Permanent Deputy Prime Minister Pham Gia Tuc on July 17 hosted a working session with representatives from US business associations and enterprises operating in Vietnam.

The meeting focused on the investment environment, business climate, and recommendations from the US business community.

During the session, Permanent Deputy PM Tuc urged the US business community to continue leveraging their strengths in capital, technology, management expertise, and global networks to expand investment in Vietnam’s priority sectors. He emphasized that such contributions are vital to enhancing growth quality, boosting competitiveness, and realizing Vietnam’s goal of achieving double-digit growth in the coming period.

The Deputy PM expressed his desire for US enterprises to serve as "bridges," sharing objective perspectives on Vietnam’s investment environment and its reform efforts. This, he noted, would help strengthen mutual trust and promote economic, trade, and investment cooperation between the two nations in a stable, substantive, balanced, and mutually beneficial manner.

According to Mr. Tuc, economic, trade, and investment cooperation remains a key pillar of the bilateral relationship. He acknowledged that many US companies have contributed significantly to technology transfer, human resource development, and enhancing production capacity, helping Vietnam integrate more deeply into global value chains.

Affirming that the Government views the US business community as a "companion partner" in innovating growth models, promoting science and technology, innovation, and digital and green transitions, the Deputy PM stated that Vietnam is committed to refining its institutions. The government is actively reforming administrative procedures, improving the business environment, and increasing the stability, transparency, and predictability of policies.

He further highlighted that Vietnam has drastically implemented administrative reforms, which have reduced the processing time and compliance costs for many procedures by over 50%. These processes are being progressively aligned with international practices while remaining suitable for domestic conditions.

At the meeting, representatives from US enterprises spoke highly of Vietnam’s recent policies aimed at driving new growth engines, specifically citing the Politburo's Resolution No 10-NQ/TW on the development of foreign-invested economic sector. They described this as a positive signal that bolsters their confidence to expand operations in Vietnam.

The delegation also appreciated the Government’s commitment to maintaining a direct dialogue mechanism with the business community. They expressed a strong desire to continue partnering with Vietnam in mobilizing resources, transferring technology, and developing a high-quality workforce to support the country's ambitious growth targets.

However, US business representatives pointed out several challenges related to mechanisms, policies, and implementation in fields such as technology, trade, taxation, aviation, energy, infrastructure, logistics, and services. They recommended that the Government enhance policy stability and predictability, accelerate administrative processing, and expand consultations with the business community during the drafting and implementation of new regulations.