The event, jointly held by the US-ASEAN Business Council, the Vietnamese Embassy in the US and the Ministry of Planning and Investment, attracted the participation of numerous US officials, scholars and policy-makers, representatives from ASEAN countries, and US enterprises, including such renowned groups as Coca-Cola, Caterpillar, Mastercard, ExxonMobil, and United Technologies Corporation. 

 

Speaking at the event, Minister Dung told participants that Vietnam is building a constructive government which considers the business community a driving force for development. 

 

The country is also determined to step up economic restructuring in line with the growth model reform in order to increase the productivity, efficiency and competitiveness of the economy, he added. 

 

The minister affirmed that the pending Trans-Pacific Partnership (TPP) agreement which both Vietnam and the US are members will bring about great opportunities for their enterprises to boost cooperation so as to develop the Vietnam-US relations further. 

 

Vietnam’s participation in the ASEAN Economic Community, the TPP and other new-generation free trade agreements creates no differences for business and investment in the country. 

 

This helps connect a 92-million-people market with an over-600-million-people market of the region and the world market, he noted. 

 

Vietnam’s law system has been also improved, thus helping create favourable conditions for foreign investors, including those from the US, to do long-term business in the country. 

 

Although the process of ratification and approval of the TPP can face difficulties, Vietnam will be consistent in its renewal and integration and keep its door open to US investors and enterprises, he confirmed.

 

Earlier, Minister Dung had a working session with US Trade Representative Michael Froman, during which they gave updates on the ratification process of the TPP in each country. 

 

Froman said that the Obama Government will continue urging the Parliament’s approval of the agreement in the time ahead.