Provincial leaders attend a roundtable connecting businesses and localities in Vietnam and the United States

Published on 17 - 11 - 2023

On November 15 afternoon, local time, in the city of San Francisco (USA), in the program of attending the Asia-Pacific Economic Cooperation (APEC) Leader’s Week 2023 and combining activities bilaterally in the United States, President Vo Van Thuong attended and spoke at the roundtable connecting Vietnamese and US businesses and localities. In the attendance were US Ambassador to Vietnam Marc Knapper, President and CEO of the US-ASEAN Business Council Ted Osius; leaders of ministries, branches, localities and businesses of the two countries wanting to explore cooperation opportunities.

On the side of Hung Yen province, the discussion drew the attendance of comrades: Nguyen Huu Nghia, Member of the Party Central Committee, Secretary of the Provincial Party Committee; Tran Quoc Van, Deputy Secretary of the Provincial Party Committee, Chairman of the Provincial People's Committee.

Provincial Party Secretary Nguyen Huu Nghia speaks at the roundtable

At the discussion, President Vo Van Thuong, the Vietnamese high-ranking delegation and US officials witnessed the awarding ceremony of cooperation agreements between ministries, branches and localities of the two countries in a number of fields such as: Education and trainning; reduction of greenhouse gas emissions; development of industrial parks; urban areas and ecotourism; consumption of agricultural products; incubating human resources for IC design; seaport infrastructure; artificial intelligence; development of renewable energy...

Notably, at this event, Saigon Telecommunication and Technologies Corporation (SaigonTel) and Kinh Bac Urban Development Group signed a cooperation agreement with localities and businesses of the two countries. In particular, there is a cooperation agreement between the People's Committee of Hung Yen province, SaigonTel and Allotrope Parts Company on the cooperation, research and support of Hung Yen province in net emission reduction.

At the round table, Provincial Party Secretary Nguyen Huu Nghia delivered an important speech introducing the potentials and opportunities of Hung Yen province in promoting economic, investment and trade cooperation between Vietnam and the United States.

Introducing the province's potentials and advantages, Provincial Party Secretary Nguyen Huu Nghia shared that Hung Yen fully meets the conditions for industrial development, especially high-tech industry, urban development, and modern services, because of five outstanding attractive factors, which are: Hung Yen has a favorable geographical location; the cultural land with many historical marks, rich cultural traditions and as once a famous trading port of Vietnam; the economy is developing dynamically and at a fast pace thanks to efforts to reform administration, improve the business environment, and bolster the attraction of private investment and FDI; the socio-economic infrastructure, trade, services, logistics, energy, clean water, healthcare, education, training, and environmental protection are being heavily invested and developed synchronously; convenient, rapidly developing and highly connected transportation system; young, abundant, high-quality, intelligent, and diligent human resources meet the demand for high-quality labor for high-tech application projects in the province.

Provincial Party Secretary Nguyen Huu Nghia affirmed that Hung Yen province is transforming its economic structure towards industry and services. In GRDP, industry accounts for 62.1%; services account for 30.9%; agriculture and fisheries account for 7%. In recent years, the business environment and competitiveness of the province have improved rapidly along with promoting administrative reform, improving the quality of public services and people's satisfaction. In the two years 2021-2022, the provincial competitiveness index increased 39 levels, to 14th/63 provinces and cities in the country. In 2022, the People's Satisfaction Index of Public Administrative Services (SIPAS) ranked 6th out of 63 provinces and cities. Thanks to the improvement of the investment and business environment, Hung Yen is currently receiving great attention from domestic and international investors.

As of October 31, there are 2,182 investment projects with a total registered capital of more than 20 billion USD, including 536 FDI projects with the registered capital of 6.76 billion USD. The total number of enterprises is 16,224 enterprises with a total registered capital equivalent to 8.31 billion USD, including 405 FDI enterprises with a registered capital equivalent to 1.9 billion USD. However, current investment by US businesses in Hung Yen is still modest, with only five businesses with the registered capital of 31.5 million USD...

Provincial Party Secretary Nguyen Huu Nghia emphasized that the strategic development goal of Hung Yen to 2030, with a vision to 2045 is "Building Hung Yen into a modern industrial province, highly efficient agriculture, rapid and sustainable development on the basis of harmoniously combining three pillars of rapid economic growth - building a harmonious society - protecting the ecological environment. Not to attract investment or growth at all costs, resolutely not trade off growth with social inequality and environmental pollution.

Provincial Party Secretary Nguyen Huu Nghia said that the province's development strategy is based on three main pillars, as follows: Developing high-tech industry, clean industry, low carbon emissions, using few resources; Developing trade and services with great added value; Developing urban economy on the basis of accelerating the pace of urbanization, forming a modern urban system with synchronous and highly connected infrastructure, with a focus on ecological, smart and worth living cities; industrial and service urban areas associated with ensuring social housing for laborers and workers.

To orient the province's investment attraction and industrial development strategy in the direction of prioritizing investment attraction in such projects as: Mechanical manufacturing, production and assembly of cars, car components, aircraft, aviation equipment, construction equipment, energy equipment, electrical equipment, medical equipment; production of materials, especially new materials; research and production of digital technology products; manufacturing robots, integrated equipment for automatic operation, remote control...

Secretary of Hung Yen Provincial Party Committee pledged to create the most favorable conditions for investors; determine to build a strong government that operates effectively, efficiently, responsibly and always accompanies people and businesses; always listens to and promptly handles arising difficulties and problems; takes the interests of people and businesses as the center; constantly strives, innovates, and serves better so that people can have an increasingly better life and for a business environment that is increasingly more favorable for businesses.

Hung Yen province commits to unremitting efforts in creating a safe, open, effective investment environment and continuously improving provincial competitiveness with simple administrative procedures, preferential policies, the highest investment support within the framework of Vietnamese law to make Hung Yen truly a safe destination and the most reasonable choice for investors in general and American investors in particular.

“We determine that businesses and investors are an important force together with the government to realize the goal of building Hung Yen to truly become a modern, rich, beautiful and civilized industrial province. We do everything the law allows to bring success to businesses based on the philosophy that the success of businesses and investors is our prosperity", Provincial Party Secretary Nguyen Huu Nghia said.

On this occasion, Chairman of the Provincial People's Committee Tran Quoc Van shared with Vietnam News Agency's reporters in Washington on the calling for US businesses to cooperate and invest in Hung Yen province.

Awarding a Memorandum of Understanding (MOU) of cooperation agreement between Hung Yen Provincial People's Committee, SaigonTel and Allotrope Parts Company

Comrade Tran Quoc Van emphasized that the role and potential of US businesses are huge in promoting local socio-economic development. During this trip accompanying the State President, Hung Yen province signed cooperation agreements with four US partners in the fields of semiconductors, high-tech industry, agricultural product consumption and waste treatment. Hung Yen province hopes that in the near future, US businesses will come to invest and promote trade in the province.

According to Mr. Tran Quoc Van, Hung Yen province has a favorable geographical location and synchronous infrastructure. Industrial parks are located on major traffic routes, adjacent to Hanoi Capital, connecting to the Hanoi-Hai Phong highway, which is a favorable condition for foreign businesses and investors in general and US businesses in particular to invest in Hung Yen in the near future.

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