Finance Minister Dinh Tien Dung.

The conference held recently in the US by the Ministry of Finance and US partners wants to clarify Vietnam’s consistent policy of developing the market economy and the wish to attract more foreign investment, especially that from the US, according to Finance Minister Dinh Tien Dung.

In an interview granted to the Vietnam News Agency in early July, the minister said the investment promotion conference also aims to update US investors on Vietnam’s economic reform, particularly the efforts to fine tune institutions, mechanisms and legal framework to facilitate foreign investment, citing the Government’s Decree 60 as an example.

The message of the conference, which took place in New York on July 1-4, was to build more intensive and comprehensive partnership in the fields of finance and capital market of Vietnam and the US for mutual benefit, he said.

Looking back at the Vietnam-US economic relation over the last 20 years, Dung said the bilateral ties recorded positive development, especially in economics, investment, finance and trade.

The US is one of the 10 largest foreign investors in Vietnam, with an increasing number of US firms operating in Vietnam such as JPMorgan Chase, CitiGroup, Goldman Sachs, and Morgan Stanley.

In terms of trade, Vietnam has become the largest ASEAN exporter to the US market.

Economic ties between the two countries will be likely to witness strong breakthroughs in the coming time, Dung commented, citing favourable conditions such as the upcoming Trans-Pacific Partnership agreement to which both Vietnam and the US are members, and the strengthened comprehensive partnership between the two countries.

Source: VNA