Washingon D.C (VNA) - Cooperation activities between Vietnam and the US continueto develop deeply in all fields, particularly in investment and finance, withbusinesses of the two countries playing a very important role, said PrimeMinister Pham Minh Chinh.

He made the statement at a meeting with the US business community inWashingon D.C on May 12 (local time), as part of histrip to the US.

The meeting was held by the US-ASEAN Business Council and the US Chamber ofCommerce, during which he also affirmed that Vietnam always considers the US a leading partner.

He said the impressive growth of trade of between 17-20 percent a yearproves that there remains an ample room for economic development between thetwo countries.

Vietnam is the ninth largest trading partner of the US. Two-way tradeturnover between the two countries in 2021 reached nearly 112 billion USD inspite of difficulties caused by the COVID-19 pandemic, the PM noted.

He said the world's context is undergoing many changes with opportunities,advantages and challenges intertwining. Vietnam is currently implementing thepolicy of safe and flexible adaptation to and effective control of thepandemic. The macro economy is stabilised and major balances guaranteed. Vietnam is also focusing on infrastructure development,particularly strategic transport infrastructure, climate change prevention,digital transformation, pandemic prevention and control, healthcare andeducation infrastructure, and administrative reform.

Vietnam was named among the world’s top 20 host economies for foreigndirect investment, according to UN Conference on Trade and Development(UNCTAD), the PM said. With support from international friends, the countrytargets to become a developing country with developed industry by 2025, adeveloped country with modern industry and upper middle income by 2030 and ahigh income country by 2045.

In order to fulfil the targets, Vietnam continues to build an independent,self-reliant, proactive and active economy with practical and effectiveinternational integration, he said, adding that Vietnam wants the US andother important partners, particularly US businesses, to support the country inthis issue.

He reiterated Vietnam’s foreign policy of independence, self-reliance,diversification and multilateralisation, for peace, friendship, cooperation anddevelopment; and being a trustworthy partner and an active and responsiblemember of the international community.

The leader said he is willing to hold dialogue with anyone in the world about theeconomy of Vietnam and democracy and human rights in Vietnam.

At the meeting, USABC President and CEO Ted Osius said Vietnam facilitates the US business community to invest and do business in thecountry. 

US businesses consider Vietnam as a strategic market so they pay specialattention to the development of the country, particularly in digitaltransformation, green transformation and strategic infrastructure development,he said. 

Katherine Tai, US Trade Representative (USTR), affirms that Vietnam is oneof largest trading partner of the US in ASEAN.

The USTR is attention to creating a sustainable agriculture systembasing on science and effective management, digital economy development, andsupport small- and medium-sized businesses. Therefore, the USTR wants tocooperate with Vietnam in this field to help promote the between the two countries.

At the meeting, PM Chinh answered questions of the US businesses aboutissues relating to digital transformation, pandemic prevention andimplementation of COP26 commitments. He proposed the US support Vietnam in buildingmechanisms, science technology, finance and human resourcestraining.  

Regarding the Indo-Pacific economic framework, he affirmed Vietnam is willing to work with the US in analysing, evaluating, clarifying andconcretising its contents such as about supply chain, digital transformation,climate change adaptation and other issues relating to tax and labour in orderto cooperate for the benefits of the peoples of the two countries and forpeace, cooperation and development in the region and theworld.   

Representatives from the US business affirmed that Vietnam is an importantpartner in ASEAN and they will closely coordinate with Vietnamese businessesand authorities to boost investment efficiency. They also committed long-terminvestment in Vietnam./.