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Potential to expand Vietnam-US economic and business cooperation

Within the framework of his visit to the US from May 11-17, 2022, Vietnamese Prime Minister Pham Minh Chinh will have a series of activities at the United Nations, meeting with American businesses, friends, intellectuals, Vietnamese youth and students in New York. This is an event that is of great interest to the business community in the US, especially in New York.

The Vietnam News Agency correspondent in New York interviewed the President and CEO of the Business Council for International Understanding Peter Tichansky right before the Prime Minister’s meeting with the business community. New York business that Mr. Tichansky will be honored to participate in.

The American Business Council for International Understanding plays a very important role in promoting US business and commerce with the world through dialogue, connections, and exchanges between businessmen and politicians. government or, in short, commercial diplomacy.

Potential for expanding economic and business cooperation between Vietnam and the United States - Photo 1.

Prime Minister Pham Minh Chinh with US investors and businesses, on the morning of May 12, 2022. Photo: Duong Giang/VNA

How do you evaluate the economic and business cooperation between the US and Vietnam in recent years?

The US-Vietnam economic and trade relationship is currently very strong and will be even stronger. The member companies of our Business Council for International Understanding also place a high priority on cooperation with Vietnamese partners, and they are all active in many diverse fields and industries, interconnection. Therefore, we would like to cooperate closely not only with existing Vietnamese partners but also with future partners.

In your opinion, how can the US-Vietnam economic and business cooperation develop more and more?

One of the things that impressed me was that the Vietnamese government was very attentive when we represented our member companies to submit recommendations to the government. This is the style that makes Vietnam a very different country, because Vietnam understands well how to attract high-quality foreign investment. I think that during the past decade, many American companies have realized this and you can clearly see the trend of American companies becoming more and more involved in investing in Vietnam. Our Business Council for International Understanding will continue to serve as an effective bridge to foster partnerships between US companies and Vietnam.

In your opinion, what are the potential industries for the US and Vietnam to expand and develop?

I think the potential for the US and Vietnam to expand business and trade cooperation is still very much in various fields and industries. The first is agriculture, the second is the life sciences (involving microorganisms, animals, plants and humans as well as bioethics) and the third is energy conversion. These are also the areas that our Business for International Understanding companies prioritize development and have many growth opportunities in Vietnam. At the international conference on responding to climate change COP26 (taking place at the end of 2021), Vietnam made specific commitments on a roadmap to reduce greenhouse gas emissions. Therefore, members of our Business Council, such as Glenfarne, a group specializing in energy transformation, will have more opportunities to cooperate with Vietnam.

I also want to take this opportunity to convey the thanks of ordinary Americans to Vietnam because Vietnam itself is investing in the US, not only being an investment source of the Vietnamese American community here but also a source of investment. investment from Vietnamese companies; For example, VinFast Corporation recently invested in producing electric cars in North Carolina and that shows the solid maturity and potential for cooperation in the US-Vietnam relationship.

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