TheVietnam-US Business Forum was officially opened in Hanoi with the attendance of nearly 200 representatives from State and Government organizations and businesses.
According to Dr Vu Tien Loc, VCCI President, the main function of the forum is to develop channels of public-private dialogue promoting policy relating to the American market, and submitting members’ recommendations to authorities of the two sides to ensure a level playing field for all Vietnamese economic sectors and Vietnam-US relations.
The forum will also serve as the bridge for meetings and exchanges between businesses of the two countries promoting economic cooperation and investment, assisting businesses on economic information and cooperation opportunities, increasing cooperation with US-Vietnam business associations, the US-Vietnam Trade Council as well as the US-ASEAN Business Council, to promote comprehensive economic cooperation between Vietnam and the US. The forum will also organize promotion activities and trade links such as training courses, workshops, seminars, conferences, market surveys, trade fairs and other activities.
Minister of Government Office Nguyen Xuan Phuc pointed out that the US is an important economic partner and major export market of Vietnam. In 2009, two-way trade value between Vietnam and the US was over US$14 billion, including US$11 billion of Vietnamese exports and over US$3 billion of Vietnamese imports.
Vietnam is now an attractive destination for American investors. By 2009, there were 495 American investment projects in Vietnam with total registered capital of US$14.5 billion, ranking 6th among countries and territories investing in Vietnam.
Since the official establishment of diplomatic relations, especially the signing of the Trade and Investment Frame Agreement (TIFA), Vietnam-US trade relations have developed vigorously. Vietnam’s primary exports are garments, aquatic products, footwear, coffee and crude oil.
The Minister said that in spite of trade and investment growth in recent years, it remains below the potential and desire of businesses of the two countries. “I hope the forum will have effective and efficient activities to promote trade and investment cooperation between the two countries,” added the Minister.
For his part, US Ambassador Michael Michalak believes the forum will encourage businesses of the two countries to access information and become acquainted with the legal environment and formalities in their respective business activities. The Ambassador expressed hope that the forum will mark a step further in economic relations between Vietnam and the US.
Since early 2010, the Secretariat of the Forum has developed a plan of action for 2010 and coordinated with related ministries and organizations for its implementation. In the first three months of 2010, in conjunction with LinkWorld Unlimited International Events and Vietnam CEO Club, the forum has sponsored a lecture by Professor Tom Cannon on “Development strategy in the global crisis and sustainable future for Vietnamese businesses”. The lecture focuses on forecasts and trends for the world, regional and Vietnamese economies in the years to come, economic problems that Vietnam needs to pay attention to in the changing economic context and new conditions to which Vietnamese businesses should adapt.
The forum has also coordinated with Central Party Business Commission to organize a lecture by Prof. Dr. William D. Kimsey, James Madison University (JMU), USA, for business managers on two subjects: Business leadership, and negotiation skill and dispute settlement in international trade. The workshop was attended by 70 representatives of offices and businesses.
The forum will organize promotion activities for export to the American market in Quarter 2 and send a market survey delegation to the US in Quarter 3 of 2010.
Lan Anh
Vietnamese
