Vietnam and US Foster Technology Cooperation: Boosting Innovation and Trade

Vietnam and US Foster Technology Cooperation: Boosting Innovation and Trade

Vietnam and the United States are strengthening their technology cooperation in a bid to foster innovation and drive trade. The two governments have been urged to further enhance connections between people and businesses in the field of technology application and development, with a specific focus on areas like semiconductor technology, remote sensing, artificial intelligence, and big data. The aim is to develop high-quality human resources that meet the demands of businesses in both countries.

During the Vietnam-United States business forum on Technology and Innovation cooperation, held in San Francisco, California, Prime Minister Pham Minh Chinh highlighted the progress of Vietnam-United States relations. He emphasized that the comprehensive strategic partnership between the two countries, recently announced by US President Joe Biden and Party General Secretary Nguyen Phu Trong, is a testament to the joint efforts made by both nations, including businesses.

Prime Minister Chinh underscored the vital factors that contribute to creating a favorable investment and development environment for businesses. He pointed out that Vietnam is actively building a socialist democracy, a socialist law-governed state, and a socialist-oriented market economy. These efforts prioritize people as the core driving force behind development, without neglecting justice, social security, or the environment in favor of mere economic growth.

After almost four decades of reforms, Vietnam has made significant achievements and now ranks among the world’s top 20 largest international trade economies and top 40 largest economies overall. Prime Minister Chinh expressed his desire for continued collaboration between enterprises from both countries, as Vietnam sees the success of investors as its own success. He encouraged US firms to invest in Vietnam and help the country integrate into global supply chains, particularly in the fields of science, technology, and innovation, in order to achieve mutual benefits.

Both Vietnamese and US enterprises participating in the forum agreed that the establishment of the comprehensive strategic partnership, with a focus on technology, innovation, and investment, marks a pivotal moment for strengthening investment cooperation between the two nations. They recommended that the two governments facilitate connections between businesses in terms of technology production and application, innovation development, semiconductor technology, remote sensing technology, artificial intelligence, and big data. Furthermore, they stressed the importance of training high-quality human resources to support enterprise growth.

Prime Minister Chinh welcomed the attention given to the Vietnamese market and urged Vietnamese and US enterprises to take tangible actions to implement the comprehensive strategic partnership, resulting in benefits for both countries and their people. He called on US businesses to support a strong, independent, resilient, and prosperous Vietnam, with a particular focus on trade, services, science and technology, innovation, digital technology, energy transition, the circular economy, and the sharing economy.

The Vietnamese Government is open to all enterprises that wish to invest and conduct business in accordance with the law, ensuring stability and effectiveness. Prime Minister Chinh highlighted that this approach is the best way to heal past wounds, move forward, and work together towards a brighter future.

During the forum, Prime Minister Chinh and other delegates witnessed the signing of cooperation agreements between selected Vietnamese and US companies, further strengthening the partnership between the two countries.

As Vietnam and the United States solidify their technology cooperation, there is great potential for innovation, trade expansion, and mutual benefits. By capitalizing on their strengths and nurturing high-quality human resources, both countries can foster a thriving environment for technological advancement and economic growth.