Technology and innovation cooperation takes centre stage at Vietnam-US business forum

The morning of September 18 (local time) in San Francisco of California saw Prime Minister Pham Minh Chinh attend the Vietnam - United States business forum on Technology and Innovation co-operation, organised by the Ministry of Planning and Investment in collaboration with the Consulate General of Vietnam in San Francisco and the US - ASEAN Business Council.

Speaking at the event, PM Chinh recalled the process of developing mutual relations, emphasising that, during the recent state visit to Vietnam, US President Joe Biden and Party General Secretary Nguyen Phu Trong announced the upgrade of ties between the two countries to that of a comprehensive strategic partnership. This represents a great effort of the two countries and people, including businesses, the Vietnamese Government leader emphasised.

Regarding the foundational factors for businesses to feel secure in their investment and development, PM Chinh outlined that the country is in the process of building a socialist democracy, a socialist law-governed state, and a socialist-oriented market economy.

Throughout that process, people are put at the centre as the goal, the subject, the driving force, and as a resource for development, without sacrificing justice, social security, or environment for mere economic growth.

After nearly four decades of reforms, door opening, and integration, the country has obtained significant achievements, duly becoming one of the world's top 20 largest international trade economies and one of the world's 40 largest economies, PM Chinh said. He added that the nation considers investors’ success as its own and hopes that with a good foundation and an upward trend in co-operation, enterprises of both countries will continue boosting collaboration.

He went on to suggest that US firms continue investing in the Vietnamese market and help the country to engage in global supply chains, especially in the areas of science - technology and innovation, thereby securing common wins and mutual benefits in the spirit of harmonising interests and sharing risks.

Both nations enterprises shared the view that the establishment of the comprehensive strategic partnership, with technology, innovation, and investment as agreed by PM Chinh and President Biden being a true new pillar for bilateral relations. It is hoped that this will be a strong turning point for the two business circles to boost investment co-operation.

They proposed the two Governments keep connecting the countries’ enterprises in producing and applying technology; developing innovation, semiconductor technology, remote sensing technology, artificial intelligence, and bid data; as well as training high-quality human resources for enterprises.

Welcoming their attention to the Vietnamese market, PM Chinh requested that Vietnamese and US enterprises take practical actions aimed at helping implement the comprehensive strategic partnership, thereby generating greater benefits for both countries and peoples.

He called on US businesses to help realise their country’s support for a strong, independent, resilient, and prosperous Vietnam, going on to suggest that they focus on fields such as trade, services, science - technology, innovation, digital technology, energy transition, the circular economy, and the sharing economy.

The Vietnamese Government welcomes all enterprises coming to invest or conduct business in line with law and in a stable and effective manner, he went on, describing it as the best way to heal the wounds, set the past aside, and work towards the future.
           
At the forum, PM Chinh and other delegates witnessed the exchange of co-operation agreements between some Vietnamese and US firms.