US businesses to invest in transport in Vietnam

On March 14^th, Minister of Transport Nguyen Van The received President and CEO of the US - ASEAN Business Council (USABC) Alexander Feldman and representatives from US businesses.

During the reception, Mr. Alexander Feldman said that two-way trade turnover had increased continuously, to USD60 billion, and expressed his hope that with ASEAN Chairmanship in 2020, Vietnam would continue to play an important part in promoting trade between ASEAN member countries and the US.

Representatives from US businesses such as 3M, Ford and Dow shared about their cooperation and investment programs in Vietnam, adding that they hoped to receive continued support from the Vietnamese Ministry of Transport in traffic safety technologies, provision of airplane engines, reflective paint and smart transport.

Appreciating the attention of US businesses for transport investment in Vietnam, Minister The stressed that many new transport contracts had been signed recently between the two sides. “During the visit to Vietnam and his attendance at the 2^nd DPRK - US Summit by US President Donald Trump, contracts in providing airplanes and airplane engines worth USD21 billion between Vietnamese airlines agencies and US businesses such as Boeing and GE were signed,” he added.

“Vietnam’s recent reception of a Category 1 aviation safety rating (CAT 1) from the US Department of Transport’s Federal Aviation Administration (FAA) is an opportunity for Vietnamese airlines agencies to promptly open direct flights between the two countries, thus making favourable conditions for business, investment and tourism cooperation,” Mr. The went on to say.

He confirmed that the Vietnamese Ministry of Transport always supports US businesses in investing in transport in Vietnam./.