Socialist Republic of Vietnam

U.S. Ambassador to Vietnam Michael W. Marine in his recent interview with Vietnam Investment Review affirmed that he was very optimistic about multifaceted relations between Vietnam and the U.S. Excerpts:

Question: How do you see the relationship and future prospects for bilateral relations. What will you do next year to strengthen the relationship between the two countries?

Answer: This year is a very important and symbolic time in the bilateral relationship between Vietnam and the U.S. 2005 not only marks the 10th anniversary of the normalization of bilateral relations, but also the 30th anniversary of the end of the war.

Since the normalization of relations in 1995, we have created significant ties in the areas of trade and investment, culture, security, health and education. This is still a young, developing relationship, but I am very optimistic about the prospects for bilateral relations.

My responsibility, and the responsibility of my staff in Vietnam, is to help minimize distrust between our two countries by maximizing communication, fostering understanding and supporting activities that build ties between our two countries.

Question: Can you suggest any prospect for Vietnam-U.S. economic and trade relations in the future?

Answer: As a relatively new economic partner, Vietnam offers unusually promising prospects for greater interaction with the U.S. The country’s large population is highly energetic and entrepreneurial, devoted to education and training and very young.

Encouraged by the success of the BTA, the US has been actively supporting Vietnam’s efforts to become a member of the World Trade Organization this year. There is every reason to expect that two-way trade will continue to grow and that more and more U.S. investors will be interested in exploring new opportunities in Vietnam.

Question: U.S. investment in Vietnam is still very modest compared with the two countries' potential and strength. In your opinion, what should Vietnam do to attract more U.S. investment?

Answer: To attract investment from the U.S., the Vietnamese government must reduce the cost of investing in Vietnam. When looking at investment options, U.S. companies must take into account the cost of bureaucratic inefficiency, unpredictable taxes and fees, onerous licensing and regulatory obstacles and corruption. Vietnam is still considered a relatively more expensive and riskier investment destination because these problems exist more frequently in the country than they do in many other competing investment locations. Vietnam is addressing these problems, but the government must speed up and intensify such efforts.

At the moment, U.S. firms are most active in Vietnam in projects related to infrastructure development such as oil and gas production and the aviation sector. We would like to see greater opportunities for U.S. companies to develop across a full range of commercial sectors, including financial services, telecommunications and distribution activities.

Question: What do you hope to achieve during your term and what goals have you already realized?

Answer: First and foremost, my goal as ambassador is to expand bilateral relations by deepening mutual understanding and broadening the scope of our two nations’ cooperative ties. I believe that only through mutual respect and understanding can the governments and peoples of our two countries fully realize the potential of our two countries’ relationship.

During my tenure here, I would like to find effective ways to encourage the government to continue to address the Vietnamese people’s desire for more reforms. I believe that the government’s ongoing efforts to take on problems relating to corruption, waste and mismanagement are welcomed and urgently needed, particularly as Vietnam continues to seek foreign investment to fuel its economic growth. However, I also think that more can be done, and more steps to increase the authority of representative bodies would be a welcome development.

One cooperative area, of which we are very proud of, is in the field of HIV/AIDS care, prevention and treatment. The President’s Emergency Plan for AIDS Relief includes Vietnam as one of 15 priority countries and we expect to provide 25 million USD in assistance this year.

We have seen a lot of progress over the past 10 years, in some cases, in areas that were previously considered too “sensitive.” However, we still have much work to do and we cannot rest on our laurels.

(Source: Vietnam News Agency)
Story from Thanh Nien News
Published: 20 June, 2005, 12:28:39 (GMT+7)
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