Vietnam is looking to step up cooperation with the US in infrastructure finance and energy, which are in line with agreements between the two countries and of huge potential, according to Nguyen Van Binh, Politburo member and head of the Party Central Committee’s Economic Commission. 

Head of the Party Central Committee’s Economic Commission Nguyen Van Binh (R) and Acting Assistant Secretary at the US Department of the Treasury Mitchell Silk (l). Source: VNA.

The move is particularly important as the domestic resources are limited, Binh said in a meeting with Acting Assistant Secretary at the US Department of the Treasury Mitchell Silk on February 5.

Binh said the Vietnamese government encourages greater participation of the private sector in the capital market, infrastructure development and energy, which are part of the vision of the Communist Party of Vietnam to transform private economy into a major driving force of the economy.

According to Binh, Vietnam considers the US its top partner, expecting to further the relations comprehensively for mutual benefits, in which successes in bilateral cooperation in trade, investment and economy are major pillars for US – Vietnam relations.

Binh added Vietnam welcomes cooperation initiatives from the US in the region, contributing to sustainable development in Vietnam and other countries, including an initiative to promote low-cost private investment in energy and infrastructure in Asia (Asia EIPCI). 

At the meeting, Silk said he is impressed with the vision and achievements of Vietnam in economic development.

Silk emphasized his commitment to cooperating with the Vietnamese government in boosting the US – Vietnam relations.