Ambassador KNAPPER's insights shed light on the multifaceted dynamics of Vietnam's investment landscape and underscore the importance of collaborative efforts in driving sustainable economic growth and prosperity. As Vietnam continues on its development trajectory, initiatives like the PCI and PGI will play an increasingly pivotal role in guiding investment decisions, fostering innovation, and promoting inclusive and sustainable development. With steadfast commitment and concerted action, Vietnam and its international partners can work together to build a brighter future for generations to come.
Journalist: - Sir, the United States has been actively involved in assessing Vietnam's business investment landscape, notably through the Provincial Competitiveness Index (PCI). How would you assess the effectiveness of the PCI as a tool for fostering investment?
Ambassador MARC E. KNAPPER: - The Provincial Competitiveness Index (PCI) serves as a cornerstone for promoting accountability and transparency within Vietnam's provincial governance structures. Supported by the United States Agency for International Development (USAID) since 2005, the PCI has emerged as a vital mechanism for incentivizing provinces to enhance their business climates. By providing a comprehensive assessment of provincial competitiveness, the PCI empowers local authorities to identify areas for improvement and implement targeted reforms. The tangible outcomes of these efforts are reflected in increased investment and economic growth across provinces. Over the years, the PCI has garnered trust and credibility among businesses and policymakers alike, serving as a reliable benchmark for evaluating the investment attractiveness of different regions. As one of the largest investors in Vietnam, the United States recognizes the pivotal role of the PCI in guiding investment decisions and facilitating capital flows towards provinces with conducive business environments.
- Sir, how do you assess Vietnam's current investment and business environment?
- The United States remains steadfast in its commitment to strengthening Vietnam's economic development by fostering an environment conducive to business growth. Vietnam has made commendable strides in improving its investment climate, and the United States stands ready to support further progress in this regard. The elevation of US-Vietnam relations to a Comprehensive Strategic Partnership in 2023 underscores the deepening bilateral cooperation between our two nations. This partnership provides a robust framework for sustained collaboration across various sectors, including economic development. By leveraging this partnership, we aim to contribute to Vietnam's journey towards sustainable growth and prosperity. Through initiatives aimed at enhancing institutional capacity, fostering innovation, and promoting a business-friendly environment, we seek to create opportunities for economic advancement and shared prosperity.
- Alongside the PCI, we've witnessed the introduction of the Provincial Green Index (PGI) in recent years. What significance does the PGI hold for localities, in your opinion?
- The Provincial Green Index (PGI) represents a significant step towards promoting environmentally sustainable development in Vietnam. As businesses increasingly prioritize environmental considerations in their investment decisions, the PGI serves as a valuable tool for evaluating the environmental performance of provinces. Vietnam's commitment to achieving net-zero emissions by 2050, as demonstrated at COP26, underscores the importance of initiatives like the PGI. By providing transparent and reliable information on environmental performance, the PGI enables businesses to align their investment strategies with sustainability objectives. Moreover, it empowers local authorities to implement policies that support green growth and attract environmentally conscious investors. The PGI thus plays a pivotal role in driving sustainable development and fostering economic resilience in Vietnam.
- How do you envision the continued implementation of the PGI in the future?
- The continued implementation of the PGI holds immense potential for promoting sustainable development and attracting investment in Vietnam. As environmental considerations increasingly shape investment decisions, the PGI will become even more instrumental in guiding businesses towards environmentally responsible investments. Moving forward, it is essential to enhance the accessibility and reliability of PGI data, ensuring that businesses and local authorities can make informed decisions. Furthermore, continued collaboration between government agencies, international organizations, and the private sector will be crucial for advancing the objectives of the PGI. By working together, we can leverage the PGI to drive meaningful progress towards a more sustainable and prosperous future for Vietnam.
- Thank you very much.
