Vietnam set to improve investment environment

CA - The Vietnamese Government will improve investment environment and create favorable conditions for foreign businesses, including those from the US, to operate in the country.

The pledge was made by Prime Minister Nguyen Tan Dung at a reception in Hanoi on December 8 for a delegation of US businesses in Vietnam and guests who had engaged in negotiations for the signing of the Vietnam-US Bilateral Trade Agreement (BTA) ten years ago.

The PM welcomed the delegation to Hanoi to attend a workshop on Vietnam-US trade relations in the post-BTA period, themed “Looking back to the past – Looking towards the future”, jointly held in Hanoi by the Diplomatic Academy of Vietnam, the Vietnam-US Trade Council, the Vietnam Chamber of Commerce and Industry and the US Chamber of Commerce in Vietnam.

He affirmed Vietnam’s willingness to joint efforts with the US in the implementation of the BTA and negotiations for the signing of the Trans-Pacific Partnership (TPP) Agreement, with a view to lifting the two countries’ relations to a new height, for the sake of peace, cooperation, prosperous development and mutual benefit.

PM Dung said the signing of the BTA was made possible with goodwill from both sides.

During the past decade, the BTA has brought significant results for trade and investment of the two countries, while improving mutual understanding and trust.

On the occasion, US Ambassador to Vietnam David Shear expressed his delight at achievements Vietnam and the US have gained over the past decade, saying the signing of the BTA has helped raise two-way trade for the benefit of the two countries.

Two-way trade between Vietnam and the US in 2011 recorded an estimated US$20 billion, representing a ten-fold increase compared with 2001.

The Ambassador expressed his wish that the Vietnamese Government would continue supporting US businesses in the country and increasing two-way trade in the interests of both countries.