Opportunity for growth and investment links between Vietnam and the US

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US Ambassador to Vietnam Marc E. Knapper.

Recently, the Vietnam Chamber of Commerce and Industry (VCCI) coordinated with the United States Agency for International Development (USAID) to announce the Provincial Competitiveness Index (PCI) in 2023. Could you tell me about the important role of the Index in attracting foreign investment, including the US?

The announcement of PCI result has been implemented by the US Government since 2005, which is jointly held by USAID and VCCI. PCI is a very significant tool for increasing accountability and transparency in the provinces, aiming to promote greater investment and economic growth. So it’s no coincidence that PCI has been a key tool for companies and provinces to use to attract investment and promote economic growth.

Currently, the US is one of the Vietnam’s largest investors. Foreign investors, especially American investors, always consider provinces that are most competitive in terms of creating a favorable business environment and creating transparency and accountability before deciding to invest in those localities. Therefore, this is an opportunity to create great growth for Vietnam and greater economic links between Vietnam and the US.

How do you evaluate Vietnam's promotion for sustainable development as well as the country’s implementation of commitments at COP26?

Vietnam made a bold decision in 2021 at COP 26 to have a net zero economy by 2050. This is a key element for sustainable development because companies that want to invest in Vietnam have their own commitments.

Through looking at the Provincial Green Index PGI and the data announced by VCCI and USAID, companies can make informed decisions about investment area, and provinces may also provide solutions to make their economies greener, more clean and more attractive to investors who are very interested is green and clean projects.