PM seeks additional US investment in Vietnam

Vietnam considers the US one of the most important partners and wishes to develop the ongoing comprehensive partnership with the US, especially in economics, trade and investment, Phuc told Adam Boehler, chief executive officer of the US International Development Finance Corporation (DFC) at a reception in Hanoi on October 26.

He noted two-way trade turnover between Vietnam and the US has increased more than 170 times since 1995. Many US businesses are operating successfully in Vietnam, making the US one of the 10 leading investors in the country.

The Prime Minister affirmed that the Vietnamese Government supports and accompanies the business communities of the two countries in connecting and improving investment efficiency. Ministries, branches and localities creates favourable conditions for US businesses to invest and do business in Vietnam.

To this end, the PM proposed the DFC soon invest in large projects such as the North - South Expressway and Long Thanh air terminal in southern Vietnam.

The Government leader emphasized that Vietnam attaches great importance to and highly appreciates the US’ active participation in the US-Mekong Partnership. The DFC’ss expansion into the Mekong region will be the foundation for building a dynamic, resilient, and sustainable Mekong region and a strong ASEAN.

The Prime Minister proposed that Boehler have a say with US President Trump, the US Trade Representative (USTR) and relevant US agencies to assist Vietnam in implementing the action program towards harmonious and sustainable trade, while having a more objective assessment of reality in the country for proper cooperation and mutual benefit.

He also asked the DFC to work closely with Vietnamese agencies to identify investment opportunities in potential infrastructure and energy projects in Vietnam and the Mekong region.

For his part, Boehler emphasized the two countries have achieved very positive progress through ongoing energy cooperation projects. The DFC is also seeking for investment opportunities in the infrastructure sector in Vietnam, he said.

At the meeting, Kimberly Reed, Chairman and President of the US Export-Import Bank, who accompanied Boehler, expressed his desire to boost US exports to Vietnam. He said the US Congress has appreciated and endorsed a new tool for the bank to promote cooperation with other countries, including Vietnam. Areas that the US EximBank can finance include renewable energy, transportation, aviation, health, agriculture, and 5G technology among others

Meanwhile, representatives of the US Treasury Department said they hope to promote bilateral cooperation in the private economic sector. Representatives of the US Department of Commerce expressed their hope that the two sides will in the near future boost cooperation in aviation, medical services, and infrastructure development.