PM invites American businesses to invest in digital technology

By Hoang Thuy   September 19, 2023 | 01:06 am PT
PM invites American businesses to invest in digital technology
Vietnam Prime Minister Pham Minh Chinh speaks at the Vietnam-U.S. Business Forum in Oregon, the U.S. on Sep. 18, 2023. Photo by Nhat Bac
Prime Minister Pham Minh Chinh has called on U.S. businesses to invest in Vietnam, especially in digital technologies.

Speaking at the Vietnam-U.S. Business Forum in Oregon, the U.S., on Monday, he urged American companies to invest in trade and services, science and technology, innovation, digital technology, energy, and circular and sharing economies.

He hoped American business executives and ordinary people would visit Vietnam to see the changes in the country.

"The Government of Vietnam is ready to open the door to welcome all businesses seeking to invest."

He said Vietnamese companies have strengths in electronics, footwear and agriculture, and his government puts people at the center of development.

After nearly 40 years of integrating with the world, Vietnam has seen its per capita income jump from US$160 to $4,100 and its $409-billion economy become among the 40 biggest in the world.

It is aiming to achieve strategic breakthroughs in institutional and infrastructure development and human resource training including in areas like digital technology, energy transformation, green transformation, and circular and sharing economies, he added.

A representative of Oregon businesses said American companies see stronger potential for partnership now that the two countries have upgraded their ties to the highest level, Comprehensive Strategic Partnership.

The future would rely on artificial intelligence and semiconductors, and American companies look forward to cooperating with their Vietnamese counterparts, he added.

At the forum, Chinh also witnessed the signing of deals between Vietnamese and American companies.

Sovereign fund State Capital Investment Corporation and pharmaceutical companies Vinapharm and Biomed Group signed a memorandum to establish a company for manufacturing healthcare products in Vietnam.

Also on Monday Chinh held a breakfast meeting with Vietnamese-Americans in San Francisco.

He praised the contributions made by overseas Vietnamese to Vietnam, where they have invested $1.7 billion in 385 projects.

Chinh is on a six-day trip to the U.S. After San Francisco, he will leave for Washington and New York.

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