Vietnam, US seek to boost investment, trade ties

Deputy Prime Minister Trinh Dinh Dung has praised the contributions made by Vietnamese and US businesses to bilateral relations over the past 25 years.

Speaking at the Vietnam-US business summit in Hanoi on Friday, Mr. Dung said the US has long been one of Vietnam's top trade partners with bilateral trade increasing by more than 130 times from 450 million USD in 1994, when the two countries first normalised bilateral diplomatic ties, to nearly 60 billion USD last year.

Vietnam's consistent policy is to consider the US a leading partner and continue to promote bilateral relations, in which economic-trade-investment partnerships remain a driving force. The Vietnamese government pledges optimal conditions for foreign firms including those from the US to invest and do business efficiently in Vietnam, said Mr. Dung.

US Ambassador to Vietnam Daniel Kritenbrink said it's the right time to expand and deepen the economic and trade relations between the US and Vietnam.

He added: The US is Vietnam's strong partner. We urge you to continue to maintain its predictable investment in tax environment not just for American firms but for all foreign companies. We eagerly partner with Vietnam as it pursues a digital economy. We and our world class leading tech companies stand ready to provide our expertise as Vietnam develops exciting emerging technology like e-payment, online streaming, artificial intelligence, and smart city.

Also high on the agenda of the Vietnam-US business summit was the promotion of investment, sustainable policies, growth via the new digital economy, and solutions for Vietnam to benefit from global trade developments.

Participants called on the Vietnamese government to enact policies in the interest of continuing development, adding that investment from the private and foreign sectors in research will likely contribute to the future success of Vietnam.

Source: VOV5