Vietnamese PM calls for stronger trade, investment ties with US

24 Jul '23

1 min read

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Insights

Vietnamese Prime Minister Pham Minh Chinh recently proposed to strengthen investment and trade ties with the US at a meeting with US treasury secretary Janet Yellen in Hanoi.
He suggested promoting cooperation to raise the resilience of supply chains, promote expansion of US business investment and sought support to develop Vietnam's renewable energy sector.

Vietnamese Prime Minister Pham Minh Chinh recently proposed to strengthen ties with the United States, especially in investment and trade, at a meeting with US treasury secretary Janet Yellen in Hanoi.

He suggested promoting cooperation to raise the resilience of supply chains and promote expansion of US business investment in his country, prioritising high technology.

Vietnam wishes for a comprehensive partnership with the United States and cooperate in a variety of sectors, especially banking and finance, the prime minister was quoted as saying by a Vietnamese media outlet.

Trade turnover between the two sides reached more than $123 billion last year. The United States ranked 11th among 142 countries and territories investing in Vietnam.

The State Bank of Vietnam and the US department of treasury should continue to maintain a mechanism to resolve issues through dialogue and exchange, Chinh proposed.

He suggested promoting cooperation in responding to climate change, emphasised implementing the Declaration on establishing the Just Energy Transition Partnership (JETP), and requested the United States to support his country in developing its renewable energy industry and domestic carbon market to connect with the global market.

Fibre2Fashion News Desk (DS)

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