Vietnamese Expatriates Boosting Economy of Vietnam

On the morning of September 18 (local time), Vietnamese Prime Minister Pham Minh Chinh held a reception in San Francisco, United States, to honor the leaders of distinguished overseas Vietnamese enterprises.

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Up to now, there have been 385 investment projects in Vietnam by overseas Vietnamese in the US with a total registered capital of more than 1.7 billion USD and capital contributions to thousands of Vietnamese businesses. This is a significant source of capital that actively contributes to Vietnam’s socioeconomic development.

To develop the resources of overseas Vietnamese businessmen, Prime Minister Pham Minh Chinh stated that Vietnam’s Party and State have guidelines and policies in place that build a foundation for strengthening the great national unity bloc and helping Vietnamese people obtain a solid legal status and a stable living. Many new immigration and labor regulations have been introduced in order to create more favorable conditions for foreign investors, particularly abroad Vietnamese.

Prime Minister Pham Minh Chinh meets typical overseas Vietnamese businesses in the United States. (Photo: VGP/Nhat Bac)
Prime Minister Pham Minh Chinh meets outstanding overseas Vietnamese businesses in the US. (Photo: VGP/Nhat Bac)

On that basis, the PM expects that the Vietnamese business community in the US will continue to make positive contributions to the homeland’s construction efforts, promote the achievements of nearly 30 years of normalization, and capitalize on opportunities created by the ten years of establishment of the Vietnam-US Comprehensive Partnership.

The PM encouraged overseas Vietnamese businesses to pay more attention to the Vietnamese market and collaborate with domestic businesses, serving as a bridge to help Vietnam participate more deeply in the global supply chain, particularly in a number of areas of interest to Vietnam, such as innovation, digital transformation, green transformation, circular economy, sharing economy, and climate change response.

Prime Minister Pham Minh Chinh had breakfast and worked with some typical overseas Vietnamese businesses in San Francisco, USA. (Photo: Duong Giang/TTXVN)
PM Pham Minh Chinh has breakfast and meets some outstanding overseas Vietnamese businesses in San Francisco, USA. (Photo: Duong Giang/VNA)

The Vietnamese government will continue to focus on implementing three strategic breakthroughs in institutions, infrastructure, and human resource development to realize development goals. Thereby, a more favorable environment for Vietnamese enterprises in the US will be created to contribute to the development of Vietnam, as well as the comprehensive strategic partnership between Vietnam and the US.

In response to business recommendations, the PM affirmed that he would record them and direct appropriate ministries and agencies to focus on investigating, reviewing, and developing prompt solutions.

Phuong Nguyen