MoIT keen to bolster economic cooperation with US firms

The Ministry of Industry and Trade (MoIT) will focus on some cooperation fields with the US this year and hopes to receive support from businesses of the country, Deputy Minister of Industry and Trade Do Thang Hai has said when meeting a delegation of the US-ASEAN Business Council (USABC) in Hanoi.

MoIT keen to bolster economic cooperation with US firms hinh anh 1

A garment factory in Vietnam (Photo: VNA)

The Ministry of Industry and Trade (MoIT) will focus on some cooperation fields with the US this year and hopes to receive support from businesses of the country, Deputy Minister of Industry and Trade Do Thang Hai has said when meeting a delegation of the US-ASEAN Business Council (USABC) in Hanoi.

At a working session, the MoIT informed more than 40 leading firms of the US operating in Vietnam about its priorities this year.

The ministry is to ensure material supplies to meet demand for production recovery and development, and address bottlenecks in important industrial projects, Hai added.

It will facilitate recovery of factories to build supply chains and maintain orders by firms of other countries, including the US.

Priorities will be given to major public investment projects, notably in energy, infrastructure, and industry and trade development, so as to boost consumption and trade, along with expanding markets for spearhead manufacturing industries of steel, mechanics, building materials and automobiles.

In the long term, the MoIT will fine-tune legal framework and policies in industrial project investment and development. It will keep a close watch on COVID-19 developments and trade with countries to propose suitable measures to the Government.

Due attention will be paid to the implementation of free trade agreements (FTAs) to support firms and maximise opportunities brought by the trade pacts, the official continued.

Other tasks of the ministry comprise the holding of trade promotions, assistance for farm produce exporters, streamlining administrative procedures and market forecast, and resolving difficulties in transport to avoid disruption of the supply chain in the context of COVID-19, among others.

USABC President and CEO Ted Osius pledged that the council will closely work with Vietnamese businesses to promptly resume production activities.

The USABC is supporting Vietnam’s relevant agencies to carry out FTAs that the country is a signatory of. In addition, US firms will help Vietnam develop the circular economy and earned value management (EVM) regulations, he underlined.

For their parts, US businesses, including Ford Vietnam, ExxonMobil Asia Pacific and Nike Vietnam, expressed their interest in investing in the fields of logistics, high technology industries, clean energy transition, digital transformation and circular economy in combination with sustainable development.

Hai took note of proposals and recommendations by US companies at the event and assigned relevant agencies to consider and handle them under their jurisdiction./.

Source: VNA
en.vietnamplus.vn

Related News

Avoid disadvantages for Vietnamese exports from new defense measures

Avoid disadvantages for Vietnamese exports from new defense measures

VCN - As trade scale grows larger, Vietnam's exported goods face many new trade defense lawsuits from importing countries. On the contrary, Vietnam also uses more trade defense tools to protect domestic industries to prevent unfair competition. In the face of developments in trade defense cases, businesses are always warned to get information early to take timely response measures.
Businesses overcome barriers to deeply penetrate the US market

Businesses overcome barriers to deeply penetrate the US market

VCN - The export market has always been a challenging equation not only for small and medium-sized enterprises but also for large units. Particularly for premium markets like the US and the EU, getting Vietnamese products into these markets is always a key objective.
Opportunity for growth and investment links between Vietnam and the US

Opportunity for growth and investment links between Vietnam and the US

VCN- “Before deciding to invest, the US investors are always interested in building the business and investment environment in localities”, US Ambassador to Vietnam Marc E. Knapper told the media.
Textiles and footwear in a greening spiral

Textiles and footwear in a greening spiral

VCN - More and more regulations on sustainable development are issued in major markets such as the US and EU, imposing pressure on Vietnamese textile and garment enterprises to be faster on the green roadmap.

Latest News

Linkage - the "key" to sustainable development of agricultural value chains

Linkage - the "key" to sustainable development of agricultural value chains

VCN - Promoting sustainable and effective development of agricultural value chains is a core factor in restructuring Vietnam's agricultural sector and the key to optimize the value of Vietnam's agricultural exports.
Supporting industry enterprises: Learning standards, understanding opportunities

Supporting industry enterprises: Learning standards, understanding opportunities

VCN - Currently, many potential industries have "opened" opportunities for Vietnamese enterprises to enter, such as the semiconductor industry, supporting industries for the aviation sector. However, the higher the added value of the sector, the more it requires enterprises to meet international standards.
Vietnam’s distinctive agricultural exports to China exhibited in Hanoi

Vietnam’s distinctive agricultural exports to China exhibited in Hanoi

An exhibition showcasing Vietnam’s distinctive farm produce exported to China opened in Hanoi on October 13, featuring the participation of 16 local enterprises and introducing over 50 categories of high-quality products from across the three regions of the country.
100 most valuable Vietnamese brands on the limelight

100 most valuable Vietnamese brands on the limelight

This year’s Brand Finance Vietnam 100 Report was also released to provide a comprehensive picture of the valuations.

More News

Need to quickly act to catch up with the "green" trend

Need to quickly act to catch up with the "green" trend

VCN - With the movement from the global level to Vietnam's main markets, as well as the strong commitment of the Vietnamese Government, the trend of "compulsory green/sustainable transformation" has become clear to Vietnamese businesses instead of voluntary as before. However, the level of readiness of businesses is not high.
Businesses cooperate to develop advanced technology

Businesses cooperate to develop advanced technology

VCN- In order to foster development of the high-tech sector, one of factors is close cooperation between businesses to improve competitiveness and promote innovation.
Export target for 2024 set at US$400 billion

Export target for 2024 set at US$400 billion

VCN - Since the beginning of the year, Vietnam's export activities have continued to recover. It is forecasted that the total export turnover for the entire year may reach a historic milestone of US$400 billion.
Thai Binh intensifies cooperation with Russian localities

Thai Binh intensifies cooperation with Russian localities

A delegation from the northern province of Thai Binh, led by Chairman of the provincial People’s Council Nguyen Tien Thanh, on October 10 met with representatives of the Moscow Chamber of Commerce and Industry, along with several Russian businesses.
Ho Chi Minh City partners with nine provinces to boost import and export activities

Ho Chi Minh City partners with nine provinces to boost import and export activities

VCN - Ho Chi Minh City (HCMC) and nine provinces in the northern and north-central regions are cooperating in socio-economic development, leveraging each region's advantages and potential to boost import and export activities.
Vietnam

Vietnam's second rice brand enters picky Japanese market

Japonica - AAN has become the second Vietnamese rice brand to have entered Japan, with a ceremony held on October 9 to debut the produce.
Enterprises need to be ready to respond to trade defense

Enterprises need to be ready to respond to trade defense

VCN - According to the Department of Trade Defense, through the process of protecting the rights of Vietnamese manufacturing and exporting enterprises in each trade defense case, the outcome of the appeal depends largely on the quality of coordination between the parties involved.
Foreign investors interested in green development, semiconductor industry in Vietnam

Foreign investors interested in green development, semiconductor industry in Vietnam

Green, clean development and semiconductor chip production are among the sectors in Vietnam that foreign investors are interested in, according to VinaCapital CEO and Founding Partner Don Lam.
Vietnam’s stainless steel exports under dual investigation

Vietnam’s stainless steel exports under dual investigation

The US Department of Commerce (DOC) has initiated an anti-dumping and countervailing duty investigation into corrosion-resistant steel (CORE) imported from Vietnam, alongside nine other countries and territories.
Read More

Your care

Latest Most read
Linkage - the "key" to sustainable development of agricultural value chains

Linkage - the "key" to sustainable development of agricultural value chains

Promoting sustainable and effective development of agricultural value chains is a core factor in restructuring Vietnam's agricultural sector and the key to optimize the value of Vietnam's agricultural exports.
Supporting industry enterprises: Learning standards, understanding opportunities

Supporting industry enterprises: Learning standards, understanding opportunities

VCN - Currently, many potential industries have "opened" opportunities for Vietnamese enterprises to enter, such as the semiconductor industry, supporting industries for the aviation sector. However, the higher the added value of the sector, the more it r
Vietnam’s distinctive agricultural exports to China exhibited in Hanoi

Vietnam’s distinctive agricultural exports to China exhibited in Hanoi

An exhibition showcasing Vietnam’s distinctive farm produce exported to China opened in Hanoi on October 13, featuring the participation of 16 local enterprises and introducing over 50 categories of high-quality products from across the three regions of the country.
100 most valuable Vietnamese brands on the limelight

100 most valuable Vietnamese brands on the limelight

This year’s Brand Finance Vietnam 100 Report was also released to provide a comprehensive picture of the valuations.
Need to quickly act to catch up with the "green" trend

Need to quickly act to catch up with the "green" trend

VCN - With the movement from the global level to Vietnam's main markets, as well as the strong commitment of the Vietnamese Government, the trend of "compulsory green/sustainable transformation" has become clear to Vietnamese businesses instead of volunta
Mobile Version