PM Pham Minh Chinh (R) welcomes USABC delegation (Photo: VNA)
Prime Minister Pham Minh Chinh pushed for balanced, harmonious and sustainable economic and trade ties with the US during a working session in Hanoi on March 18 with a delegation from the US-ASEAN Business Council (USABC) and nearly 60 major US corporations.
PM Chinh welcomed their working trip, which coincides with the 30th anniversary of diplomatic ties and the second year of their Comprehensive Strategic Partnership.
Vietnam always considers the US a partner of top significance, especially in economy, trade and investment, he said, highlighting the vast untapped potential for US firms in Vietnam. He expressed hope for the US’s expanded presence in the country, especially in such key sectors as energy, high technology, semiconductor, artificial intelligence (AI), aviation, aerospace, and climate change mitigation.
The guests praised the Vietnamese Government, particularly PM Chinh, for actively tackling challenges faced by foreign investors, including those from the US.
Commending Vietnam’s socio-economic development strategy bolstered by recently-issued Resolution 57-NQ/TW focusing on sci-tech, innovation and digital transformation, they signaled strong interest in expanding investments across green transition, digital economy, circular economy, energy, high tech, AI, data management, aviation, logistics, finance, telecom, healthcare, food processing, consumer goods, tourism, education, and agriculture.
They wished for faster administrative reforms, legal stability, and incentives to boost strategic projects aligning US expertise with Vietnam’s needs.
In reply, Chinh directed ministries and agencies to gather and address the delegation’s input promptly. He encouraged US firms to bridge business communities, leverage dialogue mechanisms between the Government and businesses, and host regular networking events. He also pushed for opportunities to integrate Vietnamese companies into US global supply chains, positioning Vietnam as the US’s key production and business hub in Southeast Asia.
The delegation was urged to advise the Vietnamese Government on refining policies and lobby President Donald Trump's administration for stronger, sustainable economic ties. He floated a new bilateral trade framework tailored to current realities and urged the US to avoid trade barriers on Vietnamese exports, recognise Vietnam’s market economy status soon, and remove Vietnam from the US Department of Commerce’s list of restricted hi-tech exports.
At the reception (Photo: VNA)
The host suggested collaboration in sci-tech and innovation, including tech transfers and workforce training support. He sought US expertise in energy development and infrastructure projects like railways, aviation, and maritime systems, specifically suggesting aircraft maintenance centres at Long Thanh and Gia Binh airports.
He also advocated for partnerships in modern digital infrastructure, 5G commercialisation, 6G research, and tech transfers for medical equipment, pharmaceuticals, and vaccines. In agriculture, he highlighted a sustainable, low-emission rice project spanning 1 million ha in the Mekong Delta as a prime investment target.
Also on March 18, Prime Minister Pham Minh Chinh hosted Charles James Boyd Bowman, General Director of the Trump Organisation’s Vietnam project.
PM Pham Minh Chinh (R) and Charles James Boyd Bowman, General Director of the Trump Organisation’s Vietnam project (Photo: VNA)
The USD1.5 billion project in the northern province of Hung Yen aims to deliver a hi-end urban, eco-tourism, sport, and premium golf complex, meeting the Trump Organisation’s top standards. The proposed investor is a joint venture between Hung Yen Investment and Development Group JSC and IDG Capital, representing the Trump Organisation.
PM Chinh noted the growing Vietnam-US ties since their Comprehensive Strategic Partnership was set up in September 2023, but stressed that there remains room for more US capital to flow in.
He said that Vietnamese agencies will conduct a thorough review to fast-track the project, ensuring legal compliance and protecting all stakeholders. He also highlighted Vietnam’s ongoing administrative reforms aimed at speeding up decision-making with a focus on efficiency, innovation, and measurable results.
The PM called on the Trump Organisation to position Vietnam as a business base and expand its investment footprint to other localities in the country as well as potential areas in which the company excels and Vietnam prioritises. He asked the corporation to strengthen partnerships with Vietnamese enterprises, helping them engage in its global supply chain and business ecosystem.
He encouraged the company to play a role in promoting high-level mutual visits between the two countries while advocating the US issuing policies appropriate to the bilateral relationship, Vietnam’s economic situation, and the global context, continuing steps to recognise Vietnam as a market economy, and creating conditions for Vietnam to import high-tech equipment from the US.
Bowman expressed appreciation for the strong support from Vietnamese ministries, sectors, and Hung Yen province. He highlighted the company’s close collaboration with local authorities to fast-track its project, targeting completion by March 2027, to serve APEC 2027, with the ambition of developing Vietnam’s premier golf course and a world-class golfing destination.
He further revealed that the company is actively exploring more investment opportunities in Vietnam.
It is working to advance visits to Vietnam by the Trump Organisation leaders, thus helping bolster the two countries' relations and elevate Vietnam’s global profile, he added.
