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May 13, 2023 / 10:35

Vietnam sees Boeing as long-term partner in aviation development

Boeing is committed to long-term investment in Vietnam in support of the development of the country's aviation industry.

The Vietnamese government views Boeing as a long-term partner in developing the local civil aviation industry.

 Prime Minister Pham Minh Chinh and Vice President of Boeing and President of Boeing Global Brendan Nelson. Source: VNA

Prime Minister Pham Minh Chinh made the remarks during a meeting with Boeing Vice President and President of Boeing Global Brendan Nelson today [May 12].

Recalling his meeting with Boeing leaders in Washington D.C. during the ASEAN-US Summit in May, as well as subsequent discussions with company representatives as part of a recent US business delegation to Vietnam, the Prime Minister praised Boeing's plans for long-term collaboration with Vietnam and expressed his appreciation for the company's decision to establish a representative office in the country.

Chinh reiterated that Vietnam always considers the US as one of its most important partners; welcomes the US’s support for a strong, independent, self-sufficient, and prosperous Vietnam.

He said the US is an important partner for Vietnam and welcomed the US support for Vietnam to become strong, independent, self-sufficient, and prosperous.

"Vietnam seeks to bring the Vietnam-US comprehensive partnership to a more substantial, stable, and profound level based on respect for the country's independence, sovereignty, territorial integrity, and political institutions," Chinh said, adding that economic and trade relations play a crucial role in advancing the comprehensive partnership between the two countries.

For his part, Nelson thanked Prime Minister Chinh for taking the time to meet with him and acknowledged Vietnam's important position in the ASEAN region.

With a growing economy of 100 million people and several free trade agreements with major markets around the world, Vietnam is an important part of Boeing's business strategy, he said. Nelson assured that Boeing will continue to invest and expand its cooperation with Vietnam, contributing to promoting economic cooperation between Vietnam and the US.

Chinh reiterated Vietnam's unwavering policy of ensuring political, economic and social stability while prioritizing sustainable development through scientific progress, innovation, digital transformation, and improving market economy institutions.

He noted that the goal is to build an independent, self-sufficient Vietnamese economy and actively integrate with the world in a comprehensive and effective manner, while continuously improving the business environment.

Vietnam remains receptive and attentive to the feedback and views of foreign companies, including those from the US, to facilitate their expansion in the country, Chinh said.

Chinh emphasized that Vietnam considers Boeing an important and enduring partner in the development of the country's civil aviation industry, and highly appreciates Boeing's flexible approach to fulfilling aircraft supply agreements for Vietnamese airlines during the Covid-19 pandemic and instability in the global aviation industry.

Vietnam has emerged from years of war and is currently undergoing economic transition and development. After more than three decades of renovation, the Vietnamese economy has reached a size of more than US$400 billion, with a GDP per capita income of more than US$4,000. Vietnam has signed free trade agreements with more than 60 economies worldwide, and its trade turnover is expected to exceed $700 billion in 2022.

The construction of airports in various provinces and cities serves as a foundation for socio-economic development and provides favorable conditions for the growth of the aviation industry. Therefore, the Prime Minister recommended that Boeing adopt a long-term investment strategy in Vietnam based on the principles of "win-win", "harmonious benefits" and "shared risks".

He requested that Boeing offer preferential policies for the Vietnamese market and continue to support Vietnamese airlines in their fleet development plans with a long-term vision.

Boeing was urged to meet the delivery dates in the signed contracts and improve the negotiation terms for new ones. Chinh also asked for Boeing's support in aviation safety, flight operations management and airport operations management, as well as the development of the aviation ecosystem in Vietnam by establishing more facilities and partners to provide components, technical services, warranty, and maintenance in the country.

Nelson agreed with the Prime Minister's remarks and proposals and pledged to make long-term investments in Vietnam to support the development of the country's aviation industry.

Boeing on May 12 inaugurated its new permanent office in Hanoi further strengthening its commitment to Vietnam.

“Boeing’s relationship with Vietnam is growing in strength as we partner to develop the country’s aerospace capabilities. Our new office will enable us to better serve our local customers and stakeholders while creating a strong foundation for future growth,” said Michael Nguyen, Country Managing Director, Boeing Vietnam.

The office located in a LEED-accredited building has been developed with operational environmental performance in mind and is positioned to maintain a net-zero future through energy and water conservation efforts.