Vietnam Today

At a meeting with the US Department of Agriculture on May 11 in Washington D.C., Minister of Agriculture and Rural Development Le Minh Hoan, who is part of Prime Minister Pham Minh Chinh’s delegation visiting the US, said Vietnam has long considered the country a key partner in agriculture. Trade in agriculture, forestry and fishery products between the two has continued to increase at double-digit rates despite Covid-19, economic recession, and supply chain disruptions. The US remained the largest market of Vietnam’s agriculture, forestry and fishery products in the first four months of this year, with export turnover standing at nearly $4.9 billion, or 27.3 per cent of all exports in the sector.

On May 12, on the sidelines of the ASEAN-US Special Summit, Prime Minister Pham Minh Chinh met with his Singaporean counterpart Lee Hsien Loong. The two leaders agreed to continue cooperation in post-pandemic economic recovery and development, expanding and developing the Vietnam-Singapore Industrial Park (VSIP) and coordinating to make effective use of new-generation free trade agreements (FTAs) the two countries are party to, such as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the Regional Comprehensive Economic Partnership (RCEP).

On May 11, during his working visit to the US, Prime Minister Pham Minh Chinh met with Mr. Axel Van Trotsenburg, Managing Director of Operations at the World Bank, and leaders of major US enterprises and corporations. At the meeting, he expressed his appreciation to Boeing leaders over their cooperation and gave his support to its aircraft being used in Vietnam and its plans to expand facilities in the country, including a warranty and maintenance facility.

A report on the blue economy from the Vietnam Administration of Seas and Islands, the Ministry of Natural Resources and Environment, and the UNDP was released on May 12, presenting blue scenarios in Vietnam’s marine economic development, including six key marine economic sectors. Blue scenarios will bring outstanding benefits in terms of GDP, the GNI of marine economic sectors, and the per capita income of marine workers.

At a meeting with US Treasury Secretary Janet Yellen in Washington D.C. on May 11, Prime Minister Pham Minh Chinh affirmed that Vietnam-US cooperation in finance, currency, and economics and commerce have seen positive development over the years. He added that Vietnam hopes the US will share its experience in developing financial markets, especially the stock market and also the real estate market, in a safe and transparent manner.

At a meeting with US Secretary of Commerce Gina Raimondo on May 11 in Washington D.C. during his working visit to the US, Prime Minister Pham Minh Chinh pledged that Vietnam will continue to create a fair and transparent business environment for US businesses and investors to expand operations in the country. Ms. Raimondo expressed her appreciation of Vietnam’s economic development plan, especially its transformation to a digital economy and a green economy and its diversification of supply chains.