28 March, 2022 3:04 pm

Healthcare, digital commerce, energy and climate change will be three areas prioritized by US businesses to cooperate with Vietnam this year.

The above information was shared by Marisa Lago, Deputy Secretary of Commerce in charge of international trade, at the Vietnam-US Summit on the morning of March 8.

Marisa Lago commented, Vietnam has become a major trading partner, playing an important role with this country. According to her, there are currently more than 100 US experts ready to support businesses of the two countries in investment and two-way trade.

“I believe in great opportunities this year,” said Ms. Marisa Lago, referring to the three areas prioritized by US businesses to cooperate with Vietnam, including healthcare, digital commerce, energy and technology. climate change.

“We are developing a plan to bring American medical delegations to Vietnam. We are also ready to introduce the leading US corporations in the energy sector to you,” she added.

Prime Minister Pham Minh Chinh (center) attended the Vietnam – US Business Summit on the morning of March 8. Photo: VGP

Mr. Myron Brilliant, Executive Vice President and Head of International Affairs, American Chamber of Commerce, emphasized his approval of the Vietnamese goods being imported to the US.

“I don’t think the trade surplus figures will determine success or failure. However, I hope that American businesses will have more opportunities to access the Vietnamese market, “he said. He also expressed regret that the US has not yet joined the CPTPP.

Mr. Dean Garfield, Netflix’s Global Vice President of Public Policy, suggests that Vietnam will be one of the most innovative countries in Asia. He said, “Vietnam will succeed in its goal of promoting the economic role of the creative industry,” and later reveals that Netflix is ​​about to shoot its first original film in Vietnam.

In general, the business community’s representatives from the two countries agreed that the Vietnam-US trade and investment relationship still has great room for development. For the US, Vietnam is considered an important link in the global goods supply chain, and this relationship is expected to continue to grow in the coming years. On the other hand, it is clear that American companies and investors have contributed significantly to the transformation and growth of the Vietnamese economy.

“I am confident that the growth trend in trade and investment between the two countries will continue to be maintained,” said Adam Sitkoff, AmCham CEO.

Speaking at the conference, Prime Minister Pham Minh Chinh emphasized that the bilateral relationship between Vietnam and the US has been rapidly developing and has achieved significant results in various fields over the last 26 years.

As for economic cooperation, the US has always been one of the major partners of Vietnam. Specifically, in terms of trade, the bilateral trade turnover between the two countries has increased by about 250 times, from 450 million USD at the time of resuming normal trade relations in 1995 to more than 111 billion USD in 2021. This figure has increased by 21 billion USD compared to 2020, in just one calendar year, 2021, despite the prolonged COVID-19 epidemic and its negative impacts on the global supply chain.

The US is currently Vietnam’s second largest trading partner and largest export market, while Vietnam has recently risen to become its ninth largest trading partner.

Regarding investment, the US has nearly 1,150 active projects, with a total registered investment capital of more than 10.3 billion USD, ranking 11th out of 141 economies with investment in Vietnam.

“I am pleased with the results of Amcham’s 2021 business investment survey, according to which nearly 80% of AmCham Vietnam members have a positive perspective regarding the medium and long-term prospects in the Vietnamese market. The achievements in the last few years have once again confirmed the strong relationship between the two economies and the dynamism of businesses in both countries, “said Prime Minister Pham Minh Chinh.

Prime Minister Pham Minh Chinh also said that Vietnam is currently focusing on digital transformation, aiming to build a digital government, digital citizens, a digital economy, and a digital society. These are issues of great concern from the US investment perspective.

The Prime Minister said that Vietnam and the United States have great potential to solve existing problems and will continue to promote the development of relations between the two countries on the basis of “harmonious benefits – shared risks.”

Duc Minh. “Three Areas the US Prioritizes Investment in Vietnam This Year.” VNEXPRESS, 2022, vnexpress.net/ba-linh-vuc-my-uu-tien-dau-tu-tai-viet-nam-nam-nay-4436269.html. (Accessed Mar. 1, 2022)

Translated by: Pham Hoang Hung