Biden to sign strategic partnership deal with Vietnam in Sep: Politico
U.S. President Joe Biden will sign a strategic partnership agreement with Vietnam during a state visit to the Southeast Asian country in mid-September, Politico reported, citing three people with knowledge of the deal's planning.
The agreement will allow for new bilateral collaboration that will boost Vietnam's efforts to develop its high-tech sector in areas including semiconductor production and artificial intelligence, Politico said Friday, U.S. time.
“The new strategic partnership agreement opens the door to closer diplomatic, economic and technological cooperation” with Hanoi, the politics-focused U.S. newspaper company wrote.
The three sources “were granted anonymity because they weren’t authorized to speak on the record about the agreement,” Politico said, adding that neither the White House nor the Vietnamese embassy in Washington D.C. responded to requests for comment.
The White House has not confirmed plans for the trip.
The agreement will mark an upgrade in U.S.-Vietnam ties guided by an existing comprehensive partnership deal signed in 2013 by then U.S. President Barack Obama that boosted bilateral cooperation in various areas including trade, investment, education, public health, and assistance for Vietnam’s coast guard.
The deal symbolizes the steady improvement in U.S.-Vietnam ties since the two countries established diplomatic relations in 1995, ending two decades of nonengagement following the end of the Vietnam War in 1975.
In 1993, the U.S. State Department opened its first in Hanoi. In mid-April this year, U.S. Secretary of State Antony Blinken broke ground on the new U.S. embassy campus in the capital city, expected to match the vision for the future of the two countries’ partnership.
At their April meeting, Vietnamese Prime Minister Pham Minh Chinh and Blinken expressed a desire to deepen ties as the U.S. is seeking to solidify relations with partners in Asia.
Then, U.S. Treasury Secretary Janet Yellen paid a visit to Vietnam on July 20-21 to enhance bilateral relations.
“The United States considers Vietnam a key partner in advancing a free and open Indo-Pacific,” she said at a meeting with Vietnamese Prime Minister Pham Minh Chinh in Hanoi on July 20.
"Vietnam is also a close economic partner, with our two-way trade reaching record highs last year and the United States serving as Vietnam’s largest export market," Yellen added.
She said that the U.S. was committed to mobilizing over $15 billion to support Vietnam’s adoption of renewable energy as a part of the Just Energy Transition Partnership (JETP). The funds were promised by the G7 economies to help Vietnam phase out its reliance on fossil fuels. Similar incentives have been offered to South Africa and Indonesia.
U.S. President Biden said earlier this month that he would be traveling to Vietnam "shortly" because the country wanted to elevate its relationship with the U.S. and become a major partner.
Last year, Biden, along with leaders from Australia, Brunei, India, Indonesia, Japan, South Korea, Malaysia, New Zealand, the Philippines, Singapore, Thailand and Vietnam, launched the Indo-Pacific Economic Framework (IPEF) during a visit to Tokyo.
- Read More
Q3 earnings of Vietnam’s listed firms up 21.6%: FiinGroup
Net profits of listed companies in Vietnam increased 21.6% year-on-year in the third quarter of this year, maintaining a stable growth rate since the start of this year, according to local financial data provider FiinGroup.
Finance - Mon, November 4, 2024 | 9:31 am GMT+7
Thailand SCG’s revenue in Vietnam up 15% to $1.1 bln in Jan-Sept
Thailand’s Siam Cement Group (SCG) recorded a revenue of THB36.71 billion ($1.08 billion) in Vietnam in the first nine months of this year, up 14.7% year-on-year.
Companies - Mon, November 4, 2024 | 8:00 am GMT+7
Nghiem Xuan Thanh appointed Party chief of Khanh Hoa province
Nghiem Xuan Thanh, Party chief of Hau Giang province, was appointed by the Politburo, the country’s supreme decision-making body, to be Khanh Hoa province’s Party chief for the 2020-2025 term.
Politics - Sun, November 3, 2024 | 7:45 pm GMT+7
Thailand seeks FTA negotiations with Eurasian Economic Union
Thailand is holding talks with Russia to expedite negotiations for a free trade agreement (FTA) with the Eurasian Economic Union (EAEU).
Southeast Asia - Sun, November 3, 2024 | 7:20 pm GMT+7
Indonesia attracts foreign investment in technology sector
As many as 19 Australian companies have expressed an interest in investing in Indonesia's technology sector, Communication and Digital Affairs Minister Meutya Hafid said on Thursday.
Southeast Asia - Sun, November 3, 2024 | 7:18 pm GMT+7
Robots work hard, don’t argue: Viettel exec counsels effective use of technology
Small businesses in logistics should look to use existing tools, software and technology solutions effectively, says Dinh Thanh Son, deputy CEO of Viettel Post.
Companies - Sun, November 3, 2024 | 4:30 pm GMT+7
Vietnamese multi-sector group Masan uses AI to forecast product sales: executive
AI has helped Masan Group forecast the number of items likely to be sold during peak season based on available data and to optimize product placement, says An Luong, head of the corporation’s artificial intelligence & data science division.
Companies - Sun, November 3, 2024 | 2:51 pm GMT+7
Vietnam needs large, specialized logistics centers to compete better: official
Vietnam needs large-scale, specialized logistics centers that will enable greater competitiveness of local economies and enterprises, says Tran Thanh Hai, deputy head of the Ministry of Industry and Trade's agency of foreign trade.
Economy - Sun, November 3, 2024 | 11:00 am GMT+7
Vietnam manufacturing sector sees 35% increase in Q3 job orders: Adecco
Vietnam’s manufacturing and sourcing sectors saw a substantial 35% year-on-year increase and a 52% quarter-on-quarter increase in Q3/2024 job orders, global workforce solutions provider Adecco said in a reseach report released Thursday.
Economy - Sun, November 3, 2024 | 9:00 am GMT+7
Construction majors to continue capitalizing on public investment projects
Vietnamese construction giants are expected to continue capitalizing on public investment projects for the remainder of this year after delivering strong performances in the third quarter, analysts say.
Companies - Sun, November 3, 2024 | 8:00 am GMT+7
Former Government Office chairman receives $7,900 bribe from property project
Mai Tien Dung, former Minister-Government Office Chairman, received a bribe worth VND200 million ($7,900) from Nguyen Cao Tri, owner of the Dai Ninh eco-resort and urban area project in Lam Dong province.
Society - Sat, November 2, 2024 | 9:13 pm GMT+7
Thai food giant CP enters public-private partnership to promote food system transformation
Thai-invested C.P. Vietnam Livestock JSC and the Partnership for Sustainable Agriculture Vietnam (PSAV) signed a memorandum of understanding Friday on working together to advance sustainable agriculture in the country.
Companies - Sat, November 2, 2024 | 7:16 pm GMT+7
Central Vietnam province Quang Ngai to begin work on new VSIP industrial park next year
Vietnam’s central province of Quang Ngai will work with the investor to have construction of VSIP II Quang Ngai, a facility based on the Vietnam-Singapore Industrial Park (VSIP) model, begin in August 2025.
Industrial real estate - Sat, November 2, 2024 | 3:47 pm GMT+7
Vietnam likely to grow 6.5% in 2024-2025: VinaCapital
VinaCapital, among the biggest foreign-run asset managers in Vietnam, has forecast the country’s economy to achieve 6.5% growth in both 2024 and 2025, with the composition of the expansion to change to more domestically driven factors next year.
Economy - Sat, November 2, 2024 | 2:00 pm GMT+7
Major Vietnamese developer Novaland appoints new CEO
Duong Van Bac, who joined Novaland as chief financial officer in August 2023, has been appointed general director, starting Friday.
Companies - Sat, November 2, 2024 | 10:24 am GMT+7
Vietnamese conglomerate Bamboo Capital posts 36-fold profit growth in Q3
Ho Chi Minh City-based Bamboo Capital Group recorded an after-tax profit of VND331.2 billion ($13.1 million) in the third quarter of 2024, an astounding 36-fold expansion year-on-year.
Southeast Asia - Sat, November 2, 2024 | 9:41 am GMT+7