(MPI) - Deputy Minister of Planning and Investment Do Thanh Trung had a working session on October 28 with the US’s Business Executives for National Security (BENS) led by Timothy Ray, BENS President & Chief Executive Officer.

A view of the meeting. Photo: MPI

Deputy Minister Do Thanh Trung praised contributions of BENS’s member companies to strengthening the bilateral relations between Vietnam and the US.

The US remains one of Vietnam’s earliest investment partners; however, the two-way investment cooperation has not yet matched the potential of the two countries. With the officially upgrade of relationship to a Comprehensive Strategic Partnership between the two countries, this laid a solid foundation for US investors to further promote cooperation with Vietnam in the future.

Deputy Minister Trung said that relevant agencies of the two countries, including the Ministry of Planning and Investment (MPI), has actively carried out activities to realise the commitments reached by the two senior leaders. In which, economic, trade, investment cooperation, digital collaboration, science and technology, and innovation have been identified as important pillars of the new partnership.

Introducing about the MPI’s National Innovation Centre (NIC), the deputy minister said that the centre’s mission is to connect and gather businesses, institutes, schools, startups, investors, and domestic and international agencies and organizations in the innovation ecosystem. He called on BENS to cooperate and exchange experiences with the NIC in its key areas, including smart manufacturing, smart factories, digital content, cybersecurity, environmental technology, medical technology, semiconductor industry, green hydrogen, and artificial intelligence (AI).

Timothy, for his part, described BENS as a non-profit aimed at connecting leading US business leaders to bolster US national security through business cooperation activities.

BENS operates in various sectors such as infrastructure, geopolitical and economic assessments, human resources, and technology transfer guidance. The organisation aims to enhance dialogue and explore investment cooperation opportunities in fields aligned with the comprehensive strategic partnership between the two countries, such as energy, healthcare, semiconductors, and the digital economy.

BENS President and CEO highlighted the US government’s high regard for the cooperation potential with Vietnam, noting the increasing interest of US businesses in the Vietnamese market. He also emphasised Vietnam's potential and advantages, expressing confidence that, based on the foundation of the Comprehensive Strategic Partnership, business investment and trade cooperation between Vietnam and the US would be further enhanced.

Deputy Minister Trung noted that many foreign corporations and businesses are effectively operating and continuing to expand in the Vietnamese market. He urged BENS and its member companies, with their network and influence in the US, to continue to serve as a vital link in promoting cooperation in areas where US investors have extensive experience and strengths such as high-tech projects, electronics, semiconductors, innovation, renewable energy, hydrogen, and human resource development. This, in turn, would contribute to further enhancing economic, trade, and investment cooperation bilaterally in the coming time.

He also expressed hope that BENS’s visit would yield many positive results, opening up new opportunities and cooperation spaces that bring tangible benefits to both sides. The MPI commits to creating favorable conditions for foreign investors in general, and US investors in particular to operate effectively in Vietnam./.

Bao Linh

Ministry of Planning and Investment