​Vietnam PM calls on US firms to consider Vietnam as long-term investment hub

​Vietnam PM calls on US firms to consider Vietnam as long-term investment hub

Vietnamese Prime Minister Pham Minh Chinh called on U.S. businesses to promote the bilateral relationship between Vietnam and the U.S., invest in high-quality sectors, particularly in hi-tech industries, big data, and artificial intelligence, and consider Vietnam as a long-term investment hub at a dialogue in Hanoi on Saturday.

Representatives of U.S. enterprises at a dialogue with Vietnamese Prime Minister Pham Minh Chinh in Hanoi, February 1, 2025. Photo: Vietnam Government Portal

The government leader shared that he had urged the Ministry of Science and Technology to issue a licence for Elon Musk's Starlink to provide satellite Internet in the country.

He also told the Ministry of Construction, the Ministry of Public Security, and related agencies to encourage FedEx to build warehouses and express delivery hubs at Long Thanh Airport in Dong Nai Province in the south, Chu Lai Airport in Quang Nam Province in the central region, and Gia Binh Airport in Bac Ninh Province in the north.

Based on the rapidly developing bilateral relations between the two countries, the prime minister affirmed that the U.S. and American businesses continue to promote their relationship with Vietnam in a spirit of fairness, equality, and harmony, taking into account Vietnam’s conditions.

With cooperation not yet matching its potential, PM Chinh called on U.S. businesses to continue studying, investing, and expanding production in the digital economy, green economy, circular economy, sharing economy, and knowledge economy.

This is significant as Vietnam aims for an eight-percent growth rate this year and double-digit growth in the near future.

Therefore, Vietnam is focusing on three strategic breakthroughs: institutional reform, infrastructure, and human resources.

He urged U.S. enterprises to support Vietnamese enterprises in participating in the global supply chain.

Deputy Chief of Mission at the U.S. Embassy in Vietnam Courtney Beale stated that the U.S. views Vietnam as a very important market, and its businesses are ready to cooperate and support the development of various sectors, especially as the two economies have strong overlaps, creating a great opportunity for bilateral investment and trade.

The two countries boast long-term partnership in semiconductor manufacturing, with many Vietnamese enterprises involved in assembly, testing, and packaging processes. Vietnam is one of the important, reliable partners in the supply chain.

Therefore, U.S. businesses could strongly promote cooperation with Vietnamese firms in AI, blockchain, quantum technology, innovation, digital transformation, energy security, renewable energy, infrastructure, tourism, aviation, and healthcare.

Chairman of the American Chamber of Commerce in Vietnam (AmCham) in Hanoi Eric Johnson said U.S. President Donald Trump highly values the comprehensive strategic partnership with Vietnam and the tangible benefits it brings to both nations. The U.S. is continuing to review unfair regulations and barriers for removal.

U.S. enterprises appreciate Vietnam's proactive efforts in fulfilling commitments, streamlining administrative apparatus, simplifying administrative procedures, and improving the business environment to make it transparent, fair, and predictable.

A notable move is Party General Secretary To Lam’s requirement to reduce administrative processing time, business costs, and unnecessary business conditions by at least 30 percent.

Representatives from Coca-Cola and consulting firms like Bower Group Asia and Bay Global Strategies also raised some recommendations regarding public consultation in development of policies and tax laws and responding to changing global trade policies.

Representing Vietnamese businesses, a leader of Vietnam Airlines shared that they are in the process of purchasing 50 Boeing aircraft with a total value of some US$11 billion.

Meanwhile, Vietjet, another air carrier, is also in the process of buying 200 Boeing aircraft. Other aircraft contracts between partners from both countries are also under negotiation.

PM Chinh said that Vietnam holds a strategic position and many advantages to develop the aviation industry. Therefore, he urged Boeing to consider offering discounts to Vietnamese airlines and investing in an accessory manufacturing factory and aircraft maintenance center in Vietnam.

Tuoi Tre News