General Secretary of the Communist Party of Vietnam Central Committee and President To Lam proposed three pillars of cooperation with US businesses while attending a roundtable with leaders of major US firms in New York on September 23 (local time), as part of his trip to attend the high-level general debate of the 81st session of the United Nations General Assembly and conduct bilateral activities in the US, according to the Vietnam News Agency.
At the event, the top Vietnamese leader highly valued the views and proposals put forward by leaders of US corporations in science and technology, advanced manufacturing, energy, infrastructure, finance and investment.
He said the practical recommendations demonstrated the continued interest, confidence and expectations of the US business community in Vietnam.
He stressed that bilateral economic cooperation should move beyond expanding the scale of trade and investment to improving the quality of collaboration, technological content, productivity, innovation capacity and the participation of businesses from both countries in strategic value chains.
Against this backdrop, the Vietnamese leader outlined three pillars for cooperation, with the first focusing on jointly developing science and technology, innovation and industrial competitiveness. He said Vietnam regards science and technology, innovation and digital transformation as key drivers of development in the coming period. At the same time, the country attaches importance to the quality of investment capital, accompanying technologies, research and development (R&D) capacity, workforce training, management expertise and linkages with Vietnamese enterprises. He called on US corporations to work with Vietnam to build technological capabilities, train engineers, experts and managers, and support Vietnamese enterprises in becoming suppliers in global value chains.
The second pillar is cooperation in energy, infrastructure and green, resilient growth. The leader stressed that energy development should not only increase capacity but also ensure energy security, reasonable costs and competitiveness. Infrastructure development should strengthen connectivity among economic regions, production centres, seaports, airports and international markets, while the green transition should create new industries, technologies and business opportunities.
Regarding the third pillar - the development of financial and capital markets capable of supporting a new phase of growth, General Secretary and President Lam said that Vietnam is promoting capital market development and establishing its international financial centre in Ho Chi Minh City and Da Nang. It is also encouraging long-term investment, venture capital, green finance and specialised investment funds.
US financial institutions, he noted, can contribute experience and expertise in market development, risk management and the ecosystem for long-term investment. The top leader urged US businesses to view Vietnam not only as a production base but also as a rapidly growing consumer market and a gateway to the ASEAN market of around 680 million people.
Vietnam is ready to increase imports of US technology products and services, while calling on the US to facilitate fair and transparent market access for Vietnamese goods and businesses, he said.
General Secretary and President Lam also expressed his wish that the business community will make objective contributions to promoting a stable, fair and predictable trading environment.
He affirmed that Vietnam will continue to improve institutions, streamline administrative procedures, protect the legitimate rights and interests of investors, ensure fair competition and address bottlenecks in a substantive manner. Vietnam will also increase investment in the foundations of a modern economy, including high-quality human resources, stable energy supplies, transport and logistics infrastructure, digital infrastructure, capital markets and an innovation ecosystem.
Welcoming investment by major technology corporations, particularly in artificial intelligence (AI), he said Vietnam is determined to gain access to advanced AI technologies, enter a new stage of development, and promote responsible AI development and use for people, businesses and organisations.
The leader urged business associations such as the US-ASEAN Business Council and the American Chamber of Commerce (AmCham) to continue serving as bridges between businesses and Vietnamese authorities, turning ideas into concrete projects and linking practical business requirements with policymaking.
Following the roundtable, General Secretary and President Lam witnessed the exchange of contracts and cooperation agreements between Vietnamese and US agencies and businesses in digital transformation, high technology, AI, aviation, green energy, healthcare and telecommunications.
Source: VnEconomy
