council (USABC) in Hanoi on March 21.

Minister of Planning and Investment, US, becomes biggest investor, Vietnam, cooperation opportunity, development process, basis of equality, mutual respect, mutual benefits

USABC President and CEO Ted Osius (second from right) speaks at the meeting on March 21.

Highlighting the two countries’ comprehensive and fruitful relations, Minister Dung said the US is currently the second largest trading partner and one of the leading export markets of Vietnam. It is also an important ODA provider and the 11th biggest among the 142 countries and territories investing in the Southeast Asian nation.

Vietnam highly values the fruitful investment and business activities of US investors and hopes they will maintain their trust and expand investment, trade, and development cooperation in the country, he noted.

The official was of the view that there is huge cooperation potential in the fields of green growth, digital economy, science - technology development, and innovation, adding that Vietnam encourages and prioritises quality and focus-driven foreign direct investment.

The country is also implementing policies to help businesses step up investment in science - technology and improve their production capacity to engage in global supply chains, particularly in the spheres of high technology, innovation, green energy, renewable energy, finance - banking, health care, human resource training, infrastructure, and environment, according to Dung.

The minister affirmed that the Vietnamese and US economies are complementary to each other and still hold much potential for cooperation and development in the future.

USABC President and CEO Ted Osius, who is a former US Ambassador to Vietnam, said US firms strongly believe in Vietnam’s growth prospects and always want to seek business and investment cooperation chances in the country.

Many business delegations of the USABC have come to Vietnam in the past, but this time, there are up to 50 firms, including major ones like Boeing, Coca-Cola, CitiBank, Meta, SpaceX, Netflix, Abbott, and AES, operating in various sectors, which once again demonstrates US enterprises and investors’ interest in Vietnam, he went on.

At the meeting, representatives of US enterprises expressed the intention of setting up or expanding investment and business activities in Vietnam.

Minister Dung said Vietnam always hopes to attract investment from the US, and that US businesses’ contributions to bilateral investment and trade ties are considerable, via not only economic partnerships but also policy opinions and proposals about investment climate improvement and policy and law perfection submitted to the Vietnamese Government.

The US currently has 1,223 valid projects worth over 11.4 billion USD in Vietnam, ranking 11th among the 142 countries and territories investing here. Meanwhile, it ranks 10th among the 80 countries where Vietnamese firms are investing in.

Bilateral trade hit a record of over 123 billion USD in 2022, up 11% year on year, turning the US into the second biggest trading partner of Vietnam, and Vietnam the eighth largest one of the North American nation.

Bac Giang pays high attention to supporting and removing obstacles for investors
(BGO)- The provincial Industrial Zones Authority (IZA) of Bac Giang province on January 5 organised an end-of-year meeting to review the results in 2022 and deploy the tasks in 2023.
The impression of Korean investors
(BGO) – The economic growthrate in Bac Giang province has hit nearly 24 percent for the first nine months of 2022, top leading localities nationwide with industrial production up over 34.7 percent. The great result is significantly contributed by businesses and investors from the Republic of Korea (RoK). 
Bac Giang rolls out red carpet to welcome investors
(BGO) – Many people in Bac Giang province still remember the October 11, 2003 event that kicked off the construction of Dinh Tram Industrial Park (IP) – the first "red address" to attract investment in local industrial development. However, in order to complete the infrastructure construction and fill this park and the next ones, the province has faced an array of difficulties.
Vietnam in global semiconductor spotlight as big-name investors show interest
Global semiconductor makers are betting on Vietnam as their next production destination with the country being considered ready for a move up in the value chain.
Japanese investors’ confidence in Vietnam increasing: JETRO Vice President
Japanese investors’ confidence in Vietnam has still been increasing despite adverse impacts of the Covid-19 pandemic, Shigetoshi Aoyama, Executive Vice President of the Japan External Trade Organisation (JETRO), has said.

Source: VNA

Minister of Planning and Investment, US, becomes biggest investor, Vietnam, cooperation opportunity, development process, basis of equality, mutual respect, mutual benefits
New comment has just been added. Click here
Sort:NewBest News