Thế Giới

The space for economic development between Vietnam and the US is very large

The space for economic development between Vietnam and the US is very large - Photo 1.

Prime Minister Pham Minh Chinh speaks at a working session with the American business community on the morning of 12-5 local time – Photo: NGUYEN KHANH

The relationship between Vietnam and the US is like the taste of dishes, sour, spicy, salty, sweet, but overall, it creates a very attractive dish.

Prime Minister Pham Minh Chinh likened the relationship between the two countries, making many guests in the auditorium burst into laughter.

“The two countries’ trade growth is impressive at 17-20%/year, proving that the economic development space is very large. There is still a lot of room,” Prime Minister Pham Minh Chinh shared.

New motivation, new inspiration

Addressing the American business community, the Prime Minister emphasized that we are sitting in this auditorium without having to wear a mask because of international solidarity to join hands to fight the COVID-19 pandemic.

“Up to now, the two countries have basically controlled the epidemic situation. We have been given new motivations and inspirations for the development of the two countries in the new period to bring benefits to the people. peace, cooperation and development for the region and the world”, the Prime Minister said and thanked the US for supporting a COVID-19 vaccine for Vietnam.

Then, the Prime Minister reviewed a number of achievements in trade cooperation between the two countries: Vietnam is the 9th largest partner of the US and the US is the 2nd largest partner of Vietnam in trade. In 2021, bilateral trade will reach about 112 billion USD, of which Vietnam exports to the US 90 billion USD, although 2021 is a difficult year, trade will reach a record.

The Prime Minister said that Vietnam is focusing on technological innovation, digital transformation, and diversification of supply chains, and pointed out: “Our two economies complement each other and do not cancel. There is still a lot of work to be done to bring many benefits to businesses of the two countries.”

The Prime Minister hoped that American partners and businesses would continue to come to Vietnam to seek opportunities based on the spirit of sincerity, trust, responsibility and “benefits must be harmonized, risks must be shared”.

Ted Osius, USABC president and chief executive officer, said that the American business community considers Vietnam a strategic priority market, contributing to Vietnam’s growth and prosperity.

“We are supporting Vietnam in digital transformation, green transformation, climate change fight and health development. The large number of businesses participating in this event is a clear demonstration of the relationship. that we put in Vietnam. The US understands how important the two countries are to each other,” said the former US ambassador to Vietnam.

Ms. Katherine Tai, chief US Trade Representative (USTR), said USTR is focused on developing the digital economy because it “will change rapidly in the global market”. Ms. Tai said the digital economy will protect workers’ rights, support small and micro businesses, and the US “looks forward to cooperating with Vietnam in this field”.

Resolve Supply Chain Disruptions

In the afternoon of the same day, Prime Minister Pham Minh Chinh together with leaders of ASEAN countries, US Commerce Secretary Gina Raimondo and USTR Chief Katherine Tai met with the US business community to discuss economic cooperation, including businesses. leading US companies such as Google, Abbott, Qualcomm, GE, Boeing, AES, Chevron…

At this event, Mr. Ted Osius emphasized that ASEAN is a region with very important influence to the US both now and in the future. The two economies have complementary effects and in the past time have cooperated and implemented many effective cooperation initiatives.

Trade Minister Gina Raimondo affirmed that President Biden and the US Government always consider ASEAN as the most important and central partner of the US. She said that in the coming time, the cooperation will focus on solving supply chain disruptions, enhancing resilience to climate change, dealing with difficulties caused by supply chain disruptions, energy clean quality for inclusive and sustainable growth.

Ms. Raimondo said that the US and ASEAN will also strengthen cooperation in industry, especially in clean technology, reducing greenhouse gas emissions, and decarbonizing. The US pledged to continue to deepen the cooperation relationship with ASEAN, considering this as one of the focuses, for the development and prosperity of the region.

Meanwhile, ASEAN leaders want American businesses to support digital development, enhance the value of the global supply chain.

ASEAN leaders said that the two sides have had many cooperation initiatives, however, it is necessary to mobilize all capital sources for investment in green energy development, building green energy standards; expect the US to assist in capacity building and technical assistance.

Mr. Biden said he would arrange a visit to Vietnam

At 12-5 o’clock local time, Prime Minister Pham Minh Chinh had a private meeting with US President Joe Biden, within the framework of the ASEAN-US Special Summit in Washington, DC.

According to information from the Ministry of Foreign Affairs, at the meeting, US President Joe Biden shared that he personally always has a lot of love for the country and the people of Vietnam.

President Biden wishes to cooperate and support developing and less developed countries in many fields, including economic and trade development, disease prevention and response to climate change.

Prime Minister Pham Minh Chinh said Vietnam wants the US to strengthen cooperation and support Vietnam in developing a green economy, a circular economy, diversifying supply chains, and converting to sustainable energy.

On this occasion, the Prime Minister respectfully conveyed the invitations of General Secretary Nguyen Phu Trong and President Nguyen Xuan Phuc to invite President Joe Biden to visit Vietnam soon. President Biden thanked him and said he would arrange to visit Vietnam at a time that is suitable for both sides.

US - ASEAN relations create momentum for Vietnam - US relations US – ASEAN relations create momentum for Vietnam – US relations

TTO – The US – ASEAN Special Summit, to be held in Washington DC from May 12 to 13, in the context of the two sides facing many challenges after the pandemic, is expected to open up new directions for cooperation. specifically, in fact, for the benefit of the parties.

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