PM Dung made the commitment during his separate meetings with leaders of leading US groups in Washington DC on April 14, which was jointly organised by the US Chamber of Commerce and the US-ASEAN Business Council.

He said, as a developing nation with limited socio-economic infrastructure and potential domestic market, Vietnam has mobilised all resources available to develop its infrastructure, especially in transport, energy, irrigation, health care and education sectors, along with boosting its production and exports.

As a result, Vietnam successfully managed to keep inflation at 6.52 percent and record an economic growth rate of 5.32 percent in 2009, while foreign direct investment reached US$21 billion and the pledged official development assistance exceeded US$8 billion for the 2010 fiscal year, PM Dung stressed.

Regarding future development directions, the PM said Vietnam is introducing a range of strategic solutions to lay a foundation for its rapid and sustainable growth, focusing on completing market economy institutions, creating an equal competition environment for all economic sectors, facilitating production and business activities, and accelerating its international economic integration.

The country will take full advantage of all resources available to upgrade its infrastructure, develop human resources, especially high-quality personnel, promote the application of scientific and technological advances, speed up administrative reforms, and strengthen the state management capacity, he noted.

In terms of investment incentives, the Government leader stated that Vietnam will continue to improve its environment to attract more foreign investment, with priority given to hi-tech projects, support industry, human resources and infrastructure development, farm produce processing, service industries with high added value and sectors that contribute greatly to the country’s exports and help ensure social security, environmental protection and national security.

The governments of Vietnam and the US have set up a ministerial-level Trade and Investment Framework Agreement (TIFA) Council, which serves as a forum for the two nations to discuss issues related to trade and investment policies and the implementation of commitments to the Bilateral Trade Agreement (BTA) and the World Trade Organisation (WTO).

The two countries are now negotiating the Bilateral Investment Treaty (BIT) and the Trans-Pacific Strategic Economic Partnership Agreement (TPP), the PM added.

Executives of US companies said they will continue to invest in Vietnam, particularly in information technology, finance, banking, infrastructures, education and training.

They urged the Vietnamese Government to iron out snags regarding transport systems, seaports, energy, skilled workforce, and administrative procedures to facilitate their long-term business in the country.

Despite negative impact of the global economic-financial crisis, two-way trade between Vietnam and the US reached US$15 billion in 2009, 10 times higher than 2001.

The US now has more than 500 valid projects with a combined registered capital of over US$15 billion, ranking 6^th among 90 countries and territories investing in Vietnam. Last year alone, US investors registered to pour US$9.8 billion into Vietnam – the largest amount by foreign firms.