Vietnam Time

9/22/2018 11:17:25 PM

VUS President hails Vietnamese youth's entrepreneurial spirit

The People’s Police News recently conducted an interview with former Ambassador of Vietnam to US, President of the Vietnam – US Society (VUS) Nguyen Tam Chien on Vietnamese enterprises’ capabilities.

VUS President Nguyen Tam Chien (L) at the book launching ceremony in US. (source: VUS)

Please share with us your feeling when coming back to the US as the President of VUS?

Coming back to US after 4 years, I can see the Vietnam - US relations getting more dynamic. The US is experiencing many changes under President Trump’s government. The economy is growing at an unprecedently high rate of 4%. Investment in manufacturing industry and hi-tech sector is prioritized.

In terms of politics, US is at the mid-term of the election, which can bring about change in terms of the balance of power of the Democratic and Republic party.

VUS delegation’s visit to the US aims to increase meetings with American friends, partners, in the field of people-to-people diplomacy. Coincidentally, on this occasion, the Forbesbook published the book “Competing with giant” by a Vietnamese author named Tran Phuong Uyen. This event has brought the economy and entrepreneurs of Vietnam into the spotlight in US.

Certain Vietnamese billionaires have been honored by Forbes. Do you feel surprised when this is the premier time a Vietnamese entrepreneur's book, depicting a challenging journey of a Vietnamese enterprise in the competition with business giants, is published by ForbesBooks?

The publication of a book writen by a Vietnamese young female entrepreneur should be appreciated. This has proven the astounding progress of the Vietnamese economy and the spirit of striving to be better of Vietnamese enterpreneurs, especially the young people, which have been catching the attention of the US and the world recently. Those events help the US gain more insights of the Vietnam, and take account of seeking opportunities to cooperate with Vietnamese firms, contributing to the increase of more win-win partnership in this critical period.

The ambition and determination to integrate with the global business, the entrepreneurial spirits to conquer the world market like those of young Vietnamese CEOs like Tran Uyen Phuong should be greatly endorsed.

US is an important partner of Vietnam, a country where we can learn from and cooperate with in many advanced fields. If more Vietnamese firms can enter the US market, it will create a driving engine for the Vietnamese economy to grow.

When talking about the efforts of Vietnamese people, people often mention the iron will which helps Vietnam overcome all challenges in resistant wars for national defense and reunification. Do you think this spirit should be promoted in the global-integration playground nowadays?

I share your viewpoint. Promoting self-reliance spirit of the people in development is something which needs to be done, because of several reasons:

First of all, the current condition for growth is favorable for Vietnam. Vietnam is a stable country, which is performing well in the integration process. The country is unlocking new markets.

Secondly, we are securing a high position in a dynamic region.

Thirdly, the world is entering a period of rapid growth in terms of new technology. More opportunities to grow in high-productivity and high-efficiency fields will come to countries which can fastly adapt.

In this context, if we can endorse the dynamism and talents of Vietnamese people, more robust and rapid progress will be achieved.

Therefore, against the backdrop of economic change and new technology, we should take timely action to conquer advanced markets. 

What do you want to say about the prospect of Vietnam-USA bilateral trade, which have been witnessing robust growth.

Vietnam – US ties have started to thrive rapidly since the year 2001 when the Vietnam – USA Bilateral Trade Agreement began to take effect.

Twoway trade value continued to grow at a high rate, from nearly USD 1 billion in 2000 to USD 50 billion in 2017. It was a big leap.

We are confident about the current capability and potentials of Vietnam in taking part in trade, business cooperation with other countries, including the US.

There are many made-in-Vietnam products which US consumers demand, but are not produced in the US, or the quality of Vietnamese products is better. For instance, despite the US also raises catfish but the Vietnamese catfish is more tasty and affordable.

Vietnamese catfish have undergone 13 time of lawsuit in US, but its annual export value is still at nearly USD 2 billion. It means if we know where to place our priority, we can surely show the world the quality and competitiveness of Vietnamese goods and commodities.

On the other hand, we all understand that, once we take part in business activities, conflict of interest will be inevitable. The most important thing is to make sure both side can reap the benefit, complement each other,  and together can come up with a solution to settle any conflict that takes place.

As we are talking about the catfish, it reminds me of the book “Stories told by diplomats”, in which you provided in-depth sharings about how Senator John McCain help Vietnam's catfish when you were the Ambassador of Vietnam in US.

Talking about exporting catfish to US, I would like to recall the precious support of the late Senator McCain. He is a national-level strategic politician of the US, who advocate and pay vast attention to the normalization process and the development of relations with Vietnam.

In a specific case like catfish export, McCain takes account of settling lawsuits in a fair way, otherwise it will negatively affect the trust and cooperation of two sides. On this occasion I’d love to convey my condolence to his family members, and gratitude toward his contribution to Vietnam – US ties.

What is your advice for Vietnamese enterprises when working with US partners?

I think the policy under President Trump’s regime emphasize 'fair and square'. It is the American style of doing business. What doesn’t benefit US, US won’t get involved in, but will make adjustment, instead.

Therefore, in terms of economics, settling down interest conflict is of great importance. That's the reason I think we should follow up with the changes in US government’s policy which directly affect Vietnamese business to respond to them appropriately.

Hence Vietnamese business should ensure sufficient understandings of its' competitors, partners and customers as well as its own core competency.

Secondly, make sure that you are aware of the change in business culture and law of the US.

Thirdly, following the rule of win-win cooperation will sustain the partnership.

Last but not least, every measure taken to settle down conflicts must be made on the basis of fairness.

Thank you so much!

  ( Translated by Phi Yen )
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