US businesses keen to seize Vietnamese investment opportunities

Business representatives made the statement during an online meeting with the Business Council for International Understanding (BCIU) on April 14.

The event saw the Vietnamese Ambassador to the US Ha Kim Ngoc emphasise that despite challenges caused by the COVID-19 epidemic, mutual relations between the two countries have continued developing and have achieved a number of positive results across several sectors, particularly economics and trade.

The Vietnamese government has deployed a range of drastic measures in an attempt to promote bilateral trade relations in both a harmonious and sustainable manner. Most notably, medical co-operation has developed as a bright spot in relations as both nations strive to intensify the sharing of information and experience, whilst also providing mutual support in the fight against the COVID-19.

Vietnam has been working to produce protective clothing and medical equipment which can be used to boost the US’s supply. It also partnered with ASEAN member states to co-chair the ASEAN-US High Level Interagency Video Conference to Counter COVID-19 on April 1 as part of the country’s role as ASEAN Chair 2020.

Ambassador Ngoc affirmed that the Vietnamese government has exerted great efforts to fulfill the dual goal of both containing the epidemic and accelerating economic development in an effort to ensure social security.

For their part, US business representatives highlighted the success that Vietnam has achieved in preventing the spread of the COVID-19. They praised the country’s relentless efforts to promote international co-operation as a means of fighting the pandemic.

David Shear, former US Ambassador to Vietnam, and other representatives hailed the results of co-operation between the two countries in the field of health, notably epidemic prevention, while underlining the importance of boosting ties between Vietnam, ASEAN, and the US due to the global nature of the COVID-19.

Sean Mulvaney, representative of the P&G group, voiced his strong support for the Vietnamese government’s drastic actions to halt the spread of the COVID-19 epidemic and boost economic development, noting that the group has always worked alongside the country by contributing products and raising funds for the Vietnam Fatherland Front.

American enterprises also expressed a keen interest in the Vietnamese government's plan to restore production and business services in the near future. They voiced their optimism about the future opportunities of the Vietnamese economy once the epidemic is brought under control.

Business representatives raised plenty of questions regarding priority areas for investment and other forms of co-operation with the country moving forward.

Ambassador Ngoc has suggested that BCIU members can maintain their support for the country in battling the COVID-19 and seize upon any opportunities to expand investment in the country in the future, particularly in fields relating to energy, infrastructure, technology, and the digital economy.

The diplomat has asked major US corporations such as Medtronic, Gilead, and Bayer to step up co-operation with Vietnam to increase the production of medical equipment, especially ventilators, while sharing information regarding research, and both the testing of vaccines and medicine. 

The Ambassador also suggested that hi-tech giants like Google could play a vital role in spreading COVID-19 prevention stories and sharing related technologies to monitor the spread of the epidemic.