On the morning of November 12, in Hanoi, the Vietnam Federation of Commerce and Industry (VCCI) in coordination with the American Chamber of Commerce in Hanoi (AmCham) and the American Chamber of Commerce in Washington D.C (US Chamber) organized the 8th Vietnam - US Business Summit with the theme: "New era of development for mutually beneficial trade relations".
Speaking at the conference, Deputy Prime Minister Bui Thanh Son affirmed that Vietnam always attaches importance to promoting fair and mutually beneficial economic and trade cooperation with the US. In a turbulent world, only trust can create cooperation and only cooperation can lead to prosperity and only prosperity can create a sustainable future.
Referring to the Vietnam - US cooperation relationship, the Deputy Prime Minister stated that 2025 will mark the 30th anniversary of the establishment of diplomatic relations between Vietnam and the US. An effortsome journey to turn the bilateral relationship from forward to partner; at the same time,marize 5 key phrases to talk about the Vietnam - US relationship, which is: Reliance in strategy, comprehensive cooperation, mutual development, responsible partners and creating a future.
At the conference, Deputy Prime Minister Bui Thanh Son proposed 5 major orientations for businesses of the two countries to strengthen cooperation, for the benefit of the people of the two countries and strengthen strategic partnerships.
Enterprises of the two countries promote cooperation in semiconductors and high technology: In particular, the two sides need to cooperate in developing the semiconductor ecosystem, R&D center, data center and artificial intelligence (AI) in Vietnam.
Enterprises of the two countries cooperate in clean energy and green growth: In which cooperation in developing offshore wind power, solar power, hydrogen, energy storage and smart grid, supporting Vietnam to achieve the goal of net zero emissions by 2050.
Cooperate on strategic supply chains, develop flexible, diverse, sustainable supply chains, promote smart logistics region connections to reduce transportation costs, expand cooperation between Vietnamese enterprises and chains such as Walmart, Costco to connect Vietnamese goods with the global value chain.
Cooperate on innovation and digital transformation, promote digital trade, digital services, cross-border electronic payments; cooperate on AI, cyber security, cloud computing.
Cooperate in education, training and technology transfer, focusing on training technology engineers, semiconductor experts, global governance, connecting universities and research institutes of the two countries.
The Deputy Prime Minister suggested that the US business community continue to have a positive voice so that the US Government can soon recognize Vietnam as a full market economy, in line with Vietnam's development practices, legal environment and international integration commitments; and mobilize the US Government to soon remove remaining restrictions on high-tech exports to Vietnam (according to regulations in groups D1 and D3 of the US Department of Commerce) to strengthen strategic trust and promote economic and trade cooperation, especially high-tech science.
At the opening session, US Assistant Secretary of State Michael DeSombre emphasized that Vietnam has great potential to attract foreign direct investment. US businesses are ready to maintain their leading role as key investors and partners of Vietnamese businesses. He also affirmed Vietnam's strategic role in ensuring global economic security and a sustainable supply chain through diversification and cooperation.
