VIETNAM PLEDGES TO CREATE OPPORTUNITIES FOR US BUSINESSES

HANOI, May 07, 2008 (AsiaPulse via COMTEX) -- -- Prime Minister Nguyen Tan Dung says the Vietnamese government will create all favourable conditions for US businesses to conduct long-term investment in the country and benefiting the two countries.

The Government leader confirmed Vietnam's support at a reception in Hanoi on May 6 for a delegation of US major corporations visiting Vietnam to seek investment and business opportunities.

PM Dung praised the role of the US-ASEAN Business Council for organising the delegations visit and the contributions made by US businesses in boosting bilateral ties between Vietnam and the US .

He said he was delighted by the development in the relations between Vietnam and the US in all fields, particularly in economics with two-way trade turnover reaching close to US$13 billion in 2007. The figure is estimated to reach US$15-16 billion in 2008.

The US is currently Vietnam's biggest trade partner and ranks sixth among countries and territories investing in the Southeast Asian country. Vietnam has received US$5 billion worth of investment capital from US businesses.

The PM pointed to the need for the two countries to conduct negotiations to sign a framework agreement on investment in order to create more opportunities for US businesses to invest in Vietnam.

He said he hoped the US Government will also give import tax priority to Vietnamese businesses.

Leaders of the US businesses pledged to work to foster the commercial and investment relations between the two countries and make the US the number one investor in Vietnam The delegation included 22 US corporations operating in industry, finance, telecommunications and healthcare such as Boeing, Chevron, Conoco Phillips, Exxon Mobil, Ford, IBM, Time Warner and General Electric.

(VNA)

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