Hanoi (VNA) - Senior government officials,industry executives and partners gathered in Hanoi on October 28 for the Indo-PacificBusiness Forum (IPBF), which began in Hanoi on October 28.

The virtual event, co-organised by the Vietnam Chamber of Commerce andIndustry (VCCI) and the American Chamber of Commerce, aimed to discuss policiesand seek ways to connect business communities in the region. 

The first IPBF was introduced in Washington DC in 2018. This is the first time Vietnamhas hosted the event after the previous one took place in Thailand lastyear. 

At the forum, the PetroVietnamGas Joint Stock Company (PV GAS) and the US-based AES Corporation signed ajoint venture agreement for the development of the Son My LNG Import TerminalProject - a project with a total investment cost of 1.4 billion USD. 

Minister of Industry and Trade Tran Tuan Anh said the event is an opportunityfor US businesses and investors, as well as those in the region, to cometogether to share ideas and foster cooperation and partnerships. 

VCCI Chairman Vu Tien Loc said the Indo-Pacific business community plays animportant role as the regional economy with a focus on security, economicdevelopment and management. 

In a fast-changing world and in light of the COVID-19 pandemic, technologiesand digitalisation bring many opportunities for those who are able to takethe lead, said Loc.  

This year marks a quarter of a century since the normalisation of Vietnam-USrelations.

Charles Freeman, Vice President of the American Chamber of Commerce, said therehave been remarkable changes in the business environment in the region, whichhas prompted businesses to make adjustments.

Freeman also affirmed the importance of the region to the US' economicinterests and that its commitment to the region remained unchanged. 

During the forum, the United States Agency for International Development(USAID) Vietnam Mission announced the launch of the Vietnam Low EmissionEnergy Program II (V-LEEP II). The five-year, 36-million USD programme is toaccelerate Vietnam’s transition to a clean, secure, and market-driven energysystem.

USAID V-LEEP II will focus on improving government energy planning practices;increasing competition and private sector involvement in energy serviceprovision; deployment of advanced, clean energy systems; and improving gridplanning to incorporate clean energy transmission. It will also help Vietnamattract qualified investors for advanced energy projects and advise privatefirms to develop high quality and bankable projects./.