Top leader attends forum with leading US businesses

The local businesses expressed their interest in investing in Việt Nam, highlighting cooperation in various fields where the country shows potential.

Party General Secretary and State President Tô Lâm participated in a business forum during the 79th UN General Assembly's high-level week in New York on Monday (local time).

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

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

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

Party General Secretary and State President Tô Lâm 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 emphasised the continued development of the US-Việt Nam 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, he said.

In terms of investment, the US has continued to be one of Việt Nam'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 US$110 billion in 2023, marking the third consecutive year when the figure exceeds $100 billion, thereby consolidating the position of the US as Việt Nam's largest export market.

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

Lâm expressed his hope that US businesses will work harder to turn the US into Việt Nam'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 concretise 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.

Lâm expressed his hope that the US Government will encourage US businesses to increase investment in Việt Nam, and create favourable 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 centres, biotechnology, and health care.

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

The top leader affirmed that the Party and State of Việt Nam 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, Lâm also witnessed the exchange of many cooperation agreements among Vietnamese and US firms.