US business circle commits to VN’s markets

Vietnamese PM Nguyễn Tấn Dũng meets with leaders of American big corporations, Washington DC, April 14, 2010 – Photo: VGP/Nhật Bắc

Vietnamese PM Nguyễn Tấn Dũng, who is attending the nuke summit in Washington DC, on April 14 dropped in a meeting jointly held by the American Chamber of Commerce (AmCham) and the US-ASEAN Business Council (UABC) to discuss with leaders of American big corporations.

Both US Trade Representative Ron Kirk and UABC President Alex Feldman highlighted great potentials for bilateral trade and investment cooperation between Việt Nam and the US. 

It was reported that in spite of the global economic and financial crisis, the two-way trade turnover between Việt Nam and the US stood at US $15 billion last year, ten times higher than 2001. American enterprises have been involving in 500 projects in Việt Nam.

According to the US business circle, these figures reflect initial outcomes in the bilateral economic ties following the Vietnamese Government’s endeavor to pursue economic renovation; simplify administrative procedures; and create favorable business climate for foreign players. 

Addressing the event, PM Nguyễn Tấn Dũng underlined Việt Nam’s resolution to fulfill its commitments under the US–Việt Nam Bilateral Trade Agreement (BTA) and to the World Trade Organization (WTO) as well as to undertake negotiations for the Việt Nam-US Bilateral Investment Treaty (BIT) and the Trans-Pacific Strategic Partnership Agreement (TPP).

The Vietnamese Government chief took the occasion to invite the CEOs of American leading corporations to participate in the World Economic Forum on East Asia, scheduled on June 6-7, 2010 in Hồ Chí Minh City. 

PM Nguyễn Tấn Dũng (3rd from left) meets with leaders of Lockheed Martin Corporation, Washington DC, April 14, 2010 – Photo: VGP/Nhật Bắc

On the same day, during his reception to leaders of Lockheed Martin Corporation, PM Nguyễn Tấn Dũng suggested the aviation and space technology company – the producer of Việt Nam’s first satellite Vinasat 1 - to help train Vietnamese staff to fruitfully run Vinasat 1 and map out plans for further cooperation in terms of hi-tech transfer. 

PM Dũng also received leaders of the Westinghouse Electric Company and Raytheon Company.

Vietnamese PM Nguyễn Tấn Dũng (3rd from right) and WB President Robert Zoellick (2nd from left), Washington DC, April 14, 2010 – Photo: VGP/Nhật Bắc

WB pledges to stand by Việt Nam

On April 14, the Vietnamese Government’s top leader also had a discussion with World Bank President Robert Zoellick.

Việt Nam seeks further assistance from the WB to conduct the national reform; adjust economic structure and surmount the financial crisis, said PM Dũng.  

For his part, WB President Robert Zoellick vowed to stand by Việt Nam in its socio-economic development in the 2011-2015 period. The WB will offer the country with loans through the International Bank for Restructure and Development (IBRD) instead of the International Development Association (IDA). 

Since 1993, through 93 projects, the WB has provided the Southeast Asian country with US $10.4 billion preferential loans. 

By Kim Anh