In the complex and unpredictable global context, Vietnam has managed to sustain growth and ensure macroeconomic stability, exchange rate stability, inflation control, and favorable conditions for production and business activities thanks to the efforts of its people, businesses, and the support of international friends, including foreign investors in general and US businesses in particular.

Deputy Prime Minister Le Minh Khai works with some US businesses - photo: VGP/Tran Manh

Deputy Prime Minister Le Minh Khai expressed the desire to listen to the feedback and recommendations from US businesses, especially those related to policies. This is to ensure that relevant authorities can promptly implement effective solutions to create better conditions for businesses.

At the working session, US businesses put forth specific recommendations, including increasing the foreign ownership ratio in the banking sector to contribute to financial stability and facilitate investment opportunities for investors; boosting investment in sectors, such as hotels, manufacturing, supplying medical equipment and pharmaceuticals; investing in transportation infrastructure, logistics, and expanding internet development in remote, rural, and economically challenging areas; enhancing cybersecurity; providing healthcare and ensuring employment opportunities for women in rural areas; developing air transportation services; valuing the stock market as an important component of the economy; and promoting cooperation in the field of education and high-quality human resource training.

At the working session, the leader of a US company highly appreciated Vietnam’s achievements over the past nearly 40 years of renovation and requested Deputy Prime Minister Le Minh Khai to share more about the attained results, as well as the country’s development strategies for the coming decades.

Deputy Prime Minister Le Minh Khai shared that after nearly 40 years of renovation, Vietnam has experienced strong and comprehensive development with significant achievements in various fields, such as politics, economy, society, healthcare, education, defense, security, and foreign affairs. The scale of the economy has expanded and reached US$430 billion in 2023, making Vietnam the fifth largest economy in ASEAN and the 35th among the 40 largest economies in the world. The lives of Vietnamese people have significantly improved across all aspects.

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Regarding Vietnam’s development strategy, Deputy Prime Minister Le Minh Khai outlined the country’s goals for the future. By 2030, Vietnam aims to become a country with a modern and advanced industrial sector, high average income. By 2045, on the occasion of the 100th anniversary of its establishment, Vietnam aspires to become a developed nation with high income levels. To achieve these objectives, in addition to self-efforts, Vietnam highly values cooperation with other countries and the foreign direct investment (FDI) business community.

Deputy Prime Minister Le Minh Khai expressed delight at the effective production and business activities of the US business community in Vietnam. He expressed the desire for US businesses to continue accompanying Vietnam in its development process and expand their investments and operations in the country. The Deputy Prime Minister affirmed that the Government will make every effort to create favorable conditions for businesses to operate smoothly.

Deputy Prime Minister Le Minh Khai also requested US businesses to report any difficulties or obstacles facing their operations in Vietnam so that relevant Vietnamese authorities can provide appropriate solutions within their jurisdiction.