The forum was jointly held by the Vietnamese Ministry of Industry and Trade, the American Chamber of Commerce in Hanoi, and the US-ASEAN Business Council. (Photo: VNA)Speaking at the Vietnam-US Trade Forum 2021, VietnameseDeputy Minister of Industry and Trade Do Thang Hai affirmed that the US is aleading important partner of Vietnam on all cooperation pillars.
The official cited statistics as showing thattwo-way trade increased from 450 million USD in 1995 when the two countries establishedtheir diplomatic relations, to 90.8 billion USD last year.
As of October 2021, the figure reached 89,6 billionUSD, and the US has maintained its position as Vietnam’s biggest trade partner andbiggest importer, he said.
Meanwhile, Vietnam is now the 9th biggest tradepartner of the US, jumping five places from 2020.
For investment, as of October, the US had ranked 11th among 138 countries and territories investing in Vietnam, with 1,134 projectsworth 9.72 billion USD.
Most of US giants like Exxon Mobil, Murphy Oil,Chevron, Boeing, Ford, Intel, Wal-Mart, Nike, Amazon and P&G have beenpresent in Vietnam, he said, noting that many of them held that Vietnam wouldbecome an ideal, important and safe investment destination of the global supplychain.
Chargé d'Affaires at the US Embassy in Vietnam Marie Damoursaid the US pledges to help Vietnam achieve its climate change targets andhandling issues in this field, thus ensuring the country’s dynamic economicdevelopment.
The US also wants to introduce new enterprises to cooperate andinvest in the medical sector in Vietnam, she said, adding that the US willpartner with the Southeast Asian country in technological development.
Minister Counselor Bui Huy Son, Head of the VietnamTrade Office in the US, suggested Vietnamese businesses quickly stabiliseproduction to ensure goods supply to the US as the country is facing a disruption in supplychains and goods shortages due to the COVID-19 pandemic.
Participants at the forum proposed solutions to boost tradebetween the two countries in the new normal.
The forum was jointly held by the Vietnamese Ministryof Industry and Trade, the American Chamber of Commerce in Hanoi, and the US-ASEANBusiness Council./.
VNA
