State President Luong Cuong calls for new era of Viet Nam-U.S. cooperation

The event was co-hosted by the Business Council for International Understanding (BCIU), the U.S. Chamber of Commerce (USCC), and the U.S.-ASEAN Business Council (USABC) on the occasion of the State President's tour to the U.S. attend the General Debate of the 80^th session of the United Nations General Assembly.

Participants to the event included leaders of American business giants like Vantive, Amazon, Apple, AES, Amway, Boeing, Excelerate Energy, Warburg Pincus, The Asia Group, Excel Services Corporation, Atlas Air, Meta, Coca-Cola among others.

American business leaders showed their admiration for Viet Nam's remarkable socio-economic achievements, expressing their belief that Viet Nam would become an attractive destinations for international investors and gain greater success in the coming years.

In his remarks, Luong said Viet Nam has emerged to be among the world's top 32 economies and signed 17 free trade agreements involving more than 60 economies around the globe.

Since Viet Nam and the U.S. normalized diplomatic relations 30 years ago, economic, trade and investment has become a key pillar of the bilateral relationship, noted the State President, adding that the two-way trade rose to nearly US$140 billion in 2024.

Viet Nam has been working hard to reform its institutions, improve the quality of human resources, and build infrastructure in a bid to turn the country into a developed country with high income by 2045, he said.

The Southeast Asian nation has completed the overhaul of local administration system by reducing the number of localities to 34 from previously 63 and by dissolving the district-level administrations to improve the overall performance of local authorities.

The country is also doubling effort to improve its business climate by amending and supplementing major laws on investment, enterprises, land while stepping up the implementation of the strategies on national digital transformation, administrative procedures reform, e-government development, innovation, green economy development, and renewable energy, he added.

The State President called on American business community to grasp the opportunities and expand investment in Viet Nam to create a new era of cooperation for a prosperous and sustainable future, pledging that Viet Nam will create the most favorable conditions for American investors to do long-term business in the country./.