Vietnam has great potential to attract high-quality US investment: official
Politburo member, Head of the Party Central Committee's Economic Commission Tran Tuan Anh emphasised the huge potential for Vietnam to lure abundant, high-quality investment from the US at his reception for US Treasury Secretary Janet Yellen in Hanoi on July 20.
Anh affirmed that Vietnam always attaches importance to its relations with the US, saying major achievements and developments in the bilateral ties have brought substantive interests to and matched aspirations of their people.
He noted that Vietnam and the US have signed many important cooperation agreements, and are working actively to form the Indo-Pacific Economic Framework for Prosperity (IPEF), while closely coordinating in regional and international forums like the Association of Southeast Asian Nations (ASEAN), the Asia-Pacific Economic Cooperation (APEC), and the World Trade Organisation (WTO).
He stressed that the bilateral economic ties are thriving with two-way trade hitting a record last year, and expressed his hope that the two sides will deepen cooperation in economy, science-technology, trade-investment, finance-banking, supply chains, infrastructure, logistics, digital economy, green transition, health care, sustainable agriculture, energy transition and environmental protection.
Anh called on the US Department of the Treasury to continue coordinating with the Vietnamese side, and making objective and relevant assessments on Vietnam's monetary policy management, thereby facilitating the bilateral economic-trade-investment ties.
Yellen shared the host’s wish to deepen economic-trade-investment ties, and pointed to the potential for bilateral collaboration in just energy transition, pledging that the US and other partners stand ready to help Vietnam with capital and technology to accelerate the process.
She also suggested Vietnam mobilise multilateral sources of capital to achieve the set targets in this regard.
The Treasury Secretary said the US wants to help Vietnam become an important link in building a diverse, sustainable supply chain, including in the semiconductor sector, and suggested the country take solutions to lure more investment in this field.
The official held that once taking effect, the IPEF will contribute to intensifying trade and investment ties between the two countries.
She also hailed the close coordination between the State Bank of Vietnam and the US Department of the Treasury over the past two years in monetary issues, and showed her support for the Vietnamese central bank’s efforts in modernising monetary and exchange rate policies.