US Trade & Investment Remains Strong in Vietnam

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The Vietnamese Government attaches special importance to extending trade and investment ties with the US, particularly exchanges and partnerships between the two countries’ businesses, Prime Minister Nguyen Xuan Phuc affirmed.

Welcoming a delegation of the US – ASEAN Business Council (USABC) led by its President Alexander Feldman in Hanoi yesterday, the PM said the government advocates building policies in service of businesses. Policy makers prioritize transparent and open consultation with the business community, including foreign-invested enterprises.

The Vietnamese Government is determined to restructure its economy in combination with renewing the growth model, facilitating start-ups and renovation, grasping opportunities arising from the fourth industrial revolution and stepping up administrative reform to create a favorable business environment, Phuc said.

In order to achieve such goals, he said Vietnam needs the support of enterprises, including those from the United States.

The delegates stressed the importance of the Vietnamese Government taking steps to clear obstacles facing US projects in Vietnam, especially for businesses related to renewable energy, machinery engineering, electricity, beverages, information technology and cyber security.

Southeast Asian stock markets rose this week with Vietnam scaling an all-time peak.

U.S. Treasury Secretary Steven Mnuchin said in February he had “begun to have very high-level conversations” on the Trans-Pacific Partnership, and rejoining the regional trade pact is an option for President Donald Trump.

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