Vietnam and the US boost finance cooperation
VOV.VN - Vietnamese Minister of Finance Ho Duc Phoc on July 21 held a working session with US Treasury Secretary Janet Yellen who is in Hanoi for a working visit.
Addressing the meeting, Phoc highly appreciated the positive development of the cooperative ties between the two countries, noting both sides have implemented a number of agreements and cooperation activities across a variety of fields, including taxation, customs, infrastructure finance reinforcement, financing, capital market development.
The two sides have also maintained multilateral cooperation within the framework of the Asia-Pacific Economic Cooperation (APEC) forum, the Association of Southeast Asian Nations (ASEAN), and the Indo-Pacific Economic Framework for Prosperity (IPEF), along with technical assistance from the US to the Ministry of Finance of Vietnam.
Phoc briefed his guest on Vietnam’s macroeconomic situation, and said despite many complicated and unpredictable changes occurring in the world, the Vietnamese economy has achieved positive results.
However, he added that in order to achieve the growth goal, apart from the great efforts made by the Government, Vietnam needs support from international partners, including the US.
In response, Yellen praised Vietnamese economic development and emphasised the important role Vietnam has played in restoring and diversifying the global supply chain resilience. She also shared the US Government's priority policies aimed at building a sustainable supply chain amid multiple global economic fluctuations.
The Secretary appreciated Vietnam joining the Just Energy Transition Partnership (JETP) with the group of 7 (G7), hoping this help Vietnam acquire an effective resource to support its energy transition towards net zero emission commitments by 2050.
Minister Phoc welcomed Yellen’s assessment and reaffirmed the Finance Ministry’s effort to further promote financial ties between the two countries.
He stated hope that the US Department of the Treasury and Secretary Yellen personally would continue to play an important role in promoting the deep and comprehensive cooperation that exists between the two sides in the financial sector.