Prime Minister Nguyen Xuan Phuc hosted a reception in Hanoi on November 8 for US Secretary of Commerce Wilbur Ross and a US business delegation who are in Viet Nam for an official visit.

Prime Minister Nguyen Xuan Phuc (R) and US Secretary of Commerce Wilbur Ross (Photo: VNA)

Welcoming the guests to Viet Nam, PM Phuc hailed the efforts made by the US Secretary of Commerce to promoting Viet Nam-US trade and investment ties.

He stressed that Viet Nam always treasures the comprehensive partnership with the US and hopes to lift bilateral relations to a new level, thus contributing to peace, stability, cooperation and development in the region and the world.

He took note of the substantial progress across all fields in the bilateral relationship, particularly the stable growth of economic and trade ties which serves as an important driver of the relations between the two countries.

PM Phuc also appreciated the cooperation between the two countries in the framework of the Trade and Investment Framework Agreement (TIFA) to discuss economic and trade issues of mutual concern and promote two-way trade, thus helping remove difficulties for their enterprises.

He welcomed the close collaboration between Viet Nam’s Ministry of Industry and Trade and the US Trade Representative (USTR) in building a plan of actions towards harmonious and sustainable trade balance between the two countries.

The Vietnamese government leader pledged to create the best possible conditions to promote economic, trade and investment cooperation with the US, and open the market for US products.

He said Vietnam is carrying out equitisation of State-owned enterprises, which offers opportunities for US companies to become strategic partners of those enterprises.

The PM added that he hopes the US will send more business delegations to Vietnam in 2020 when Vietnam serves as Chair of the Association of Southeast Asian Nations (ASEAN).

Secretary Ross said the US business delegation accompanying him during this trip include representatives from many big corporations, who are interested in the Vietnamese market with great potential.

He remarked that per capita income in Viet Nam has continuously increased, reflecting Vietnam’s socio-economic development. 

According to the Secretary, US groups are keen to contribute to Viet Nam’s development, and they hope the Vietnamese Government will further improve the business and investment climate, and simplify administrative procedures to further facilitate business activities.

He said the US Department of Commerce plans to arrange for a business delegation to visit Vietnam in March next year to seek opportunities in cooperation on energy.

Besides, the two countries could promote partnership in health care, as this is a strength of the US, he said.

Representatives from some US groups expressed their wish to invest more in Viet Nam and thanked the Vietnamese Government, ministries, sectors and partners for their support and cooperation in the past time.

They voiced the hope for stronger bilateral trade and the opening of direct flights between the two countries.       

Following the reception, PM Phuc, Secretary Ross and officials of both countries witnessed the signing of several important commercial deals.

(Source: VNA)