(Hanoi) - From March 7 to March 10, 2022, the US-ASEAN Business Council (the Council) led a delegation of 40 leading U.S. companies on the 2022 Vietnam Business Mission. The Council's delegation met with government officials and key stakeholders across several ministries and agencies to reinforce the Council's dedication to supporting Vietnam's COVID-19 economic recovery. During the Mission, the Council reaffirmed its commitment to supporting the implementation of Vietnam’s new Free Trade Agreements (FTAs); addressing key business challenges to improve the investment climate for American companies; and positioning the Council as a resource and partner to Vietnam in its public health response and economic recovery from COVID-19. This year, the Mission was conducted predominantly in person, coming at an opportune time as Vietnam begins to reopen its borders to international travelers. The Mission marked the Council’s return to in-person missions and was co-led by the Council’s President & CEO Ambassador Ted Osius; the Council's Senior Vice President & Regional Managing Director Ambassador Michael W. Michalak; and GE’s CEO and Chair of the Council’s Vietnam Committee, Son Pham.
“U.S. industry is committed to Vietnam and its extraordinary opportunity, especially in the digital sector,” said Ambassador Ted Osius. “Senior Vietnamese officials welcomed our offer to establish a joint Digital Economy Task Force dedicated to supporting Vietnam’s digital economy, which is expected to almost triple in size from US$21 billion to US$57 billion by 2025. Building digital trust between our two countries will not only unleash greater economic growth for Vietnam, but also help us take our bilateral relationship to the next level.”
During the Mission, members highlighted their contributions to Vietnam COVID-19 control and prevention, including through the shipment of vaccines, and introduced digital and financial tools to support safe reopening of the economy, especially for travel and tourism. In addition, members proposed new areas of cooperation and highlighted ongoing initiatives in various sectors including energy, health, digital transformation, and innovation in Vietnam.
“Sustainability was a key theme of this year’s mission, but more broadly it is relevant to COVID-19 recovery in every dimension” said Ambassador Michael Michalak. “I’m glad that we were able to highlight many of the corporate commitments to COP26 and encourage Vietnam to do its part and ensure that a regulatory environment exists where these goals can be met. Hopefully we can further build off the interactions we had during this mission so that by the time COP27 comes around there is a year’s worth of work to show.”
“The American business community highly supports the shift from zero-COVID policy to safe and flexible adaptation to the pandemic policy by the Prime Minister Pham Minh Chinh and the Government of Vietnam,” said Mr. Son Pham. “A delegation of this size demonstrates our commitment to Vietnam and its extraordinary opportunity, and we are eager to support the effort of the Government and the people of Vietnam to keep the country safe and open through our continued donations and initiatives.”
The delegation met with Cabinet members and senior members of the Vietnamese Government, including Prime Minister Pham Minh Chinh, Chairman of the National Assembly Vuong Dinh Hue, Chairman of the Central Party Committee on Economic Affairs Tran Tuan Anh, Minister of Planning and Investment Nguyen Chi Dung, Minister of Public Security To Lam, Minister of Culture, Sports and Tourism Nguyen Van Hung, and many other leaders from related Governmental Agencies.
Companies in the Council’s delegation include 3M, Abbott, AES, Amway, Apple, Bank of America, Bay Global Strategies, Boeing, Chevron, Citi, Coca-Cola, Dow, Energy Capital Vietnam, ExxonMobil, FedEx, Ford, GE, Gen X Energy, Google, GSK, Illumina, KKR, Medtronic International Limited, MSD, MSD Animal Health, Meta, Mondelez, Netflix, Nike, Novartis, Organon, Qualcomm, PepsiCo, Pernod Ricard, Roche, SAP, UPS, Viatris, Visa, Zuellig Pharma.