Vietnam, US desire stronger partnership in technology, innovation, investment

Vietnam, US desire stronger partnership in technology, innovation, investment

Vietnamese Prime Minister Pham Minh Chinh and US President Joe Biden agreed Monday to make technology, innovation and investment a new important pillar in the US-Vietnam Comprehensive Strategic Partnership.

“One of the focuses of President Biden’s visit is to promote the technology and innovation-centered development of the Vietnamese economy,” the Vietnamese News Agency (VNA) quoted Chinh saying. He indicated that his country has set goals to become a developing country with modern industry and high average income by 2030 and a developed and high-income country by 2045, saying that “science, technology and innovation is one of the main motivations for national development.” He called for investing and opening markets in Vietnam with all partners and companies globally, especially the US, noting that “to create more favorable conditions for enterprises, Vietnam has been focusing on developing human resources, building preferential policies to speed up digital transformation and further develop renewable energy, semiconductor industry, high-tech parks, innovation and financial centers, participating in the global value chain and attracting foreign strategic investors.” Chinh voiced hope to continue receiving poli
tical support from the US government and Biden, in addition to commitments of the US business community regarding capital, science, technology and training human resources to help Vietnam transform its growth model and re-structure the economy towards a green, fast, sustainable and comprehensive one.

He indicated that the Vietnam-US Comprehensive Strategic Partnership represents a new vision and incentive to create new ideas, emphasizing the importance of the cooperation and partnership between the two sides in the spirit of coordinating benefits and sharing risks.

For his part, Biden said that innovation is the key to the two countries’ future, calling on the US and Vietnamese companies to prioritise investment in science, technology and innovation.

Biden praised Vietnam’s recent development accomplishments, stressing that the time has come to both countries to it is time for the US and Vietnam to promote relations in all domains to achieve common prosperity. He called on the two countries and businesses need to work together to boost cooperation in the upcoming period.

Biden noted that the US will cooperate with and support Vietnam to achieve maximum benefits of its potentials, stressing that “cooperation and sharing are not only during the times of favorable development but also those of difficulties and risks.” On Sunday, General Secretary of the Communist Party of Vietnam Central Committee Nguyen Phu Trong and Biden announced elevating their nations’ relationship to a Comprehensive Strategic Partnership “for the purposes of peace, cooperation and sustainable development.”

Source: Kuwait News Agency