PM Phuc receives US enterprises on sidelines of APEC summit

Prime Minister Nguyen Xuan Phuc (the second from the left) at a dialogue session in group with US firms

These firms are running many investment, production and business projects in Vietnam in the fields of biotechnology, product quality inspection, health care, rare disease treatment and tobacco industry.

The Vietnamese government leader congratulated the US enterprises on their successes in business in Vietnam, saying that they have earned credibility among people and businesses in Vietnam.

The US-ASEAN Business Council (USABC) has worked closely with Vietnam, and supported Vietnam in promoting cooperation between Vietnamese and US enterprises, thus contributing to balancing the trade ties between the two countries, PM Phuc said.

He noted that US firms have invested over US$12 billion in Vietnam so far, and the two-way trade hit over US$55 billion. The bilateral trade scale surged by 35 times in the last 18 years, with the US’s export to Vietnam was up 37% - the highest level in recent year.

According to the PM, there is plenty of room for the two nations to strengthen cooperation in the coming time, especially in trade, investment and business. He affirmed that the Vietnamese Government is willing to listen to proposals and dialogues from US investors during their operation in Vietnam.

The US business representatives said they want to expand their investment in Vietnam in health care, hi-tech application in inspecting product quality, and in supporting Vietnamese farmers in improving economic value of the livestock industry.

Touching upon a number of policies and Government’s documents in health care, agriculture, livestock and tobacco industry, the business delegates said they wish to hold more dialogues with Vietnam’s authorities, especially State management agencies. They added that their firms are ready to arrange for US experts and scientists to join the Vietnamese Government in building State management policies for a number of specific sectors.

PM Phuc affirmed that the Vietnamese Government always creates favourable conditions for foreign investors, including those from the US to operate in Vietnam, noting that Vietnam is constantly improving its policies and institutional system to be in line with international practices and comply with trade agreements that Vietnam has joined, towards opening the market for more foreign investors to enter Vietnam.

Vietnam is open to feedback and recommendations from foreign investors so as to remove obstacles to production and business activities, the PM said and called on US firms to continue promoting their investment, production and business in the Vietnamese market.