Vietnam is the US’s leading partner in Southeast Asia:

11-Jan-2019 Intellasia | Hanoi Times | 6:00 AM Print This Post

Currently, the US is Vietnam’s fourth largest trade partner and the biggest importer.

Vietnam is considered one of the US’s most important partners in Southeast Asia and the bilateral cooperation remains vigorous, the US Ambassador to Vietnam Daniel Kritenbrink has said.

American companies want to expand their business in Vietnam while many others are seeking investment in one of the world’s fastest growing economies, the ambassador said at the meeting with Pham Binh Minh, Vietnamese deputy prime minister and minister of Foreign Affairs in Hanoi on January 8.

Vietnam has facilitated the businesses and offered solutions to issues that the US firms are concerned about such as automobile, agriculture, e-payment, and Law on Cyber Security, the ambassador emphasised.

He affirmed that the multifaceted cooperation would include the connection between countries in the Mekong Sub-region and issues in the South China Sea and the implementation of the United Nations Security Council’s resolutions as well for free marine navigation of all parties.

Politics help enhance economic ties

The Vietnam US two-way trade rose 23 percent in the first ten months 2018. In 2017, the trade value hit more than $50 billion in 2017, 40-fold the figure in 2000.

Over the past years, the two countries have tightened defense and security ties on the basis of mutual respect and support in regional and global forums.

Over the past years, the two sides have joined hands in settling post-war issues including dioxin cleanup with the completion of a dioxin decontamination project at Danang airport and the beginning of another project at Bien Hoa airport, two of the four dioxin hot spots in Vietnam.

The operation of Fulbright University Vietnam is also part of the socio-cultural cooperation between the two countries.

At the meeting, the two diplomats agreed to prepare for the 25th anniversary of the bilateral relations in 2020.

Over the past time, the two sides have exchanged high-ranking visits with the latest meeting between Vietnamese PM Nguyen Xuan Phuc and US vice President Mike Pence on the sidelines of the 33rd Asean Summit in November 2018. In May 2017, Phuc visited the US, marking the first visit of a Southeast Asian leader to the White House after President Donald Trump took the office. In November of the same year, President Trump visited Vietnam.

The US-Vietnam normalisation was marked in 1995. Since then, the multifaceted ties have been improved with the growth in trade value and investment inflows to Vietnam.

Currently, the US is Vietnam’s fourth largest trade partner and the biggest importer of Vietnam. In terms of investment, many giant American names are operating in Vietnam like Amazon, Cisco, Citibank, Coca-Cola, Google, Metlife, Pfiser and Agoda.

More US investors are considering pouring money into aviation, energy, health, and smart city in Vietnam.


Category: Economy, Vietnam

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