Vietnam ready to develop ties with US: Deputy FM

Receiving Commissioner of the US Commodity Futures Trading Commission (CFTC) Caroline Pham in Hanoi, Hang said amid global economic uncertainties, Vietnam always strives to promote economic linkages and create a favourable environment for the development of financial market, contributing to enhancing the exchange of information regarding perfecting mechanisms and policies and strengthening bilateral and multilateral cooperation in the financial sector.

She suggested that the two countries enhance dialogue and cooperation in areas of common interest, such as infrastructure and financial services, especially digital finance, quality workforce training, sharing experience in debt and aid management, customs duty fulfillment, and capital and stock market development.

Pham, for her part, expressed her delight at visiting Vietnam, one of the US’s key partners in its regional policy.

Agreeing with Hang's assessment regarding the special significance of President Joe Biden's visit to Vietnam in September and the upgrade of the bilateral relationship to a comprehensive strategic partnership, Pham said the events reflected a remarkable step forward in the two bilateral relations, enhancing mutual understanding and trust and demonstrating the US's commitment to opening up new opportunities for bilateral economic and financial cooperation.

An increasing number of US businesses, particularly in the financial sector, are interested in Vietnam, she noted. The official affirmed that Vietnam's financial market has significant potential and attractiveness, thanks to the country’s stable political environment, the people’s increasing participation in the financial market, and the government's flexible policies.

Pham thanks the Vietnamese government's agencies such as the State Bank of Vietnam and the Ministry of Finance for their active collaboration with the CFTC on trade policy, currency, and forex-related matters, and expressed her hope for the two sides’ further cooperation expansion in the financial and banking sectors.

She said that the CFTC plans to carry out activities to support Vietnam in workforce training and share its experience in building policy frameworks, risk management and overseeing the development of a healthy and stable financial market.

The host and guest discussed specific measures to further tighten the two nations’ economy-trade and finance-investment relations, which include promoting the Indo-Pacific Economic Framework negotiations and the US's recognition of Vietnam as a market economy, and fostering the bilateral collaboration in foreign exchange policies, development of digital economy and green economy, and supply chain diversification.