Hanoi promises favorable conditions for US investors

Hanoi is committed to creating favorable conditions for US businesses to expand investment in Vietnam, ultimately contributing to the bilateral relationship between the two countries.

Hanoi's Mayor Tran Sy Thanh and Oakland's Mayor Sheng Thao. Photo: The Hanoi Times

Chairman of the Hanoi People's Committee Tran Sy Thanh made the remarks today [July 31] during a meeting with a California business delegation led by Oakland Mayor Sheng Thao.

During the meeting, Thanh expressed pleasure in welcoming the Mayor of Oakland and representatives of California businesses. He emphasized that 2023 marks a significant milestone of 10 years since the establishment of the Vietnam-US Comprehensive Partnership.

"Given the robust and sustained development of trade relations between the two countries, Hanoi is committed to strengthening cooperation with US partners," Thanh said.

Thanh added that at this critical stage of development, Hanoi is actively revising the Capital Law and has laid out a comprehensive plan for the city's development through 2045, with a vision to 2065.

"The city has identified several priority sectors and areas to attract investment, aligning with global development trends and leveraging the capital's strengths and neighboring provinces and cities. Key areas include real estate, commercial infrastructure, high-tech industries, and green initiatives to reduce energy consumption," he said.

In its quest for progress, Hanoi is placing special emphasis on promoting investment in areas that promise to add value in the near future, such as agriculture, tourism, education, healthcare, and key industries such as high-tech projects, supporting industries, and bio-industry. These strategic efforts are aimed at accelerating Hanoi's growth and enabling it to participate in the global value chain actively, Thanh added.

Thanh expressed his willingness to cooperate with and support US investors and businesses to create a conducive environment for new projects in the region. The goal is to promote bilateral relations and local development.

Oakland Mayor Sheng Thao agreed with the Chairman's remarks and suggestions and expressed optimism that cooperation between the two countries and their respective regions will yield fruitful results in the future.

At the meeting, American companies highlighted Oakland's strengths in ports, waste management, and clean technology development.

They also mentioned California's substantial investment in emission reduction and progress in transportation, including road, sea and air.

The US delegates expressed their hope to find common ground between the needs and development potential of both sides and discover specific investment and cooperation opportunities with the capital and pave the way for fruitful partnerships.