(MPI) - A Vietnamese delegation with leaders of Nghe An, Ha Tinh, Thai Binh, and Lao Cao provinces, led by Deputy Minister of Planning and Investment Tran Duy Dong, paid a working visit to the US from May 15-19, aiming to exchange experiences on business development, particularly small and medium-sized enterprises (SMEs), and promotion of digital transformation, innovation, new energy, and digital and high technology.

At the meeting between Deputy Minister of Planning and Investment Tran Duy Dong and Office of the Deputy Mayor for Planning and Economic Development of Washington DC. Photo: MPI

At meetings with a number of American agencies such as: Department of Commerce, Department of State, Small Business Administration (SBA), Office of the Deputy Mayor for Planning and Economic Development of Washington DC, NYC Mayor's Office of Immigrant Affairs (MOIA), and New York City Economic Development Corporation (NYCEDC), the two sides discussed policies on economic development with a focus on small and medium-sized enterprises (SMEs). The two countries boast a lot of similarities on developing training programs and supporting export activities, capital access, innovation and startups, especially having support policies to help businesses recover from the effects of the COVID-19 pandemic.

The American side expressed their impression on Vietnam’s development as well as the country has provided many programmes to support business development, adding that they wish to continue coordinating with Vietnam on this field.

For his part, Deputy Minister Dong suggested the U.S Department of State encourages US enterprises to promote investment in semiconductor industry in Vietnam.

At meetings with some development organisations and financial institutions such as the United States Agency for International Development (USAID), the U.S. International Development Finance Corporation (DFC), the International Finance Corporation (IFC), JP Morgan and NY Green Bank, Deputy Minister Dong shared Vietnam’s orientations on developing the private sector, and asked for continued assistance to realise commitments between the two Governments in supporting this sector, especially SMEs.

He underlined that the Government of Vietnam and the Ministry of Planning and Investment pay much attention to seek investment for green growth, sustainable development and environmental, social and governance (ESG), especially on renewable energy.

He also called for their funding for climate change adaptation projects in the Mekong Delta, supporting SMEs in digital transformation towards sustainable development, and international practices on ESG development. As the National Power Development Plan VIII (PDP 8) is approved, he said the Government of Vietnam encourages international firms increase investment of renewable energy projects and capital mobilisation from the private sector.

The MPI deputy minister also had working sessions with some US universities like Columbia, Fordham and New York Venture Partners to boost innovative startups.

At other meetings between the Vietnamese delegation and some large US companies like IBM, Google, Dell, and SpaceX, these firms said Vietnam remains an attractive destination for US investors. They view Vietnam as a strategic position, and wish to expand their investment in the near future. They also called for continued support from the MPI for their activities in Vietnam.

Deputy Minister Dong said that in order to lure more investment in semiconductors, motherboards, and internet, his ministry is committed to accompanying foreign investors and prompting the Government to have incentives for the successful implementation of these projects./.

Bao Linh

Ministry of Planning and Investment