Vietnam and the US can become credible and sustainable partners in agricultural production, for which the Vietnamese Government is committed to addressing business concerns and creating a favorable environment for international investors, including those from the US.

Hi-tech farming in Hanoi's rural district. Photo: The Hanoi Times

Minister of Agricultural and Rural Development Le Minh Hoan gave the remarks during a business matching event between Vietnamese and US farm businesses on May 13 in Washington.

Representatives of businesses, Government agencies, and associations in the agricultural sector from both countries took part in the event, including the US Soybean Export Council (USSEC), National Pork Producers Council and other multinationals.

At the conference, Minister Hoan briefed the delegates on Vietnam’s strategy for agricultural development in the coming time, as well as opportunities and challenges in promoting bilateral trade and investment.

“The Vietnamese Government is committed to ensuring a transparent and favorable business/investment environment for all companies and investors to do long-term business in the country,” Hoan said.

During the meeting, four memorandum of understanding (MoU) were signed between the two sides, including the one on development partners for sustainable agricultural production between Pepsico and Care International for greater food production capacity in Vietnam; the MoU between Bac Giang Province and ERG Group to facilitate the trade of local farm produce; the document signed between furniture producer Moc Thinh Phat and Grasslands Farms on promoting farm exports; and the MoU between Nevist Vietnam and APG on facilitating trade and investment in the agricultural sector.

At the event, businesses from the two companies held meetings to explore business opportunities, as well as chances for US multinationals to take Vietnamese farm produce into the global supply chains.