Deputy PM discusses trade, investment ties with US officials

Deputy PM Vuong Dinh Hue (R) and US Secretary of Commerce Wilbur Ross - Credit: MOFA

During the meeting, Deputy PM Hue stressed that economic, trade and investment cooperation is a focus and driving force behind the Vietnam-US relationship, affirming that Vietnam wishes to promote free trade while actively implementing agreements between the two countries and settling any existing problems.

He urged the US to deal with matters of Vietnam’s concern such as the recognition of Vietnam’s market economy, anti-dumping and anti-subsidy lawsuits against Vietnamese products such as shrimp, washing machines, solar panels and woven sacks, as well as the exemption of tariffs on Vietnam’s steel and aluminium products.

The US officials said that US President Donald Trump appreciated Deputy PM Hue’s visit and the US recognized that Vietnam had understood the US’s concerns and has taken specific measures to bolster trade ties between the two countries.

They held that there is vast potential and strong prospects for collaboration between the two countries, expressing hope that the Government of Vietnam will continue creating favorable and fair conditions for US enterprises in accessing the Vietnamese market.

They also pledged to push for discussions of Deputy PM Hue’s proposals in relevant agencies of the US.

The same day, at a meeting with Ambassador Charlene Barshefsky, a former US Trade Representative who signed the Vietnam-US Bilateral Trade Agreement in 2000, Deputy PM Hue lauded important contributions that Barshefsky has made to the progress of bilateral ties...

For her part, Barshefsky showed her delight at the development of the Vietnam-US partnership, especially in economy, trade and investment. She said that Vietnam is one of the most important partners of the US in Southeast Asia, adding that she believes that the US Government hopes to further develop its friendly cooperation with Vietnam.

She also hailed Vietnam’s efforts to collaborate with the new administration of the US, focusing on dialogues on issues of shared concern, thus facilitating the partnership between the business communities of the two countries.

Earlier, on June 25, the Vietnamese Deputy PM attended a round-table held by the US Chamber of Commerce gathering nearly 50 leading US firms.

Addressing the event, Deputy PM Hue welcomed US enterprises looking to invest in Vietnam, affirming that the Vietnamese Government has improved its business and investment environment to create favourable and fair conditions for all foreign investors, including those from the US.

He lauded US businesses’ operations in Vietnam which has helped create jobs and promote high quality “made-in-Vietnam” products.

He called for more US investment in Vietnam, especially in areas of high-technology, energy, infrastructure, smart city, education and training, finance-banking, health care, service, innovative start-ups, and in the equitisation of State-owned enterprises.

At the event, Myron Brilliant, Executive Vice President of the US Chamber of Commerce and Managing Director and Global Head of External Affairs of Carlyle Group thanked the Government of Vietnam for supporting US businesses in operating in Vietnam. They also committed to continue engaging in social activities in Vietnam.

Also on June 25, Deputy PM Hue delivered a speech at a conference on investment potential and opportunities in Vietnam held by FLC Group with the participation of hundreds of Vietnamese and US enterprises, investment funds, financial organisations and financial management companies.

He congratulated the FLC Group on its signing of a contract to buy 20 Boeing 787-9 Dreamliners worth US$5.6 billion.