Post by : Meena Ariff

Photo: Wikipedia

Prime Minister Pham Minh Chinh recently held an important meeting with leaders from some of the largest and most powerful American companies in the world. The meeting was attended by representatives from Abbott, Amazon, Apple, Boeing, Brunswick, Citibank, Exxon Mobil, Ford, Google, IBM, Intel, Manulife, Meta, UPS, Warburg Pincus, Odgers Berndtson, and Zuellig Pharma.

US Companies Praise Vietnam’s Efforts

During the meeting, these business leaders praised PM Chinh for regularly holding discussions with them. They said that such open dialogues always lead to real progress, as they feel their problems and concerns are heard and solved quickly. This creates trust and confidence between Vietnam and international businesses.
The US companies appreciated that Vietnam’s investment and business environment have become more favourable in recent years. They admired Vietnam’s strong commitments, clear vision, and concrete actions, especially in making administrative procedures simpler and faster for companies to operate smoothly.

Long-Term Commitment to Vietnam

The companies assured PM Chinh that they are committed to long-term investment, production, and business cooperation with Vietnam in the future. They believe Vietnam is a strong and growing market where their businesses can expand. However, they also shared many recommendations and proposals to make the business environment even better, to build a stronger, stable, and effective relationship with Vietnam.

PM Chinh Directs Quick Action on Feedback

After listening carefully to their feedback, PM Chinh instructed the relevant ministries and government agencies to:
Quickly review all suggestions and feedback from the US companies

Act on them without delay

Ensure that all tasks have clear roles, responsibilities, deadlines, and expected outcomes
He emphasised that these tasks must be carried out with accountability, meaning that government departments must take full responsibility for results and inform businesses about progress clearly.

Focus on New Technologies and Future Industries

PM Chinh urged US companies to deepen their cooperation with Vietnam, especially in important new sectors such as:

• Science and technology (sci-tech)
• Innovation
• Digital transformation
• Artificial intelligence (AI)

He explained to the business leaders that Vietnam is continuing its reforms and modernisation efforts. The country plans to bring in even more changes in the future to create the best possible conditions for people and businesses. The Prime Minister said Vietnam is changing its approach by putting people and businesses at the centre of all policies, shifting from a passive style to an active approach, and changing from just management to providing services and support to businesses.

Equal Opportunities for Domestic and Foreign Companies

PM Chinh assured the US companies that Vietnam is committed to ensuring equal access to all resources for both local Vietnamese businesses and foreign companies operating in the country. He also said the government is working on making visa rules and labour policies simpler and better, which will help foreign businesses operate more easily.

Progress in Trade Agreements

He shared that Vietnam and the US have reached consensus on a joint statement for a fair and balanced reciprocal trade agreement framework. This will lay the foundation for stable, sustainable, and strong economic and trade ties between the two countries, benefiting people and businesses on both sides.

Thanks to US Companies

PM Chinh took this opportunity to thank US companies for their support in pushing forward these negotiations. He also thanked them for their investments and business cooperation with Vietnam, which has brought real and tangible benefits to both countries.

Calls for Fair Trade Practices

To improve the quality and effectiveness of trade, investment, and business cooperation, PM Chinh requested the US business community to:

• Continue to raise their voices and partner with the Vietnamese Government during dialogues with US agencies.
• Help reach agreements on reasonable tariffs for individual products and product groups, which will ensure stable, harmonious, sustainable, and mutually beneficial trade turnover.

He also urged US companies to:

• Advocate for sustainable economic, trade, and investment ties between the US and Vietnam
• Avoid using trade defence measures against Vietnamese exports, as such measures could harm Vietnam’s economy and hurt the positive relationship between both countries
• Support Vietnam’s request to be recognised as a market economy soon

Help remove Vietnam from the list of high-tech export restrictions, allowing it to access and import advanced technologies more easily

Encouraging Technology Transfer and Workforce Training

PM Chinh suggested that US firms:

• Increase high-quality investments in Vietnam.
• Transfer advanced and modern technologies to Vietnamese companies.
• Support Vietnamese businesses in improving management capabilities and training their workers to international standards.
• He especially asked for US investments in agriculture, manufacturing and processing industries, semiconductors, and artificial intelligence. These sectors are key to Vietnam’s long-term economic development plans.

Support for Vietnamese Businesses in Global Supply Chains

The Prime Minister requested that US companies create more opportunities for Vietnamese firms to become part of their global supply chains. This will help Vietnam integrate better with the world economy and create more jobs and growth within the country.
He also asked them to continue providing policy advice to the Vietnamese Government to help improve laws, regulations, and the business environment to meet international standards.

Government’s Continued Commitment to Businesses

PM Chinh assured that the Vietnamese Government will continue to:

• Streamline administrative procedures
• Regularly review and improve laws and policies to make them open, transparent, and fair for everyone
• Protect the legitimate rights and interests of investors
• Help companies reduce compliance costs, input costs, and logistics costs
• Enhance the competitiveness of Vietnamese businesses
• Ensure businesses can operate smoothly, efficiently, and sustainably in Vietnam

He concluded by saying that the Vietnamese Government will continue working with the spirit of “harmonising benefits and sharing risks” with the US business community to strengthen the Vietnam-US Comprehensive Strategic Partnership, ensuring long-lasting growth and success for both sides.