At the opening ceremony, Mr Phuc said Vietnam considers US businesses important to its economic growth. The forum is expected to boost Vietnam-US investment and trade relations.

Ambassador Michalak said the forum will help businesses from the two countries share information and gain a better understanding of each other’s legal environment and business practices.

VUBF President Dang Thi Hoang Yen said the forum’s main functions will be to develop public and private dialogue channels to discuss market policies, persuade relevant agencies on both sides to create a level playing field for all economic sectors and provide a place for businesses to meet, exchange economic information, and seek co-operative opportunities.

In 2009, two-way trade value between Vietnam and the US reached more than US$14 billion, including US$11 billion in exports to the US. Vietnam is an attractive destination to US investors. At the end of 2009, the US had over 495 projects in Vietnam worth US$14.5 billion, making it 6^th among foreign investors in Vietnam.