US backs 'robust, consequential' partnership with Vietnam: Secretary of State Blinken

The U.S and Vietnam have forged a robust, dynamic and consequential relationship, and the U.S "respects Vietnam’s right to shape its future under its own political system", said Secretary of State Antony Blinken.

Blinken landed in Hanoi on Friday evening, beginning a three-day official visit to the Southeast Asian country as the two nations celebrate the 10th anniversary of their Comprehensive Partnership.

"The U.S. is helping Vietnam double down on key reforms it’s embraced – including on labor, intellectual property, and fair trade – which have made it one of the fastest-growing economies in the world," the U.S. Secretary of State told a press meeting in Hanoi on Saturday following meetings with Vietnam's top leaders.

"We believe that Vietnam can achieve its goal of becoming a connected, high-income country by 2045 by pursuing growth that lifts all communities, while building resilience to adapt to a changing climate," he said.

Blinken's trip is also focused on how the two countries can advance a free and open Indo-Pacific, one that is "at peace and grounded in respect for the rules-based international order".

In his meetings with Party General Secretary Nguyen Phu Trong, Prime Minister Pham Minh Chinh, and Foreign Minister Bui Thanh Son, Blinken discussed how to promote broad-based prosperity in Vietnam and throughout the region, including through the Indo-Pacific Economic Framework.

"Vietnam has joined negotiations on all four pillars of the Indo-Pacific Economic Framework, which will help lead a race to the top on the issues that are shaping the 21st century economy, including supply chain resilience, the clean energy transition, and digital connectivity – and that would benefit Americans, and people across the region," he told local media.

The U.S is harnessing the power of regional frameworks like the Just Energy Transition Partnership that Vietnam recently joined – which is going to deploy $15.5 billion to help the country deliver on its ambitious Net Zero 2050 goal – as well as the Japan-U.S.-Mekong Power Partnership.

It is also collaborating to build Vietnam’s public health capacity, including establishing a national Center for Disease Control and Prevention (CDC) in the country.

Blinken said the U.S. is finalizing the transfer of a third U.S. Coast Guard cutter to Vietnam, complementing a fleet of 24 patrol boats and other equipment, training, and operational facilities it has provided since 2016.

"All of these efforts bolster Vietnam’s capacity to contribute to maritime peace and stability in the South China Sea," he noted. The South China Sea is known in Vietnam as the East Sea.

In a meeting with Blinken, General Secretary Nguyen Phu Trong said he highly appreciated the strong and comprehensive development of their bilateral relations on the basis of respect for each other's independence, sovereignty, territorial integrity and political institutions.

"The positive results are the basis for continuing to raise the bilateral relationship to a new height for the benefit of the two peoples, and for peace, stability and development in the region and the world," Trong noted.

In another meeting, Blinken told Prime Minister Pham Minh Chinh that the U.S hopes to be able to take the relationship to a higher level by "deepening even further the economic partnership; working on issues that really matter to our people, from dealing with climate change, to finding new renewable sources of energy, to building more resilient supply chains."

The U.S. and Vietnam launched their Comprehensive Partnership a decade ago, and it is nearly 28 years since the two countries normalized relations.

Blinken on Saturday attended the ground-breaking ceremony for the new US Embassy campus construction worth $1.2 billion on Pham Van Bach street, Hanoi's Cau Giay district, together with Vietnamese Minister of Foreign Affairs Bui Thanh Son, U.S. Ambassador to Vietnam Mark Knapper, and Hanoi Vice Chairman Duong Duc Tuan, among others.

The Secretary of State said the event is another step forward to strengthen the bilateral relationship. "When completed, our new embassy in Hanoi will be a state-of-the-art facility worthy of our ambitious vision for the future of our partnership - and worthy of the American and Vietnamese people who work every day to make that vision a reality."

The U.S. is Vietnam’s biggest export market and second biggest trade partner. Bilateral trade reached $123.86 billion in 2022, up 11% year-on-year.

It is also one of the top foreign investors in the Southeast Asian country, with $11.42 billion in registered capital for 1,216 projects as of end-2022.

Many major U.S. multinational companies are expanding their footprints in Vietnam. From March 21-23, the largest ever U.S. business mission with 52 corporations visited the country to sound out business opportunities.

"American firms are strong in areas like digital and creative economy development, and green energy, meaning more opportunities for bilateral economic cooperation," said the U.S.-ASEAN Business Council (USABC) president and CEO Ted Osius, former U.S. ambassador to Hanoi, in a press briefing last month.

Gregory Testerman, chairman of AmCham Vietnam in HCMC, told The Investor in a recent interview that the vibrant trade relationship between the U.S. and Vietnam is one of the world’s most important.