U.S. Consulate General economic section chief Alexander Tatsis told a forum in HCMC Thursday that Vietnam continues to play an increasingly important role in international commerce by supplying the U.S. with a spectrum of valuable products, from semiconductors used to manufacture smartphones and cars, to solar panels bolstering the clean energy revolution.

Containers being transported at Cat Lai Terminal in Ho Chi Minh City.

At the same time, Vietnam imports computers, wood, cotton and animal feed from the U.S., he said.

Over the first 11 months of 2022, the U.S. was Vietnam's largest export market, with an estimated turnover of %101.5 billion, up 18% year-on-year, according to the General Statistics Office.

This two-way trade helps Vietnam develop its domestic economy while bolstering exports to markets around the world, said Tatsis, noting that the U.S. wants to invest in helping Vietnam strengthen its long-term presence in the global supply chain.

He added that improving the adaptability along supply chains is a top priority of the Biden-Harris Administration.

The U.S. will facilitate trade and support the enhancement of the competitiveness of the private sector in Vietnam, especially among small and medium enterprises, he said.

U.S. agencies will also help Vietnam's small and medium enterprises improve production capacity, access to financial resources, and digital transitioning.

Tatsis said these efforts will help businesses better participate in the global supply chain for the mutual benefit of the two countries.

Over the last several years, Vietnam has been one of the biggest beneficiaries of the supply chain shift away from China. But this shift has also put pressure on Vietnam's infrastructure and customs operations.

To remedy this, the USAID Trade Facilitation Program, a $21-million five-year project, is working with Vietnam Customs to adjust border clearance procedures and reduce congestion at major ports, including Cat Lai Port in Ho Chi Minh City, the largest container shipping hub in Vietnam.

1,542 businesses and representative offices newly established in Bac Giang

(BGO) – Since early this year, Bac Giang provine has had 1,542 newly established businesses and representative offices, up 22 percent year on year, reported the competent agencies.

Crystal Martin Vietnam honored as outstanding business for labour

(BGO) – The Vietnam General Confederation of Labour has cooperated with the Ministry of Labour, Invalids and Social Affairs, Vietnam Chamber of Commerce and Industry to honor 62 “Outstanding business for the labour in 2022” in Hanoi, including Crystal Martin Vietnam Company Limited in Quang Chau industrial park, Viet Yen district (Bac Giang province).

150 businesses to join survey and talkshow about tourism introduction

(BGO) – The Department of Culture, Sports and Tourism (DCST) in Bac Giang province has cooperated with Luc Ngan district People’s Committee to organize survey and talkshow to introduce tourism product from November 24 – 27, 2022 within the framework of “Sweet fruit season tour” launched by the DCST.

HCMC businesses need 43,000 workers

The HCMC Department of Labor said businesses need to hire 43,000 workers to achieve year-end production targets.

Bac Giang holds dialogues with businesses to improve DDCI

(BGO) - The improvement of the District and Department Competitiveness Index (DDCI) is an important solution to create an open investment and business environment, contributing to improving the Provincial Competitiveness Index. Being well aware of that, departments, agencies and localities in Bac Giang province have actively implemented solutions to improve this index, with priority given to holding direct dialogues with businesses to solve their difficulties, thus winning their satisfaction.

Source: VnExpress