Deputy Minister Luong Tam Quang receives delegation from the US-ASEAN Business Council

Speaking at the meeting, Deputy Minister Luong Tam Quang affirmed that Vietnam always considers the United States a powerful partner in terms of engineering, science and technology so it wishes to expand cooperation with the United States in the fields that the United States has strengths while Vietnam needs, such as infrastructure development, technology transfer, human resource training, working experience exchange.

In the context that the two countries have just upgraded their relationship from a comprehensive partnership to a comprehensive strategic partnership, Deputy Minister Luong Tam Quang expressed hope that USABC will continue serving as a bridge between the governments and the business communities of the two countries, offering practical and effective initiatives to further expand economic, trade and investment cooperation between Vietnam and the United States, as well as encourage US businesses to invest and do business in Vietnam.

The host also hoped that USABC and US businesses will support and assist Vietnam in digital transformation, digital infrastructure, network security, data management, artificial intelligence, and aid equipment to the Ministry of Public Security.

On behalf of the USABC high-level business delegation, Ambassador Ted Osius, President and General Director of the US-ASEAN Business Council, thanked Deputy Minister Luong Tam Quang for the meeting with the delegation.

Ambassador Ted Osius affirmed that Vietnam and the United States have enjoyed fruitful results of their bilateral relations and cooperation, especially in the fields of economics, trade and investment, adding that bilateral trade surged to 138 billion USD in 2022 and 114 billion USD in the first 11 months of 2023. The United States is now Vietnam's largest export market and Vietnam from 100 million USD in 1995, which made Vietnam be the 6th largest trading partner of the United States.

According to the guest, many large US businesses and corporations in various fields have been investing and doing business in Vietnam.

He said that the high-level US business delegation was accompanied by 50 US companies - leading brandnames - in technology, digital economy, manufacturing, and financial services as well as national security and defense.

The USABC President revealed that US businesses are very interested in investment opportunities in Vietnam.

To promote economic, trade and investment relations on par with the development of relations between the two countries, USABC wished that the Vietnamese Government and the Ministry of Public Security would continue creating favorable conditions for US businesses to do business in a stable, long-term way in Vietnam.

He assured that USABC member businesses all commit to supporting Vietnam in achieving its development goals, especially the goals of digital transformation, building a digital economy, digital society, and enhancing cybersecurity and safety.