HCMC — Prime Minister Pham Minh Chinh has pledged to make conditions favorable for U.S. companies to do business in Vietnam as the country seeks to strengthen trade ties with America.
Chinh met with senior executives of U.S. businesses and the U.S. Embassy today, May 13, to address regulatory hurdles and facilitate expansion plans. It was his second meeting with American firms in two months, reported the Vietnam News Agency.
Vietnam and the U.S. recorded US$134.6 billion in two-way trade in 2024. U.S. investors have poured nearly US$11.94 billion into more than 1,400 projects in Vietnam, mostly by large corporations, while Vietnam has 252 projects in the U.S. with combined capital of US$1.36 billion.
U.S. businesses at the meeting called on Vietnam to streamline administrative procedures and resolve issues related to taxes, infrastructure, logistics, and non-tariff barriers. They also urged timely implementation of signed agreements and transparency in product origin rules.
Vietnam has said it would continue reducing tariffs, increase imports of U.S. goods, and support American investment projects.
Chinh said Vietnam supports open dialogue and aims to promote fair and sustainable trade with the U.S. He encouraged U.S. businesses to engage with the U.S. government to help expedite tariff negotiations.
The prime minister reiterated the Government’s stance of creating a supportive business environment and said Vietnam is reforming its visa policy. He also called on the U.S. to ease visa rules for Vietnamese citizens.
