Vietnam, U.S. further promote financial cooperation

Minister of Finance Ho Duc Phoc holds talks with U.S. Secretary of the Treasury Janet Yellen in Hanoi on July 21.

He said that the two sides have signed many agreements and organised bilateral cooperation activities in the fields of taxation and customs; increased financing for infrastructure development; developed the capital market; and stepped up multilateral cooperation within the frameworks 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 the U.S.’s technical assistance to Vietnam’s Ministry of Finance in many fields.

Phoc emphasized the important role of international support resources, including those from the U.S. Government, to help Vietnam cope with complicated changes and make positive achievements in recent years.

Minister of Finance Ho Duc Phoc speaks at the event.

For her part, Yellen applauded Vietnam's economic development achievements and emphasized the important role that Vietnam has played in restoring and diversifying the resilience of the global supply chain.

On this occasion, she also shared the U.S. Government's priority policies to promote the development of a sustainable supply chain in the context of the world economy's volatilities.

The U.S. official highly appreciated the political declaration on the establishment of the Just Energy Transition Partnership (JETP) between Vietnam and its development partners, hoping that it would be an effective resource to support Vietnam in its energy transition, achieving the goal of net zero emissions by 2050.

Phoc expected that Yellen and the U.S. Department of the Treasury would play an important role in further promoting profound and comprehensive financial cooperation between the two nations.

Source: VNA