Vietnam - US promote economic and financial relations on the basis of comprehensive partnership

(Chinhphu.vn) - Continuing bilateral dialogue activities during a working trip to the United States, the Vietnamese Ministry of Finance delegation led by Deputy Minister Cao Anh Tuan worked with many key partners to promote more substantive financial, trade and investment cooperation between the two countries.

Deputy Minister of Finance of Vietnam Cao Anh Tuan had a working session with Mr. Robert Kaproth, Assistant Secretary of the Ministry of Finance in charge of international finance at the headquarters of the US Department of the Treasury.

Strengthening the foundation of sustainable economic and financial cooperation

During his working trip to the United States, on May 14, 2025 (local time), Vietnamese Deputy Minister of Finance Cao Anh Tuan had a working session with Mr. Robert Kaproth, Assistant Secretary of the Ministry of Finance in charge of international finance at the headquarters of the US Department of the Treasury.

This is an important occasion for the two sides to openly exchange views, promote bilateral cooperation in the economic and financial fields, and deepen the comprehensive strategic partnership between the two countries.

At the meeting, Deputy Minister Cao Anh Tuan shared information about the active participation of the Ministry of Finance delegation and more than 100 Vietnamese enterprises at the "SelectUSA 2025" investment conference. With a proactive spirit, the Vietnamese delegation wishes to learn more about investment opportunities in the US, and at the same time expand investment flows from Vietnam to the US market.

The Vietnamese Ministry of Finance also emphasized the importance of building a balanced, sustainable and mutually beneficial economic relationship between the two countries. Accordingly, Vietnam and the United States have a clearly complementary economic structure. Vietnam has a great demand for high-tech products, energy, aviation equipment and agricultural products from the United States. Meanwhile, consumer goods produced in Vietnam at reasonable costs are increasingly becoming a popular choice for American consumers.

With that spirit, Mr. Cao Anh Tuan said that the economic and financial partnership between Vietnam and the United States needs to be raised to a new level, not only bilateral in nature but also a symbol of trust, strength and common prosperity.

"Deepening cooperation mechanisms, from policy dialogue to technical assistance, will contribute significantly to shaping the structure of sustainable financial cooperation in the future," Deputy Minister Cao Anh Tuan emphasized.

On the US side, Assistant Secretary Robert Kaproth highly appreciated Vietnam's reform efforts in the context of global economic fluctuations. Mr. Robert Kaproth affirmed that although the trade negotiations are handled by the Office of the US Trade Representative (USTR), the US Treasury Department is still closely following the process, especially in matters related to financial policy and trade control.

However, Mr. Robert Kaproth also emphasized that one of the biggest concerns today is the trade deficit affecting the sustainability of bilateral economic relations.

"Therefore, the two sides need to actively coordinate to strengthen customs control, prevent origin fraud, illegal transshipment and evasion of trade defense measures," said Mr. Robert Kaproth.

Discussing this issue, Deputy Minister Cao Anh Tuan affirmed that Vietnam has been implementing measures to strictly control trade activities, in order to ensure transparency and fairness in international transactions. The Vietnamese Ministry of Finance is ready to continue to closely coordinate with the United States to effectively handle existing problems, especially in the fields of customs, import and export, and combating trade fraud.

"The Ministry of Finance as well as the Vietnamese Government are ready to discuss this issue with the United States," said Mr. Cao Anh Tuan.

At the same time, the financial sector leader also proposed that the United States create more favorable conditions for Vietnam to access high-tech products as well as increase technology transfer activities. This will not only help promote two-way investment and trade relations but also support businesses of the two countries to access each other's markets equally and effectively.

At the end of the meeting, the two sides agreed to promote policy dialogue activities, thematic seminars and deeper technical cooperation in the financial sector, thereby reflecting the true nature and potential of the Comprehensive Strategic Partnership between Vietnam and the United States, especially in the context of the two countries celebrating the 30th anniversary of diplomatic relations.

Representatives of the Vietnamese and US Ministries of Finance at the working session

Vietnamese businesses boost investment in the United States, opening up new cooperation opportunities

Within the framework of working activities in the United States, Deputy Minister Cao Anh Tuan also had a discussion with Mr. James Burrows - Vice President in charge of the US Export-Import Bank (US Ex-Im Bank), with the participation of representatives of many large Vietnamese enterprises such as Vietnam Oil and Gas Group (PVN), Vietnam National Shipping Lines (VIMC), and Vietnam Airlines.

Representatives of the Ministry of Finance and leaders of the US Ex-Im Bank

During the meeting, the two sides discussed solutions to increase financial support for Vietnamese enterprises wishing to invest in the United States or vice versa. US Ex-Im Bank highly appreciated the potential and feasibility of the projects that Vietnam is implementing, especially in the fields of energy, logistics infrastructure and aviation.

Specifically, Vietnam Airlines Corporation is planning to invest in 50 narrow-body aircraft. The project has been approved in principle and will be submitted to the General Meeting of Shareholders for official decision. It is expected that this will be the first step in a series of strategic investment activities in the US aviation market.

The Vietnam Oil and Gas Group and Vietnam National Shipping Lines also introduced plans to expand cooperation in the field of importing liquefied natural gas (LNG) from the United States, while developing a logistics system to support two-way trade. These are areas of great interest to the United States, and the US Ex-Im Bank is committed to considering appropriate financial support.

Notably, PVN Group and Binh Son Refining and Petrochemical Joint Stock Company (BSR) are cooperating effectively with US partners such as ExxonMobil, Shell, Vitol and Trafigura. To date, BSR has imported 27 oil shipments, with a total volume of more than 22 million barrels, equivalent to nearly 1.8 billion USD, a figure that demonstrates the depth and scale of the energy trade relationship between the two sides.

On May 15 (local time), the Vietnamese Ministry of Finance delegation continued to work with the US Customs and Border Protection (CBP). Here, the two sides discussed measures to coordinate customs control, information sharing and prevention of origin fraud, towards modernizing administrative procedures through electronic and automated platforms.

These contents have received special attention from the US Government and CBP, due to their necessity and urgency in the context of the constantly fluctuating global supply chain. For its part, the Vietnam Customs Department affirmed that these are also priority areas, which have been and are being effectively coordinated with the US side.

By jointly prioritizing specific cooperation goals, being willing to discuss details and agree on substantive solutions, the two countries have the opportunity to promote a model of exemplary customs-trade cooperation that is sustainable and mutually beneficial for both economies.

Mr. Minh

Source: https://baochinhphu.vn/viet-nam-hoa-ky-day-manh-quan-he-kinh-te-tai-chinh-tren-nen-tang-doi-tac-toan-dien-102250515192240727.htm