President Luong Cuong suggests Costco invest in Vietnam

On the morning of September 21 local time, President Luong Cuong received the leaders of the leading US multinational retail corporation - Costco and the Oregon state congress delegation.

During a meeting with Costco Group CEO Ron Vachris, President Luong Cuong highly appreciated the business results as well as the need to increase the purchase of Vietnamese export goods to put into Costco's distribution system.

President Luong Cuong received Mr. Ron Vachris, Chairman and CEO of Costco Group.

PHOTO: VNA

The President emphasized that Costco Group's initiative in building a strategic cooperation framework to develop production capacity and supply chain is in line with Vietnam's strategic priority in participating more deeply in the global value chain, especially in industries with strengths such as agricultural products, seafood, textiles, footwear and light industry.

Mr. Ron Vachris expressed his desire to continue to work closely with key Vietnamese suppliers to bring products suitable to the market, thereby maintaining long-term cooperation with Vietnamese partners. It is estimated that the import value of Vietnamese goods in Costco's supply chain can reach over 1 billion USD per year with key items such as textiles, footwear, wooden furniture, seafood, cashew nuts and coffee...

The President emphasized that with a population of nearly 100 million and constantly expanding consumer demand, Vietnam will be a destination with great potential; at the same time, he welcomed Costco's proposal to officially establish a presence and make long-term investment in Vietnam.

Stating that Vietnam is steadfast in its policy of deep integration and building an open, transparent and sustainable economy , the President said that Vietnam is committed to accompanying and facilitating Costco in implementing investment forms - from purchasing centers, warehouse systems, logistics to the ability to build regional distribution centers.

Promoting cooperation with the state of Oregon

On the same day, President Luong Cuong received a delegation of Oregon lawmakers led by Congressman Nguyen Ba Loc, Chairman of the Oregon House Economic Development Committee.

President Luong Cuong with Oregon Congressman Nguyen Ba Loc

PHOTO: VNA

At the reception, the President said that this is the time for Vietnam and the US to strengthen the foundation and depth of cooperation, continue to reap positive and substantive results, bring benefits to both countries and actively contribute to peace , stability and prosperity in the region and the world.

Sharing the outstanding achievements in socio-economic and foreign affairs after 50 years of national reunification and 80 years of founding, the President emphasized that Vietnam is aiming for high and sustainable economic growth, implementing two strategic goals for 2030 and 2045, which requires the companionship and support of all countries, including the US and Oregon state.

Assessing Oregon as the "Silicon Forest", one of the leading centers of the US in science, high technology, semiconductors and renewable energy, the President emphasized that Oregon is one of Vietnam's important partners in promoting cooperation to successfully achieve high and sustainable economic growth.

The President affirmed that Vietnam welcomes and is ready to create all favorable conditions for Oregon businesses and training institutions to expand cooperation, investment, research and development in Vietnam; and asked Congressman Nguyen Ba Loc and other members of the delegation to continue supporting the Vietnam-US bilateral relationship, enhancing economic-trade, science-technology and innovation cooperation.

At the same time, support Vietnam in developing green economy, semiconductor industry, training high-quality human resources, meeting the requirements of sustainable development and integration into the global supply chain; support and promote the US to soon recognize Vietnam's market economy status and remove Vietnam from the list of countries restricting high-tech exports.

On this occasion, the President asked the congressmen to continue to encourage the Vietnamese community in Oregon to promote the tradition of solidarity, turn towards the homeland, and actively contribute to the development of Vietnam and the relationship between the two countries.

The Oregon Congressional delegation expressed their strong impression of Vietnam’s achievements in dynamic development and deep international integration. The congressmen said that Oregon is very interested in promoting cooperation with Vietnam in areas of strength.

The congressmen affirmed that they will continue to support the expansion of cooperation with Vietnam, consider the possibility of organizing trade promotion programs, academic connections, people-to-people exchanges, as well as welcoming delegations at all levels from Vietnam to visit Oregon in the near future. The delegation also pledged to continue accompanying the Vietnamese community in the state, supporting the protection of rights and creating conditions for overseas Vietnamese to effectively play the role of a bridge between the two countries.

Source: https://thanhnien.vn/chu-tich-nuoc-luong-cuong-de-nghi-costco-dau-tu-tai-viet-nam-185250922012907622.htm