During the talks, PM Chinh suggested that, on the basis of the positive cooperation results attained so far, DFC continue to support Vietnam in areas such as green transition, circular economy, renewable energy, climate change response, digital transformation, and addressing war aftermaths – including the consequences of Agent Orange and the search for the remains of martyrs, as well as promoting development in the new period.

The Vietnamese Government leader also proposed promoting cooperation in sustainable development of the Mekong River against the backdrops of rising sea level, so as to improve the material and spiritual life of people in the region.

Along with existing mechanisms, the PM hoped the two sides will study and implement new cooperation mechanisms with countries in the region, including financial incentives in infrastructure development.

Vietnam is a developing country that is still having to deal with the lasting consequences of the war, and it would benefit from DFC’s provisions of loans with preferential interest rates and flexible procedures – including financial incentives for small- and medium-sized enterprises, PM Chinh said.

He said the two sides should pick key projects with ‘spillover effect’ such as regional connectivity projects to help achieve the highest efficiency of the capital used.

Appreciating the potential and prospects of economic cooperation with Vietnam, the CEO of DFC said that many cooperation projects between the two sides have been carried out very effectively and in the coming time, DFC looks forward to promoting cooperation in the fields of climate change response, renewable energy, development of the Mekong River region, and inclusive development finance.

On the occasion, PM Chinh witnessed the handover of DFC's grant worth 70 million USD to Fulbright University in Vietnam.

Vietnam sees economic ties with US as driver for stronger partnership: Prime Minister

The Government of Vietnam views the economic, trade, investment and financial relations with the US as a strong driver for boosting the bilateral comprehensive partnership, Prime Minister Pham Minh Chinh told US Trade Representative Katherine Tai in their Washington D.C meeting on May 12 morning (local time).

Chinh welcomed the US’s support for a strong, independent and prosperous Vietnam, saying Vietnam is pursuing a foreign policy of independence, self-reliance, multilateralisation and diversification of international relations.

Vietnam considers the US one of its top partners, the PM said, adding that Vietnam wants to together with the US deepen the bilateral comprehensive partnership and make it more practical and stable in the long term, on the basis of respecting each other’s independence, sovereignty, territorial integrity and political system, contributing to the global and regional peace, stability, cooperation and development.

He went on to say that Vietnam’s economy is growing well as it has entered the post-pandemic “new normal” phase thanks to the international donation of COVID-19 vaccines, a large volume of which came from the US via the COVAX Facility.

He expected enterprises of both sides will further enhance cooperation based on the harmony of interests and the sharing of risks and affirmed that Vietnam will continue developing an independent economy; deepening international economic integration; and promoting a selective investment policy, advanced technology, digital economy, renewable energy and diversification of supply chains.

The Vietnamese leader also highly spoke of the Office of the US Trade Representative’s efforts in accelerating trade between the two countries and resolving issues to prevent the two-way trade from disruptions. 

He expressed his delight at the growth of the bilateral economic-trade relations, noting that the US’s exports to Vietnam reached 15.3 billion USD in 2021, up 11.7 percent from the previous year, making Vietnam the US’s leading trade partner in Southeast Asia. 

He also welcomed the Office of the US Trade Representative’s attention to Vietnam’s concern over anti-dumping investigations on goods originating from Vietnam and looked forward to the US’s effective cooperation in this matter.

Vietnam hopes the US will facilitate Vietnamese exports and is ready to discuss with the US about its concerns anywhere and anytime, Chinh said.

US Trade Representative Tai, for her part, reiterated that the US will continue supporting Vietnam’s recovery post-COVID-19. She also highly valued the PM’s visit to the US, saying it marks a milestone for further strengthening the comprehensive partnership between the two sides.

She appreciated Vietnam’s commitments in its action plan as well as the effective operation of working groups in wood and monetary issues, saying she expects the two countries can foster the economic, trade, investment and financial relations more strongly and maintain a stable framework of trade and investment towards sustainable trade balance.

Source: VNA