Prime Minister Pham Minh Chinh at the working session with the delegation of the U.S.-ASEAN Business Council

Vietnam is reforming and will go further

During the meeting, USABC expressed appreciation for the Prime Minister’s attention to U.S. businesses, noting that he has received the USABC delegation twice and held two roundtable discussions with U.S. businesses since late 2024,

He also frequently met with U.S. corporations both bilaterally and on the sidelines of conferences.

USABC praised Vietnam’s increasingly favorable business environment, strong reform commitments, vision and action of Vietnam, especially the ongoing administrative streamlining revolution.

USABC pledged its continued long-term partnership, investment, production and business cooperation with Vietnam in the coming period. At the same time, it put forward several recommendations and proposals aimed at further strengthening and enhancing the effectiveness of the bilateral relationship.

The delegation of the U.S.-ASEAN Business Council

Mr. Ted Osius, former U.S. Ambassador and now Senior Vice President and Regional Managing Director of USABC, emphasized that U.S. businesses have full confidence in Vietnam and no doubts about the country’s market economy status.

After representatives from various ministries and agencies responded to the opinions and concerns of USABC member companies, Prime Minister Pham Minh Chinh requested that relevant agencies and sectors promptly study and take into account the proposals and recommendations following the meeting, and address the issues without delay and provide responses to the businesses in the spirit of the “six clarities” principle.

He also called for continued cooperation and promotion of business ties with U.S. companies, especially in new sectors such as science and technology, innovation, digital transformation and artificial intelligence.

Updating the USABC delegation on Vietnam’s current situation, Prime Minister Chinh reaffirmed the country’s commitment to ongoing reform and a shift toward an enabling government that best supports citizens and businesses.

Urging the U.S. to lift tech export restrictions

Addressing key concerns from U.S. businesses, Prime Minister Chinh emphasized Vietnam’s commitment to equal access to resources for both domestic and foreign firms, and greater facilitation in visa issuance, labor policies and food safety regulations.

He stated that Vietnam and the U.S. have actively engaged in negotiations on tariff policy and that the Vietnamese Government has made ongoing efforts to implement political, diplomatic and economic solutions.

The two negotiating teams have essentially reached consensus on the Vietnam-U.S. Joint Statement regarding a fair, balanced and reciprocal trade agreement framework, laying the foundation for stable and sustainable bilateral economic and trade relations that benefit both countries

To further improve the quality and effectiveness of Vietnam-U.S. trade, investment and business cooperation, the Prime Minister urged the U.S. business community to continue voicing support to the U.S. Government.

Prime Minister Pham Minh Chinh poses for a photo with the delegation of the U.S.-ASEAN Business Council

At the same time, he called on them to support the Vietnamese Government in engaging in dialogues with U.S. agencies to soon reach specific agreements on tariffs, aiming for balanced and sustainable trade turnover that benefits both nations.

At the same time, they are encouraged to voice support for strengthening sustainable economic, trade and investment cooperation between the two countries; and to refrain from applying trade defense measures against Vietnamese exports or taking actions that could negatively impact the strong and growing relationship between the two nations.

Vietnam also expects the U.S. to soon recognize its market economy status and remove the country from the high-tech export control list.

The Prime Minister also called on U.S. businesses to further increase high-quality investment, accelerate the transfer of advanced technologies, and support human resource training for Vietnamese companies, particularly in agriculture, processing industries, semiconductors and artificial intelligence.

He encouraged U.S. companies to facilitate Vietnamese businesses to integrate more deeply into their global supply chains.

To support and accompany U.S. companies in investing, manufacturing and doing business in Vietnam, and to help concretize the Vietnam-U.S. Comprehensive Strategic Partnership, the Government of Vietnam is committed to the “three togethers” principle: Listening and understanding together between businesses with the Government and the people; Sharing vision and action together to cooperate and support each other for rapid and sustainable development; and Working, winning, benefiting, developing and celebrating together joy, happiness and pride.

Prime Minister Pham Minh Chinh affirmed that the Government of Vietnam will continue reducing administrative procedures and consistently review and improve legal and policy frameworks to create a more open, transparent, and equitable investment, production and business environment, ensuring lawful and legitimate rights and interests of investors. He reiterated that this will also help businesses and investors slash compliance, input and logistics costs, enhance competitiveness, and ensure long-term, efficient and sustainable operations.