Vietnam eyes larger scale US investment
US firms expressed confidence that Vietnam will remain an attractive destination, and affirmed their commitment to long-term cooperation and investment.
THE HANOI TIMES — Vietnam has called on the US business community to seize the moment, expand their presence and invest on a larger scale.
Vietnam's President Luong Cuong at the event. Photos: VNA
State President Luong Cuong delivered this message at a dialogue with US companies on September 23 (local time) in New York during his participation in the General Debate of the 80th UN General Assembly and related bilateral activities.
The event brought together leaders of major US corporations, including Vantive, Amazon, Apple, AES, Amway, Boeing, Excelerate Energy, Warburg Pincus, The Asia Group, Excel Services Corporation, Atlas Air, Meta, and The Coca-Cola Company.
Addressing US businesses, Cuong urged them to broaden their footprint in Vietnam through deeper and more ambitious investments, with a view to building a new era of cooperation that is both promising and sustainable.
“The Vietnamese Government is committed to creating the most favorable conditions for American investors to choose Vietnam as a long-term destination and to jointly shape a prosperous and sustainable future,” said Cuong.
Nearly 40 years after Doi Moi (Renewal), when Vietnam was an underperforming economy with a per capita income of less than VND2.4 million (US$100) in 1986, the country has risen to join the world’s top 32 economies, with trade volume among the top 20 globally. Vietnam has signed 17 new-generation free trade agreements, building a network of ties with over 60 major economies worldwide.
The state president underscored that the history of Vietnam–US relations over the past 30 years demonstrates a journey of reconciliation and trust-building, with economic, trade, and investment cooperation serving as the cornerstone.
Representatives of major US corporations at the event.
Last year, bilateral trade reached nearly $140 billion, while many leading US companies have already operated successfully in Vietnam.
Looking ahead to 2045, Vietnam aims to become a high-income nation. To realize this vision, the country has been reforming its institutions, upgrading human capital, and building infrastructure as core drivers of growth.
Vietnam has also completed the restructuring of two levels of local government since July 1, ensuring a leaner and more efficient system.
Major laws, including the Investment Law, the Enterprise Law, and the Land Law, have been revised to provide a transparent and open business environment for investors.
At the same time, the government is implementing a national digital transformation strategy, streamlining administrative procedures, building e-government, and advancing innovation, the green economy and renewable energy.
At the dialogue, US corporate representatives praised Vietnam’s development strategy for the new era, expressed confidence that Vietnam will remain an attractive destination, and affirmed their commitment to long-term cooperation and investment.
