Vietnam PM pledges support for US firms, calls for more investment in energy, telecoms

The delegation, led by Brian McFeeters, interim president and CEO of the U.S.-ASEAN Business Council, included representatives of major U.S. corporations across a wide range of sectors on a business trip to explore investment and cooperation opportunities in Vietnam.

Welcoming the delegation, PM Hung said its large turnout reflected strong interest in the Vietnamese market and expanding opportunities for economic, trade, and investment cooperation between Vietnam and the United States.

The prime minister said Vietnam stands ready to create a more conducive environment for foreign companies, including U.S. firms, to expand operations, while accelerating institutional reforms, improving the business climate, and reducing administrative procedures.

Vietnam is also deepening international integration, mobilizing external resources for development, and removing regulatory barriers to facilitate more effective investment, he added.

PM Hung stressed that ministries and agencies would promptly address business proposals and provide written responses on specific issues, with relevant bodies assigned to monitor progress and report outcomes.

Highlighting priority areas, the prime minister said Vietnam supports investment by leading U.S. energy companies, contributing to national energy security and a transparent and efficient energy market.

Vietnam also welcomes U.S. technology firms and is ready to facilitate their access to the telecommunications market, including cooperation in research, investment, technology transfer, and the development of infrastructure such as 5G networks and submarine fiber-optic cables, in line with Vietnam’s national security requirements and its legal framework.

Hung noted that the Ministry of Science and Technology granted a license to Starlink satellite Internet services, operated by U.S.-based Space Exploration Technologies Corporation, in Vietnam in February.

He encouraged U.S. firms to strengthen cooperation with Vietnamese partners, promote the transfer of core technologies, and support deeper integration into global value chains.

PM Hung reaffirmed that Vietnam consistently regards the U.S. as one of its most important partners and seeks to further advance the Vietnam-U.S. comprehensive strategic partnership in a stable, balanced, and sustainable manner.

He noted that bilateral relations continue to develop strongly and effectively, supported by high level engagements that have reinforced cooperation momentum across trade, investment, science, technology, and innovation.

PM Hung called on the U.S.-ASEAN Business Council and American companies to help convey Vietnam’s goodwill and cooperation efforts, and to provide objective assessments of the country’s business environment, contributing to progress toward a reciprocal, fair, and balanced trade agreement.

He also proposed that the council and its members support Vietnam in hosting APEC Year 2027, which he said would create momentum for further market opening, investment attraction, and improved competitiveness.

Hung said Vietnam is pursuing rapid but sustainable growth, improving living standards, and strengthening strategic autonomy, while accelerating a shift in its growth model toward science, technology, innovation, and digital transformation, moving from reliance on resources and labor to knowledge, technology, and productivity.

He also urged the U.S. to recognize Vietnam as a full market economy and to remove the country from the strategic export control list (D1-D3).

Since the normalization of their diplomatic relations in 1995, Vietnam and U.S. economic ties have continued to expand strongly, with the two sides upgrading their relations to a comprehensive strategic partnership in September 2023.