Prime Minister Le Minh Hung affirmed that Vietnam does not have a policy of creating excess capacity

Thanh Hà |

Prime Minister Le Minh Hung affirmed that Vietnam does not have a policy of creating excess capacity, and Vietnamese businesses operate according to market mechanisms.

On May 20, at the Government Headquarters, Politburo Member, Prime Minister Le Minh Hung received Ambassador Rick Switzer, US Deputy Trade Representative.

At the reception, Prime Minister Le Minh Hung welcomed the positive results achieved in negotiating the Vietnam - US reciprocal, fair and balanced trade agreement; highly appreciated the role of the US Trade Representative Office and Ambassador Switzer personally.

Prime Minister Le Minh Hung affirmed that the Vietnamese Government will continue to closely coordinate with the US side to ensure that the two sides soon complete the agreement, thereby further deepening economic, trade and investment cooperation, which is the main driving force promoting the relationship between the two countries; emphasized that the Vietnamese Government always welcomes and is ready to create the most favorable conditions for US businesses to continue to expand investment and do business effectively and successfully in Vietnam, contributing to Vietnam's development goals.

Prime Minister Le Minh Hung affirmed that Vietnam does not have a policy of creating surplus capacity, Vietnamese businesses operate according to market mechanisms. The two economies are complementary, not directly competing with each other.

Vietnamese law strictly prohibits all forms of forced labor. Vietnam actively participates and implements relevant international commitments, including the conventions of the International Labor Organization (ILO) and free trade agreements (FTAs).

Resolutely combating and strictly handling violations of intellectual property rights is Vietnam's priority, associated with innovating the development model, implementing Resolution 57-NQ/TW on breakthroughs in science and technology development, innovation and digital transformation.

Highly appreciating the positive results in the relationship between the two countries, including the economic and trade sector in the past time, Ambassador Switzer emphasized that Vietnam is one of the top important partners of the United States, in which economic and trade cooperation makes a positive contribution to the overall development of relations between the two countries.

Emphasizing the importance of the Trade Agreement corresponding to economic and trade cooperation between the two countries, Ambassador Switzer highly appreciated the positive and goodwill cooperation of ministries, sectors, and the Vietnamese Government negotiating delegation in the past time; affirmed that the US Trade Representative Office and he personally will continue to closely coordinate with ministries and sectors of the Vietnamese Government, making every effort to ensure that the two sides reach an agreement soon, making positive contributions to the further development of the relationship between the two countries in the future.

Thanh Hà
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