US State Department Official Highlights Opportunities in Vietnam-US Business Relations

Ha Noi, The Gulf Observer: A senior official from the US State Department has emphasized the burgeoning opportunities for enhanced cooperation between Vietnam and the United States, particularly in the realm of business and commerce.

Sarah Morgenthau, the Special Representative for Commercial and Business Affairs at the US State Department, underscored the enthusiasm within the US business community to capitalize on the upgraded relationship between Vietnam and the US to a Comprehensive Strategic Partnership, which was formalized last year. She shared her insights during an exclusive interview with Vietnam News while accompanying a 50-business mission from the US-ASEAN Business Council in Hanoi.

The delegation’s visit aimed to reaffirm their commitment to supporting the Vietnamese government’s initiatives while fostering deeper collaboration across various sectors. Moreover, the US business community is actively seeking opportunities to contribute to the realization of initiatives outlined in the Vietnam-US Comprehensive Partnership.

Ms. Morgenthau highlighted the significance of the 30th anniversary of the lifting of the US trade embargo, underscoring the bright future of the Vietnam-US relationship as affirmed by economists, business leaders, and young entrepreneurs.

Vietnam ranks as the US’ ninth-largest trading partner, with bilateral trade exceeding US$124 billion last year. Ms. Morgenthau emphasized the pivotal role of both countries’ leaders in facilitating further market openings and supporting trade and economic policies.

Addressing the upcoming US elections and potential changes in administration, Ms. Morgenthau reiterated the Biden-Harris administration’s unwavering support for the Comprehensive Strategic Partnership. She emphasized the commitment to meaningful discussions aimed at creating a more conducive business and investment climate.

Regarding semiconductor cooperation, Ms. Morgenthau reaffirmed the US commitment to increasing support for Vietnam in developing a high-tech workforce and bolstering its semiconductor ecosystem. She highlighted the signing of a memorandum of cooperation on semiconductor supply chain workforce and ecosystem development as a testament to the partnership’s depth.

Ms. Morgenthau reiterated US companies’ eagerness to invest in Vietnam, particularly in areas supporting Vietnam’s climate and green energy ambitions. This commitment aligns with the US government’s efforts under the Just Energy Transition Partnership.

In conclusion, Ms. Morgenthau affirmed the US’s long-term commitment to Vietnam, highlighting the mutual benefits derived from strengthened bilateral ties and collaborative ventures.