Speaking at a roundtable with US businesses in Hanoi on March 1, the Vietnamese Government leader reaffirmed Vietnam’s three key commitments to foreign investors and urged US firms to embrace a “three-shared” approach -listening and understanding, sharing vision and action, and collaborating for mutual success.

The discussion aims to assess the current situation, identify challenges and opportunities for cooperation and investment, and boost rapid and sustainable development in partnership with US enterprises.

The US is currently Vietnam’s second-largest trading partner, a key export market, and a leading investor. Meanwhile, Vietnam ranks as the US’s seventh-largest trading partner. A growing number of top-tier US companies, including Ford, Boeing, SpaceX, Coca-Cola, Warburg Pincus, Pacifico Energy, Gap, Mastercard, Meta, Google, Amkor Technology, and Nvidia, are expanding their presence in Vietnam, showing their confidence in the country’s market potential. Their investments have made remarkable contributions to Vietnam’s economic growth.

During the roundtable, representatives from the US Embassy, the American Chamber of Commerce in Vietnam (AmCham Vietnam), and US business leaders expressed optimism about the positive trajectory of Vietnam-US relations, especially following the upgrade of bilateral ties to a Comprehensive Strategic Partnership.

US businesses greatly valued Vietnam’s efforts to enhance competitiveness and create a fair, transparent business climate. They recognized the government’s commitment to stepping up efforts to streamline administrative procedures, and proactively engag with businesses to remove obstacles. Many expressed interest in expanding their operations in Vietnam, particularly in technology, big data, semiconductors, artificial intelligence, finance, aviation, automotive, energy, apparel, food processing, manufacturing, and trade.

At the same time, US companies called for further administrative reforms, greater flexibility in work permits, judicial record certificates, visas, and residency cards, as well as reduced processing times and compliance costs. They urged Vietnam to eliminate unnecessary business conditions, introduce more favorable tax and fee policies, simplify regulations, and invest in modern, integrated infrastructure to enhance business efficiency and sustainability.

Following discussions with ministry and local leaders on US business concerns and proposals, Chinh acknowledged their deep understanding of Vietnam’s business environment and their commitment to expanding investment. He encouraged US firms to maintain direct collaboration with Vietnamese ministries and agencies to deal with issues, emphasizing the government’s commitment to creating an optimal investment climate.

Reaffirming the government’s role as a facilitator and businesses as key drivers of growth, PM Chinh urged US companies to contribute policy recommendations to relevant agencies. He directed ministries and agencies to prioritize efficiency, assign clear responsibilities, and take decisive action to address business challenges within their mandates.

In response to global and bilateral challenges, as well as the unique historical ties between Vietnam and the United States, Prime Minister Chinh called for adaptable and effective strategies in business and diplomatic relations.

Despite the strong momentum in Vietnam-US economic and trade relations, he noted that US investment in Vietnam has yet to reach its full potential. He asked US businesses to expand investment in key sectors such as science and technology, innovation, and digital transformation.

He also highlighted Vietnam’s ongoing challenges, including the lingering effects of war, its economic transition, and high economic openness but limited resilience. Given these factors, he called for greater US engagement based on a principle of “harmonized benefits, shared risks,” ensuring balanced interests among the state, businesses, and the people.

Discussing Vietnam’s economic achievements and the contributions of US businesses, the Vietnamese Government chief reiterated Vietnam’s goal of achieving 8% GDP growth in 2025, paving the way for double-digit growth in the years ahead. He called on US enterprises to join Vietnam in reaching these objectives, benefiting both sides and strengthening the Comprehensive Strategic Partnership.

Chinh reaffirmed Vietnam’s commitment to three strategic breakthroughs: improving the legal framework, developing infrastructure, and enhancing high-quality human resources. These efforts will be guided by the principles of “transparent institutions, seamless infrastructure, and smart governance and workforce.” He also pledged to further improve the business environment to ensure fairness and openness for all economic players.

He called on the US government and businesses to support Vietnam’s growth by increasing high-quality investments, transferring advanced technology, and training Vietnamese talent, particularly in emerging industries such as semiconductors, artificial intelligence, cloud computing, the Internet of Things, photonics, quantum technology, biotechnology, new materials, and pharmaceuticals.

Underlining the importance of business connectivity, PM Chinh urged US firms to integrate Vietnamese enterprises into US supply chains, consider Vietnam a key investment hub, operate transparently and responsibly, and contribute to Vietnam’s social programs. He also incentivized them to provide policy recommendations, advocate for Vietnam’s recognition as a market economy, and support its removal from the US high-tech export control list (D1-D3) in line with bilateral ties.

The Vietnamese government, he affirmed, is committed to ensuring that the foreign-invested sector remains an integral part of the Vietnamese economy, safeguarding the legitimate rights and interests of investors and businesses, and maintaining political stability, social order, and policies in line with Vietnam-US relations under a harmonized institutional framework.

In return, PM Chinh called on US businesses to adopt the ‘Three Together’ approach, which emphasizes mutual understanding between businesses, the government, and the people; shared vision and coordinated actions; and shared prosperity, success, and well-being.

He expressed confidence that US businesses will continue expanding their investment and operations in Vietnam, further strengthening the Vietnam-US Comprehensive Strategic Partnership in a substantive and effective manner. This will serve as a meaningful celebration of the 30th anniversary of normalized diplomatic relations, ushering in a new phase of deeper and more fruitful cooperation that benefits both nations and contributes to a better world, he added.

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