State leader urges US businesses to grasp cooperation opportunities in Việt Nam

State leader urges US businesses to grasp cooperation opportunities in Việt Nam

State President Lương Cường stressed that the 30-year history of Việt Nam-US relations is a vivid testament to reconciliation and trust building, with economic, trade and investment cooperation serving as a central pillar.

State President Lương Cường speaks at a discussion with US businesses in New York. — VNA/VNS Photo Lâm Khánh

State President Lương Cường has asked the US business community to seize current opportunities in Việt Nam, expand their presence and invest more deeply and broadly in the country, thereby ushering in a new era of promising, sustainable cooperation together.

The Vietnamese State leader made the call during a discussion with US businesses in New York on Tuesday (local time) as part of his US trip for the high-level General Debate of 80th Session of the United Nations General Assembly and bilateral activities.

The event brought together senior executives and representatives of major US corporations including Vantive, Amazon, Apple, AES, Amway, Boeing, Excelerate Energy, Warburg Pincus, The Asia Group, Excel Services Corporation, Atlas Air, Meta and The Coca-Cola Company.

President Cường recalled that after nearly 40 years of “Đổi mới” (Renewal) policy, Việt Nam has transformed from an inefficient economy with per capita income under US$100 in 1986 into one of the world’s 32 biggest economies, with trade turnover ranking among the world’s top 20. It has signed 17 new-generation free trade agreements, creating a tightly connected network with more than 60 major economies worldwide, he noted.

He stressed that the 30-year history of Việt Nam-US relations is a vivid testament to reconciliation and trust building, with economic, trade and investment cooperation serving as a central pillar. Bilateral trade reached nearly $140 billion last year, while the effective operations of leading US corporations in Việt Nam clearly demonstrate mutual trust and the potential for partnership.

Outlining Việt Nam’s long-term vision of becoming a prosperous and happy nation, and a high-income developed country by 2045, the State President underlined that the country is pursuing bold institutional reforms, improving human resource quality and upgrading infrastructure as core drivers of growth.

Among the key steps taken, Việt Nam has completed the building of a two-tier local government system nationwide to ensure efficiency and effectiveness, revised major laws such as the Law on Investment, the Law on Enterprises and the Land Law to create a more open and transparent business environment, and rolled out the National Digital Transformation Strategy, administrative reforms, e-government initiatives, and policies to promote innovation, the green economy and renewable energy, said the Vietnamese leader.

Calling for more investment from US businesses, President Cường reaffirmed that the Vietnamese State is committed to providing the most favourable conditions for US investors to confidently choose Việt Nam as a long-term destination to accompany the country in building a prosperous and sustainable future together.

US companies reflected on their ongoing investment cooperation in Việt Nam, highlighted the country’s vast potential and opportunities for collaboration, and shared experience and recommendations to further strengthen their contribution to Việt Nam’s development.

They expressed admiration for Việt Nam’s remarkable socio-economic progress, praised its forward-looking development strategy, and voiced confidence that with the directions already set, Việt Nam will become an attractive destination for international investors and achieve more successes in the future.

Sharing common goals and priorities with Việt Nam, from driving digital transformation and boosting exports to ensuring equitable development, the US businesses agreed that Việt Nam has strong potential to become a top destination across multiple sectors, reaffirming their commitment to expanding investment and cooperation in the country. 

Bizhub