Seminar seeks to boost Vietnam – US energy, industry, trade cooperation

Deputy Minister of Industry and Trade Nguyen Hoang Long speaks at the event. (Photo: VNA)

He urged participants to share their proposals and opinions, especially those on how to create breakthroughs and identify areas where breakthroughs can be made in energy, trade, and investment cooperation between Vietnam and the US.

Delegates, who have contributed to the development of trade, renewable energy, industrial building materials, solar and wind energy, and infrastructure construction, pointed out challenges and obstacles related to unstable legal frameworks and certain issues related to human resources and opportunity costs that Vietnam needs to address swiftly to attract US investors.

Norman Van Toai, a businessman involved in numerous energy collaboration projects between Vietnam and the US for several decades, said that the energy sector is a key advantage for Vietnam in the context that US investors are shifting production from China to some countries in Asia and Southeast Asia, including Vietnam.

Delegates expressed their hope that the Vietnamese Government will provide policy advice on energy and support for the sector’s supply chain, especially in solar energy, in preparation for this industry’s boom in the US in the coming years.

The MoIT will collaborate with relevant agencies to regularly organise working programmes with the Vietnamese community abroad, aiming to update information, policies, opportunities, and potential for investment and trade cooperation in Vietnam, the official said.

He added that consultation sessions with Vietnamese entrepreneurs, researchers, and scientists abroad on policies in energy, industry, and trade will be also arranged, thus providing recommendations for policy-making and building efficient trade and industry development orientations; and promoting opportunities for cooperation between Vietnamese organisations and businesses with those of the Vietnamese diaspora in the USS, as well as US partners.

Long said similar initiatives will be implemented to strengthen the connection between ministries and sector in the homeland and the Vietnamese community in the US, towards realising trade and investment cooperation aspects in the comprehensive strategic partnership between the two countries./.