Top leader attends forum with leading US businesses

Party General Secretary and State President To Lam attended a business forum in New York on September 23 (local time), during his working trip to participate in the 79th UN General Assembly's high-level week, according to a report from the Vietnam News Agency.

The event was organized by the US-ASEAN Business Council (USABC), the US Chamber of Commerce (USCC), and the Business Council for International Understanding (BCIU), in collaboration with Vietnam’s Ministry of Planning and Investment and the Vietnamese Embassy in the US.

During the forum, local businesses spoke highly of Vietnam’s economic priorities, particularly its commitment to removing institutional barriers to facilitate business operations. They expressed their interest in investing in Vietnam, highlighting cooperation in various fields where the country shows potential. The US businesses also pledged to support Vietnam’s sustainable development efforts and requested favorable policies to foster long-term investment and collaboration.

They highly valued Vietnam’s dynamic economic growth over the past years and shared their ideas with the government’s vision on strategic orientations towards a new era.

Addressing the event, Party General Secretary and State President To Lam noted the global economic challenges but at the same time highlighted the ongoing demand for peace, stability, and cooperation, particularly in the Asia-Pacific region, which remains a global growth engine. He also emphasized the continued development of the US-Vietnam relations, built on trust and mutual interests, contributing to regional and global stability and sustainable development. The Fourth Industrial Revolution is taking place strongly throughout the world, in which the US remains one of the locomotives leading financial activities, science and technology, and innovation of the world, the Vietnamese leader said.

In terms of investment, the US has continued to be one of Vietnam's leading partners, while more and more Vietnamese enterprises have invested in the US market, the leader said, noting that two-way trade reached more than $110 billion in 2023, marking the third consecutive year when the figure exceeds $100 billion, thereby consolidating the position of the US as Vietnam's largest export market.

However, he also held that there is plenty of room for the two countries to further promote their cooperation.

The Vietnamese leader expressed his hope that US businesses will work harder to turn the US into Vietnam's biggest investors, promoting their advantages and making full use of opportunities based on equal relations, mutual respect and benefit to match the comprehensive strategic partnership between the two countries.

To this end, ministries, sectors, and agencies of the two sides should continue to concretize major policies and orientations of the bilateral comprehensive strategic partnership, while promptly supporting investors and handling their difficulties and obstacles, and continuing to implement solutions to improve the investment and business environment, he said.

The Vietnamese leader expressed his hope that the US Government will encourage US businesses to increase investment in Vietnam, and create favorable conditions for and provide assistance to Vietnamese investors to expand their effective operations in the US, especially projects in the fields of science, technology and innovation.

He suggested that US investors expand investment in industries and fields such as science and technology, innovation, research and development, green economy, digital economy, circular economy, knowledge-based economy, chip industry, semiconductor, artificial intelligence (AI), internet of things (IOT), new energy, renewable energy, finance, financial centers, biotechnology, and health care.

He also expressed his hope that US investors will continue their support so that the US administration will recognize Vietnam as a market economy at an early date.

The top leader affirmed that the Party and State of Vietnam always take the foreign investment economic sector as an important component of its socialist-oriented market economy, and always pay special attention and create the optimal conditions for the business community in general and foreign-invested enterprises in particular to operate effectively in Vietnam.

He said he hopes the two sides will together head to a new era in bilateral relations, overcoming all challenges and making use of all opportunities, joining hands to build a world of development, peace, and prosperity.

On the occasion, the leader also witnessed the exchange of many cooperation agreements among Vietnamese and US firms.