Prime Minister Nguyen Xuan Phuc: Vietnam-US trade turnover reaches over 55 billion USD
The Prime Minister congratulated US businesses on their many successes in business operations in Vietnam, creating prestige among the people and business community in Vietnam.
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| Prime Minister Nguyen Xuan Phuc attends the group dialogue session. Photo: Thong Nhat/VNA |
Prime Minister Nguyen Xuan Phuc expressed his pleasure at meeting US businesses in Papua New Guinea and congratulated the successes of US corporations and businesses globally.
The Prime Minister said that over the past time, the US-ASEAN Business Council (USABC) has closely worked with Vietnam, supporting Vietnam in promoting cooperation between businesses of the two countries, thereby contributing to balancing trade between Vietnam and the United States.
The Prime Minister also said that US businesses have invested over 12 billion USD in Vietnam; bilateral trade turnover has reached over 55 billion USD. Notably, the trade volume between the two countries has increased 35 times in the past 18 years; in which, the export growth rate of the US to Vietnam has increased by 37%, the highest in recent years.
On that basis, the Prime Minister affirmed that Vietnam and the United States still have a lot of room for cooperation, especially in business, investment and trade. The Vietnamese Government is ready to listen to the recommendations and dialogue of US investors in the process of doing business in Vietnam.
At the reception, the US business delegation expressed their pleasure to meet Prime Minister Nguyen Xuan Phuc again; expressed their desire to continue expanding investment in Vietnam in areas such as: people's health care, development and application of high technology in product quality control processes; building animal feed factories to ensure food safety to support Vietnamese farmers to increase economic value in livestock farming...
Enterprises in the delegation also discussed with the Prime Minister and leaders of Vietnamese ministries and branches about a number of policies and State management documents of the Government in many fields such as health, agricultural development, animal husbandry, tobacco production; expressed the desire to have more dialogue with functional agencies, especially State management agencies in each field of Vietnam.
US businesses also said they are ready to send US experts and scientists to Vietnam to participate with the Government in building State management policies for a number of specific fields and industries.
Welcoming US businesses wishing to expand their investment in Vietnam, Prime Minister Nguyen Xuan Phuc affirmed that in the spirit of continuous deep integration into the international economy, the Vietnamese Government always creates favorable conditions for foreign investors to invest and do business in Vietnam, including US investors.
Along with that, Vietnam has also constantly revised and supplemented institutions and policies in accordance with international practices, especially in compliance with trade agreements that Vietnam has participated in, most recently the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), opening up great opportunities for foreign investors to come to Vietnam.
The Prime Minister stated that the Government and relevant ministries and agencies of Vietnam always listen to investors' opinions, especially those that criticize policies, so that the Vietnamese Government can continue to remove barriers to investment, production and business activities of enterprises.
The Prime Minister called on and believed that US businesses will continue to expand investment, production and business and continue to reap many successes in Vietnam./.
