Hanoi actively calls for investment from the USA

By Tuan Minh

Mar 24, 2016 / 12:07 PM

On March 23, Ministry of Foreign Affairs and Hanoi People`s Committee co-organized the event of "Meet the USA", with the presence of representatives from several agencies, localities and enterprises of the two countries. Chairman of Hanoi People`s Committee Nguyen Duc Chung attended the event.

Chủ tịch UBND TP Nguyễn Đức Chung phát biểu tại buổi Tọa đàm.

City Chairman Nguyen Duc Chung made speech at the roundtable

Speaking at the roundtable, City Chairman Nguyen Duc Chung said that the city wants economic cooperation, investment and bilateral trade to be in depth, bringing practical results. It is also appropriate purposes in the context of both countries signed the Agreement on the Trans-Pacific partnership (TPP) as well as determining the bilateral comprehensive partnership. Hanoi is the center of economy and trade hub of the northern region and the country; where there is a lot of potentials, resources for international economic cooperation. City leaders actively promote the process of international integration, focus on improving competitiveness through administrative reform, creating favorable business climate to attract investment.

Views of the roundtable

Chairman of Hanoi People's Committee also confirmed to be willing to introduce portfolio investment demand, especially in fields of high technology, education, industrial development and supporting industry, International medicine and modern services, etc. that has been the strength of US businesses. In order to actively participate in global value chains. The City will focus on improving the situation, improving the system of infrastructure, improving the business environment and enhancing the quality of human resources to meet the requirements of investors. However, the results of cooperation between the two sides is not commensurate with the potential, should have the determination and strong changes in the near future.

Chung said, the city always regarded the United States as one of the most reliable trade and investment partners. However, the bilateral relationship has failed to match each other's potential. Chung called on US companies to make further investments in a wide range of sectors including banking and finance, software development, electronics, and IT, in addition to support industries and environment protection.

City Chairman Nguyen Duc Chung exchanged with delegates attending the seminar

At the roundtable, Deputy Minister of Foreign Affairs Le Hoai Trung and US Ambassador Ted Osius appreciated the initiative of organizing the seminar, said that this is a good opportunity for both sides to learn, exchange and cooperation; expressed his pleasure at the fine development of the relations and multifaceted cooperation between Vietnam and the US in recent years, of which the highlight is the two-way trade continued growth above 20% in recent years, reaching more than 45 billion dollars in 2015.

Deputy Minister of Foreign Affairs Le Hoai Trung also stressed that the relationship between Vietnam and the United States is developing strongly and positively, facing new opportunities to strengthen the comprehensive cooperation between the two countries following the historic US visit of General Secretary Nguyen Phu Trong in July, 2015 and in the context of President Barack Obama to visit Vietnam in the coming time.

Deputy Minister Trung said that it was the right time for two business communities to expand their cooperation. Trung added that enterprises from the two nations could supplement each other, especially Vietnamese firms who desired to receive funding and update hi-end technologies from their US counterparts that could help them gradually penetrate the global value chain.

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