WNAM REPORT: US enterprises operating in Vietnam have affirmed their commitment to sustainable, long-term investment in the country amid current challenges at a dialogue with Prime Minister Pham Minh Chinh in Hanoi on May 13.
The Government leader’s 2nd meeting with the community in just two months gathered representatives from the US Embassy, the American Chamber of Commerce (AmCham), and over 50 leading US corporations, including Boeing, Molex, Excelerate Energy, Abbott, Coca-Cola, and GE Vernova.
As of the end of 2024, US foreign direct investment (FDI) in Vietnam hit about 11.94 billion USD, across more than 1,400 projects. Most major US multinationals have so far established a presence and are operating effectively in the Southeast Asian nation.
During the meeting, US delegates expressed appreciation for the Vietnamese Government’s goodwill and for its efforts to maintain a favourable investment climate. They proposed Vietnam continue enhancing its business environment by addressing bottlenecks in administrative procedures, non-tariff barriers, taxation, and fees, while ensuring infrastructure conditions, transparency, and rules of origin.
In response, PM Chinh affirmed Vietnam’s readiness to engage in open and constructive dialogue with partners and businesses, including those from the US, to ensure mutually beneficial outcomes.
He called on US companies to convey Vietnam’s efforts and goodwill toward a mutually beneficial tariff agreement to the administration of President Donald Trump.
The PM stressed that Vietnam endorses cooperative relations among countries based on the law, international commitments, and the United Nations Charter, without undermining the interests of other nations. He also expressed his hope for positive progress in US–China trade talks, which he said would benefit not only both countries but also the global economy.
Appreciating the US’s support for a strong, independent, self-reliant, and prosperous Vietnam, he stated that the country is committed to moving beyond the past, maximising common ground, narrowing differences, working towards the future, and developing a substantive and effective comprehensive strategic partnership with the US.
Vietnam views difficulties relating to global trade tensions as an opportunity to restructure its economy and trade along more equitable and sustainable lines, while promoting market, product, and supply chain diversification, he noted. The PM also highlighted ongoing efforts to address US concerns, crack down on trade fraud, and improve the domestic business climate through stepping up administrative reform, removing unnecessary business conditions, cutting procedural timelines, and lowering costs for citizens and businesses.
The Vietnamese Government, he remarked, will continue to create favourable conditions and safeguard the legitimate rights and interests of all investors, including US companies, to support their effective and sustainable operations in Vietnam.
Additionally, PM Chinh shared that Vietnam has reformed and continues to reform its visa policy for foreign nationals, including those from the US, and expressed his hope that the US side would consider more favourable visa policies for Vietnamese citizens.
