Vietnam, U.S. Join Forces to Bolster Harmonious Relations

9:52:20 AM | 3/9/2022

The U.S.-Viet Nam Business Summit 2022 was jointly held by the Vietnam Chamber of Commerce and Industry (VCCI), the America Chamber of Commerce in Vietnam (AmCham), and the U.S. Chamber of Commerce on March 8.

Themed “Defining the future of bilateral economic relations”, the event was to elevate and intensify the engagement between two countries on trade issues. Key discussion topics included promoting sustainable investment and stable policies to energize economic recovery; driving future growth and innovation through the digital and creative economy; addressing energy development needs to fuel Vietnam’s future growth.

Delivering the keynote address at the event, Prime Minister Pham Minh Chinh emphasized that in the context of complicated pandemic developments, we have had more experience and better conditions to deal with the pandemic and promote the opening of the economy in a new context.

Prime Minister Pham Minh Chinh expressed his belief that Viet Nam and the U.S. share mutual interests in climate change and digital transformation.

Prime Minister Chinh called for ensuring fairness and justice which are fundamental to addressing the challenges of global climate change while calling on countries to support Viet Nam in terms of institutions, green finance, green technology, and green governance.

On digital transformation, Prime Minister Chinh said Viet Nam lays the focus on building digital government, digital citizens, digital economy, and digital society with a view that this is a must-do change in the current development trend.

In addition to the aforesaid common denominators, he mentioned robust growth of trade and investment linkages as another solid ground of the bilateral ties.

Vietnam and the U.S. should promote relations based on the principle of harmonious benefits and sharing risks, he suggested.

“ The more difficult it is, the more we need to unite, put each other's legitimate interests first, and work together to solve challenges towards success," Prime Minister Pham Minh Chinh affirmed.

Addressing the gathering, Mr. Pham Tan Cong, President of Vietnam Chamber of Commerce and Industry (VCCI) said, “Up to now, Vietnam has become one of the countries with the highest COVID-19 vaccine coverage in the world, creating a premise for Vietnam's economy to open up. At the same time, it is the basis for enterprises to restore production and business”.

Mr. Pham Tan Cong affirmed Vietnam will strive to become a high-income developed country by 2045, with a growth rate of 7% per year in the period 2021-2045, the size of the economy in 2045 reaching about US$1,850 billion, and per capita income reaching US$14,730.

“Given the position of the United States as the largest export market of Vietnam and the position of Vietnam as the 9th largest trading partner of the United States, it can be affirmed that the agreements of trade and investment cooperation between Vietnam and the United States play an important role in Vietnam's achievement of the above-mentioned economic goals,” affirmed the VCCI President Cong.

 “I believe that Vietnamese and U.S .businesses will have successful cooperation in the fields of electricity and gas (LNG), clean energy, and renewable energy, contributing to the development of harmonious two-way trade and realizing the goal of energy security," VCCI President affirmed.

VCCI President Pham Tan Cong emphasized dynamism, creativity, and innovation to adapt to the new normal, Vietnamese and American businesses have actively cooperated for mutual development and have become one of the main factors defining the future of bilateral economic relations.

By Vietnam Business Forum