A delegation of Hoa Binh province led by Vice Chairman of the provincial People’s Committee Quat Tat Liem is joining a working group of the Vietnam Trade Promotion Agency (VIETRADE) under the Ministry of Industry and Trade during a trip to the US from June 21-30.

Vice Chairman of the provincial People’s Committee Quat Tat Liem and members of the Hoa Binh delegation present a souvenir to Bruce Weber, Dean of the Zicklin School of Business, Baruch College-CUNY, in New York.

Within the framework of the visit, on June 24 (local time), VIETRADE in collaboration of Baruch College-CUNY held a Vietnam-US trade and investment promotion conference and a trade exchange programme in New York. The conference drew more than 120 delegates representing the local administration, trade promotion organisations, trade associations and businesses of the two countries.

Addressing the event, Bruce Weber, Dean of the Zicklin School of Business, Baruch College-CUNY welcomed the Vietnamese delegation’s visit which he believed that will create opportunities for Vietnamese, US businesses and students of the school to meet and exchange with each other.

This is also a chance for students of the school to experience practical international trade transactions and business cooperation negotiations between the two countries' businesses, he said.

Addressing the event, VIETRADE Director Vu Ba Phu said that the organisation of the conference at Baruch College not only creates opportunities for Vietnamese businesses to interact with US businesses, but also provides a chance for them to exchange, share experience with and attract the interest of potential students and businesses in the Vietnamese market.

Phu said that the upgrading of the Vietnam-US relations to a comprehensive strategic partnership in September 2023 has a significant meaning, creating a solid foundation for cooperation between the two countries to become deeper and more substantive on all pillars, of which the economic, trade and investment pillar continues to play a central driving role.

The US has been Vietnam's second largest trading partner for many consecutive years and Vietnam's goods exported to the US are diverse, he noted, adding that it is forecast that two-way trade will continue to maintain growth momentum and achieve many positive results this year.

At the event, Quach Tat Liem, Vice Chairman of the Hoa Binh People’s Committee, briefed participants on the socio-economic development situation of the locality as well as areas prioritised for investment attraction.

He highlighted Hoa Binh’s advantages thanks to its location at the gateway to the northwestern region, bordering the capital city of Hanoi and 170km from the port city of Hai Phong. The province has been developing agriculture in a safe and effective direction, while focusing on large-scale commodity production, and closely linking processing industry, tourism, environmental protection, ecology and climate change adaptation.

The official also introduced incentives that the province has offered to investors, including exemption and reduction of corporate income tax and land rent. Hoa Binh prioritises attracting industrial projects producing key products, encouraging the development of preservation industry, deep processing, refined processing, high-tech processing, and clean agriculture, he added.

He expressed his hope that in the near future, US businesses will come to invest and promote trade in the province, committing to creating the best conditions for them in exploring, negotiating and signing contracts with local partners.

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