Vietnam is emerging as one of the countries that US businesses are most keen to strengthen co-operation ties with in response to the novel coronavirus (COVID-19) pandemic to reinvigorate the economy when the epidemic recedes, US businesses shared during an online seminar held on April 16.

Chaired by Myron Brillian, Vice President of the US Chamber of Commerce (USCC), the seminar attracted the participation of various ambassadors representing Singapore, Malaysia, Singapore, Indonesia, and Vietnam, in addition to representatives of approximately 50 US businesses that specialise in finance, health care, pharmacy, technology, and energy. 

US executives are keen to cooperate with ASEAN countries
in combating the COVID-19 pandemic

Opening the online meeting, Myron Brillian noted that the COVID-19 is currently presenting huge global challenges and therefore requires strong international co-operation. Representatives of the USCC and US firms posed many questions throughout the seminar regarding ASEAN and other regional countries’ commitments to opening up their economies which could create favourable conditions to improve trade flow and increase global investment. 

Moreover, they expressed their desire to work in close partnership with the various governments of regional countries through public-private partnerships in order to both combat the spread of the disease and look to restore production once the epidemic is eradicated.

In sharing information about the various COVID-19 preventive measures put in place and their plans for an economic recovery, several of the Asian diplomats voiced their strong support for regional co-operation initiatives that have been put forward by Vietnam in its capacity as ASEAN Chair 2020.

Upon recalling the Declaration of ASEAN Leaders which was given at a special summit held on April 14, the ambassadors emphasised that ASEAN is fully committed to maintaining trade and investment flows both regionally and globally. This can be done as a means of promoting the greater use of technology, encouraging the growth of the digital economy, and being poised to co-operate and share resources with partners, including medical equipment, as an effective response to the pandemic.

Speaking during the seminar, Vietnamese Ambassador Ha Kim Ngoc noted that despite posing unprecedented challenges for nations worldwide, the COVID-19 pandemic has created an opportunity for countries to collaborate closer on cross-border issues. In addition to implementing its own epidemic control measures domestically, Vietnam has been an active contributor to regional and global efforts to combat the pandemic. As Chairman of ASEAN 2020, the nation has hosted a range of important conferences while suggesting plenty of co-operation initiatives within ASEAN along with plans between the regional bloc and its partners throughout the world.

Ambassador Ngoc stated that with the full effort of both sides, co-operative relations between Vietnam and the US have enjoyed development across all areas, especially in terms of health care. The recent manufacturing of medical equipment and protective gear which has got underway in the country for export to the US serves as one of the examples of the effective co-operation that exists between the two partners.

Vietnamese Ambassador Ha Kim Ngoc expresses hope US businesses
keep investing in Vietnam once the COVID-19 pandemic is eradicated

Reviewing the positive results in COVID-19 prevention that have been seen in the country, Ambassador Ngoc stated that both the government and citizens have made every effort to achieve their dual goal of combating the disease, ensuring the health and safety of all people, whilst simultaneously assisting businesses get through the recent downturn. According to the diplomat, many stimulus and relief packages have been implemented by the government and ministries to ensure that no one is left behind as a result of the economic fallout from the COVID-19. 

The Ambassador also pointed out that the government is keen to restore business operations as soon as possible, expressing hope that US enterprises will continue to work closely with the Vietnamese government and people in the fight against the COVID-19. Partnerships would also be highly appreciated in terms of boosting socio-economic development in addition to taking the opportunity to invest in the country and the region when the disease is under control. 

Regarding the diplomat’s proposal on strengthening healthcare co-operation, Patrick Kilbride, Vice President of the USCC in charge of the Global Innovation Policy Center, affirmed that US firms are keen to enter into public-private partnerships with the governments in order to manufacture pharmaceuticals and protective equipment, along with enhancing disease communication for the wider community.