Vietnam's State President Nguyen Xuan Phuc suggested that U.S. businesses strengthen links with and create conditions for Vietnamese businesses to participate in the global supply chain during a high-level seminar with the U.S.-APEC Business Alliance on Thursday.

The event saw the participation of a number of large U.S. corporations and enterprises that have investment and business activities in Vietnam.

Vietnam advocates switching from attracting foreign direct investment (FDI) to cooperating with foreign investors in the spirit of equality for mutual benefit and development, with priority given to hi-tech and eco-friendly projects, President Phuc said at the seminar.

Vietnam is a destination for many major U.S. technology corporations such as Apple, Dell, and Intel, he continued, suggesting that U.S. firms enhance connectivity, making it easier for Vietnamese enterprises to join their manufacturing supply chains.

Representatives from U.S. companies and economic groups spoke highly of Vietnam’s economic growth, FDI attraction policy, COVID-19 response, and political and economic stability in recent years.

They expressed their intention to continue expanding their investments in Vietnam and bring new products and modern technology to the country in various fields such as healthcare, population, digital transformation in finance-banking, smart agriculture, renewable energy, infrastructure, hi-tech, information technology, and research and development.

The Vietnamese leader stressed that Vietnam will step up green growth, digital economy, science and technology, and innovation sectors.

Vietnam will further open its economy, switch to quality and focused FDI cooperation, and help domestic enterprises improve their production capacities in order to join the supply chains of foreign-invested firms, he said, adding that the Southeast Asian country will also strive to create a transparent and favorable business environment in line with new-generation free trade agreements.

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