Meeting with the WB leader, PM Chinh proposed that Vietnam and the WB focus their cooperation on energy transition and digital transformation; giant transport infrastructure projects such as expressways and coastal roads; projects coping with climate changes in the Mekong Delta and central regions; poverty reduction; and improving healthcare capacity.

He said Vietnam will soon work with the WB in the country to implement specific projects and Vietnam will support the WB to implement pilot policies to ensure the most efficiency of loans. The PM also suggested the two sides continue to simplify procedures and prevent corruption in the implementation of projects.

WB Director General Axel said the bank wants to enhance cooperation with Vietnam during the post-pandemic recovery and development process, particularly in the context that the global recovery is meeting difficulties due to tensions and conflicts in some areas, materials’ price hike and increasing inflation in many countries while national resources reduced during the pandemic prevention and control.

Stressing the viewpoint of multilateral cooperation to deal with challenges, he said Vietnam needs to balance between the huge energy demand for development and sustainable development requirements.

Agreeing with the PM on the fields of cooperation, he affirmed that the WB attaches great importance to supporting Vietnam in the process of becoming an upper-middle-income country and reaching higher steps in the production value.

Receiving Marc Allen, Chief Strategy Officer and Vice President of Strategy and Corporate Development of Boeing Company, PM Chinh said Vietnam will focus on strongly developing the aviation sector in the future and Boeing can participate in developing the aviation ecosystem of Vietnam.

The Government leader spoke highly of the cooperation and support from Boeing and voiced his support for the company’s plan to expand facilities in Vietnam to supply fuels and seek cooperation opportunities in technology.

He proposed the company to open maintenance centres in Vietnam, have long-term cooperation policies as well as provide specific preferential policies to help Vietnamese businesses overcome this difficult time, and make important contribution to promoting the cooperation between Vietnam and the US.

Later the same day, PM Chinh received leaders of the Asia Group, Blackstone, GenX and AES, who expressed their interest in energy transition projects in Vietnam and in investing to support Vietnam realise its COP26 goals in coping with climate change.

The PM applauded their energy transition proposals and briefed them on a number of issues relating to Vietnam’s energy development orientations and electricity planning. He asked them to focus research and investment on wind power, solar power and tidal energy which are energy sources of huge potential in Vietnam.

Ample room for growth in US-Vietnam trade relations: PM

Prime Minister Pham Minh Chinh received US Secretary of Commerce Gina Raimondo in Washington D.C on May 11 (local time), during his trip to the US.

PM Chinh stressed the visit by Party General Secretary Nguyen Phu Trong seven years ago to the US has laid a solid foundation for the bilateral ties, and he appreciated the US’ policy of supporting a strong, independent and prosperous Vietnam.

The Vietnamese Government leader thanked the support of the US Department of Commerce in general and the Secretary in particular in promoting trade between Vietnam and the US in recent times as well as in promptly handling arising issues without disrupting bilateral trade.

He highly regarded the remarkable developments in the economic-trade relations between the two countries, which has increased from 400 million USD in total value in 1995 to reach 112 billion USD in 2021 despite many challenges caused by the COVID-19 pandemic.

He noted that there is still ample room for growth in trade and commerce between Vietnam and the US.

PM Chinh expressed his wish that the two countries’ trade relations continue to develop in a harmonious and sustainable manner, and that more focus will be centred on diversifying supply chains, digital transformation in commerce and investment, and promoting science and technology.

He said Vietnam is committed to continuing to create a fair and transparent business environment, based on the principles of market economy, fairness, harmonised benefits and shared risks, so that US enterprises and investors can be assured when expanding their business activities in Vietnam.

He noted that Vietnam is still a developing economy after decades of war and it needs cooperation from developed countries, including the US, in green finance, technology, human resources. The country is currently prioritising projects with new, clean technology, high added value, digital transformation value, or ones that help link with the global production and supply chains.

For her part, Gina Raimonda said she was impressed by Vienam’s development strides, especially in the 27 years since the normalisation of ties in 1995.

She also highly valued the country’s economic development vision and plan, especially in the areas of digital economy, green economy, and diversification of supply chains. She stated that the US wants to increase cooperation with Vietnam as the country seeks to carry out its commitment towards net-zero emissions by 2050.

The US official said she was pleased with the progress in relations between the two countries, especially in the field of economy and trade.

Gina congratulated Vietnam on the successful control of the COVID-19 pandemic, affirming that the US will continue to support the nation’s post-pandemic recovery, and expressed her pleasure to see that more and more Vietnamese businesses are interested in investing in the US.

On the occasion, PM Chinh and the US Commerce Secretary witnessed the exchange of cooperation documents between the two countries’ agencies and businesses in many fields such as energy, infrastructure, telecommunications, digital technology, climate change response and those that help Vietnam achieve its commitments made at UN COP26.

Source: VNA