American businesses believe that the Covid-19 pandemic will soon be controlled and Vietnam can sustainably reopen the economy.
The comment was stated by the representatives of American businesses from the US – ASEAN Business Council. The Council had a meeting with the Chairman of the National Assembly of Vietnam – Vuong Dinh Hue on September 30. The meeting was held online in Vietnam, the US, and some ASEAN countries.
Chris Helzer, Vice President of Global Trade at Nike, said he is “very pleased that some factories in the South are reopening” after a hiatus period due to the pandemic.
Vice President of Nike said that, as the rate of vaccination is increasing, Vietnam is transitioning to a phase of safe adaptation, living together with the Covid-19, reopening on a broader scale with more factories and higher capacity… These actions help Vietnam gradually regain growth momentum, restore production and business, and support supply chain operations.
Chris Helzer emphasized there is no subsidy or tax reduction as important as allowing a broad and sustainable reopening on the basis of prioritizing vaccination for workers. This reopening needs to be simplified and harmonized across provinces and localities.
“Consistency and harmony are very important. I believe Vietnam can control it without having to be under lockdowns for too long” he said.
With the same opinion, a representative of CropLife Vietnam – an enterprise in the agricultural sector – also said that the Government’s transition from a prevention state to living alongside with Covid-19 and coming up with a plan to reopen the economy gives them more confidence to invest and do business in Vietnam.
The representative of CropLife Vietnam commented that the reopening of the economy and re-establishing a “new normal” should be “synchronized, substantive, and implemented as soon as possible with agricultural and food production activities”.
Mr. Ted Osius, President and CEO of USABC welcomed the Vietnamese Government’s efforts to support people and businesses to overcome difficulties amid the pandemic, and the new approach to responding to the pandemic. He implied that the US business community will support Vietnam’s dual mission of fighting the pandemic and restoring economic development.
“We are committed to helping Vietnam overcome the pandemic and return to the new normal. The US business community looks forward to working with the Government to maintain production activities, create jobs, and promote economic development.”, Mr. Ted Osius emphasized.
Noting the recommendations of the American business community, Mr. Vuong Dinh Hue stated that Vietnam is shifting its strategy towards living together and safely adapting to Covid-19. Vietnam wants businesses to continue sharing the world’s best practices in responding to the pandemic while still ensuring to keep the disease under control and balance health – economic – social benefits.
In addition, the National Assembly and the Government are also trying to develop a unified strategy and policy framework to restart socio-economic activities for synchronized application for all levels, and be flexible with each locality and each business. The National Assembly Chairman hoped that American businesses would give suggestions for Vietnam in completing this policy framework.
With ideas related to tax reduction, extension, and postponement, Mr. Hue stated that this support policy gives more support to businesses, not only extending and delaying taxes but also helping businesses that are losing money, facing cash flow shortages, or providing cash support to employees and employers.
About the legislative work, he said, the National Assembly will institutionalize new policies such as green economy, digital economy, circular economy; piloting new models (sandboxes) on a national scale.
The National Assembly will also pay more focus to promote the equitization of public non-business units, divestment of state capital in enterprises; remove bottlenecks and obstacles in the field of public and private investment, amend and complete the Land Law.
The legislative body will also continue to pay attention to the supervision of the Government’s activities, further strengthening the accountability to organizations and individuals. Therefore, the National Assembly Chairman hoped that US businesses and the US-ASEAN Business Council would further strengthen policy dialogue in the direction of a win-win situation for both the Government and businesses.
Furthermore, one of the driving forces for Vietnam’s economic growth in the next period is to rely more on science, technology and innovation, with people being the most important factor. Building and creating a startup ecosystem, an ecosystem for innovation in Vietnam is a major concern to the National Assembly and the Government of Vietnam. Therefore, the National Assembly Chairman said, Vietnam hopes businesses to continue giving suggestions about this area, especially on digital transformation and digital economy development.
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