Vice Chairman of the National Assembly Phung Quoc Hien has expressed his hope that the US-ASEAN Business Council will continue helping connect Vietnamese and US businesses, thus contributing to boosting economic ties between the two countries.

At a meeting with President of the council Alexander C. Feldman in Hanoi on November 30, Hien affirmed that Vietnam will continue the renewal course and uphold external policy of independence, self-reliance, diversification, multilateralization and active integration.

Vietnam is keen on fostering the comprehensive partnership with the US, he said, proposing that the two sides strengthen measures to increase bilateral ties, especially in economy, trade, science and technology, education and training, while focusing on development cooperation.

NA Vice Chairman Phung Quoc Hien speaking at the meeting. Photo: baotintuc.vn

The NA Vice Chairman held that there will be good chances for US firms to enhance investment and business activities in Vietnam, stating that the NA pays much attention to the Trans-Pacific Partnership (TPP) and is discussing the roadmap for the revision and issuance of new laws for the implementation of the country’s TPP commitments.

Vietnam is willing to work for the early approval of the deal as well as full implementation of commitments once the TPP is ratified by all parties and becomes effective, he said.

The NA Vice Chairman also suggested that the Government and congress of the US pay more attention to the TPP, while recognizing Vietnam’s market economy regulations.

Congratulating the US on the successful election of its 45th President, Hien stated that Vietnam is willing to cooperate with the new US President and Government.

On his part, Feldman lauded efforts of Vietnam in building laws to create favorable conditions for the country’s business environment.

With 150 members who are multi-national groups and companies, the US-ASEAN target is to equip small- and medium-sized enterprises (SMEs) with more knowledge and inspire them in conducting startup, he said, adding that the council has run an online institute for ASEAN firms.

Responding to the call of the ASEAN Economic Ministerial Meeting 2010, the council has launched a program for SMEs in ASEAN, said Feldman who noted that US-ASEAN program for the strengthening of competitiveness of ASEAN SMEs has offered training courses for more than 5,000 regional firms so far.

He also lauded the efforts of the Government and the NA of Vietnam in improving the business environment and backing foreign investors. He pledged to work harder to bolster cooperation between the US and the ASEAN member countries, including Vietnam, especially in economy.

Source: VNA