Minister vows support for US, Vietnamese firms in high-tech economy

WVR/VNA - Minister of Planning and Investment Nguyen Chi Dung has pledged to join other ministries, sectors, and localities to provide optimal conditions for US and Vietnamese enterprises to successfully make investment and do business, thus helping generate sustainable values and boost connections for common interests to secure prosperity for both countries.
Minister vows support for US, Vietnamese firms in high-tech economy
On the morning of September 11 at the Government headquarters, Prime Minister Pham Minh Chinh and President Joe Biden attended the Vietnam-US High-level Conference on Investment and Inovation, which was co-chaired by Minister of Planning and Investment Nguyen Chi Dung and US Secretary of State Antony Blinken. (Photo: WVR/Tuan Anh)

So said the Minister while reporting on the outcomes of the high-level conference between the US and Vietnam on investment and innovation held in Hanoi on September 11.

The event, attended by Prime Minister Pham Minh Chinh and US President Joseph Robinette Biden Jr., was co-chaired by Minister Dung and US Secretary of State Antony Blinken. It saw the presence of 14 outstanding firms from both countries and formed part of the US leader’s State visit to Vietnam.

Minister Dung said Vietnam’s direction for the time ahead is to selectively attract investment to develop a digital economy, green economy, circular economy, and a knowledge-based economy. Priority is given to high technology, electronics, the semi-conductor industry, innovation, renewable energy, new energy (hydrogen), financial centre development, modern trade in services, infrastructure development, and research and development.

These are also the fields the US is strong in, he noted, adding that the two countries are complementary to each other in these areas.

At the conference, Dung said, he asked US enterprises to keep making new and expanding investments in Vietnam and assist local firms to engage in supply chains.

He suggested semiconductor manufacturers like Intel, Amkor, Marvell and Global Foundries and the US Semiconductor Industry Association develop a semiconductor ecosystem, and coordinate with his ministry’s National Innovation Centre to build training and R&D centres to design chips and semiconductors in Vietnam.

He called on Boeing to develop a component production ecosystem and set up a regional-level maintenance centre for aviation equipment and aircraft in the country.

In addition, the minister also asked financial institutions and investment funds of the US to help provide concessional credit and finance for green areas like renewable and hydrogen energy development in Vietnam, help the country develop regional and international-level financial centres, and promote bilateral trade.

Meanwhile, he recommended Vietnamese firms proactively learn experience, acquire and apply technology, improve their governance capacity, and accumulate capital in order to become able to join global value chains and cooperation activities that generate higher value, Dung reported.

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(Source: WVR/VNA)