Vietnam, US ready to cooperate in both public, private sectors

The Ministry of Industry and Trade in collaboration with the US Embassy in Vietnam held the 2024 Vietnam-US Cooperation Forum in Ho Chi Minh City on December 6, attracting the participation of more than 350 delegates.

vnus.jpg
Delegates attend the 2024 Vietnam-US Cooperation Forum in Ho Chi Minh City. (Photo: SGGP)

At the forum, experts provided updated information on the new policy trends of the US to offer recommendations, solutions, and directions for businesses to gradually position and build their systematic and effective business strategies.

The event also aimed to contribute to creating a driving force for the business communities of the two countries to build strategies for the expansion of the import-export market and promote trade and investment exchanges between the two nations in a balanced and sustainable manner.

The speakers also discussed the new policy trends of the US and Vietnam, assessed the impacts on bilateral import-export activities, the prospects of the digital economy, and energy transition challenges, methods of market access and development, built capacity to meet the technical requirements and regulations of the US market, and offered solutions for deeper participation in US global supply chains.

Speaking at the event, Director of the Europe-Americas Market Department under the Ministry of Industry and Trade, Ta Hoang Linh, said that bilateral trade reached nearly US$100 billion in 2024. The US remains Vietnam's second-largest trading partner, while Vietnam has become the eighth-largest trading partner of the US and its fourth-largest export market in ASEAN.

According to Mr. Linh, in recent times, bilateral trade relations between Vietnam and the US have been growing at an impressive pace. The relationship between the two countries has elevated to a comprehensive strategic partnership in September 2023, creating a solid foundation for the cooperation between the two sides that has continuously deepened and become more substantial. Of these, the economic, trade, and investment are key pillars promoting the relationship between the two nations.

Anne Benjaminson, Acting US Consul General in Ho Chi Minh City, said that the 2024 Vietnam-US Cooperation Forum has become and will continue to be an annual event to provide information and policies for the economic, trade, and investment development of Vietnam and the US. The event will offer analysis, assessments, and solutions to businesses and propose government measures to enhance bilateral cooperation. It is also an important opportunity for the business communities of the two countries to meet and seek business cooperation opportunities.

Vietnam and the US are witnessing strong development across sectors, including the public and private fields in the US that are ready to strengthen cooperation with Vietnam in implementing new initiatives and in potential areas such as the digital economy, e-commerce, energy, healthcare, education, and financial services, Mr. Juan Pablo Feregrino, representative of the US Agency for International Development (USAID), said.

Other news