Vietnam desires stronger economic ties with US

VOV.VN - Vietnamese leaders always support stronger trade and economic ties with the US and are ready to create a transparent and favourable business climate for foreign firms, including those from the US.

National Assembly Vice Chairman Phung Quoc Hien made the statement at a July 31 reception for President of Ford ASEAN Mark Kaufman in Hanoi.

At the meeting, Hien congratulated Ford Motor Company and Ford Vietnam on their recent achievements, saying Ford products have become more popular in the Vietnamese market.

He told his guest that he hopes these successes will give fresh impetus broader cooperation prospects between Vietnam and the US, particularly in economic and trade partnership.

Kaufman, in turn praised Vietnamese leaders' efforts to help businesses through preferential policies aimed at developing a sustainable automobile industry.

He said the local automobile industry will undergo a drastic change in 2018, when Vietnam opens its market as committed to the ASEAN Free Trade Area.

The opening of the market will generate higher competition pressures for auto makers, including Ford, he noted.

Kaufman asked Vietnamese authorities to consider special consumption taxes on pickup trucks as well as tariffs on auto components imported from outside the ASEAN region to ensure the vigorous growth of the automobile market.