Minister has working session with US official on energy, industry development

Within the framework of the working trip to attend the APEC Economic Leaders’ Week 2023 in San Francisco, the US, Vietnamese Minister of Industry and Trade Nguyen Hong Diên had a meeting with US Under Secretary of State for Economic Growth, Energy, and the Environment Jose W. Fernandez.

Vietnamese Minister of Industry and Trade Nguyen Hong Dien at the meeting with US Under Secretary of State for Economic Growth, Energy, and the Environment Jose W. Fernandez – photo: MoIT

At the meeting, the two officials agreed that the overall bilateral relationship between Vietnam and the United States is witnessing a strong development in all fields; and the two agencies need to strengthen cooperation to effectively implement cooperation programs and create substantive changes commensurate with the comprehensive strategic partnership of the two countries.

Minister Nguyen Hong Dien proposed that the US Department of State advise the US Department of Commerce to speed up the process of reviewing and soon recognizing Vietnam as a country with a market economy.

Agreeing with US Under Secretary of State Jose W. Fernandez’s assessment on a number of remaining economic and trade issues between the two countries, Minister Nguyen Hong Dien affirmed that Vietnam will continue to enhance dialogue with the US and is ready to create an open business environment and favorable conditions for business operations, meeting the interests of both countries.

The two sides jointly reviewed the implementation of the Memorandum of Understanding on Comprehensive Energy Cooperation Partnership signed by the Vietnamese Ministry of Industry and Trade and the US Department of State in Washington, DC in September 2019.

This is considered an important milestone, opening up a new, deeper and more comprehensive cooperation page in the energy field, creating the most favorable conditions for the business communities of the two countries to exploit market opportunities through existing bilateral cooperation frameworks.

Discussing the United States’ concerns over strengthening cooperation in the field of semiconductors and developing a fundamental industry in Vietnam, Minister Nguyen Hong Dien suggested that the two agencies should soon establish a working group in this field, focusing on three contents: (i) Policy advice, completing the legal framework; (ii) Cooperation in training and human resources; and (iii) Connection between businesses and investors of the two countries.

For his part, US Under Secretary of State Jose W. Fernandez expressed high consensus with the Vietnamese Minister’s proposals, suggesting that there should be a phone talk soon to discuss more thoroughly the issues that US businesses are currently interested in and looking forward to doing business in Vietnam, with top priorities given to cooperation in energy and industry.