US diplomat praises Vietnam’s international integration efforts

During the event, the US diplomat expressed his belief that Vietnam will make a good development plan on the basis of the market economy and the private economic sector to promote its international integration, thus ensuring domestic economic growth and contributing to prosperity and defence-security in Indo-Pacific region.

The workshop focused on the Indo-Pacific strategy, economic impact on Vietnam and measures to promote sustainable development in Vietnam and regional nations. 

The ambassador said the strategy aims to build a market economy and open investment environment in the principle of supporting, protecting and respecting the right of individuals to invest in this region, including Vietnam. 

The US invested over US$500 million in implementing the strategy in 2018, he said. 

According to the diplomat, US firms have invested in over 1,500 new projects worth more than US$61 billion in the Indo-Pacific region. 

Vietnam and the US have potential for enhancing cooperation in digital economy, information technology, infrastructure and energy, Kritenbrink said. 

Deputy Foreign Minister Pham Quang Vinh said as a member of ASEAN, Vietnam wants to cooperate with other ASEAN nations to promote the regional economic development. 

The US plays an important role in the Indo-Pacific region, while the ASEAN also holds a crucial role for the US, Vinh said, affirming that Vietnam supports the US and strongly pledges to promote sustainable development in the region. 

Vietnam will continue to cooperate with the US at bilateral and multilateral levels in the framework of US-ASEAN strategic partnership to reach common benefit, contributing to the region’s prosperous development, he stressed. 

Vietnam applauds cooperative initiatives to push trade ties between the US and regional countries, including Vietnam, Vinh added. 

Sharing Vinh’s opinion, Chairman of the Vietnam Chamber of Commerce and Industry Vu Tien Loc spoke highly of creativeness, sustainability and inclusiveness of the Indo-Pacific region, saying that he believes the joint efforts of governments and the private economic sector will be key to the success of the Indo-Pacific strategy. 

He underlined the need to enhance dialogues and build specific action programmes to realise the goal. 

Participants in the workshop debated issues related to economic trend in the Indo-Pacific region, financial infrastructure for international trade and e-commerce. 

The US is among the top 10 investors in Vietnam, with about 900 projects worth over US$10 billion. The economic and trade ties between the two countries have witnessed a strong development in recent years. Their enterprises and investors hope to boost trade cooperation not only at the government level but also in the private economic sector.