Politics

Vietnam seeks cooperation with US to develop healthy stock market

Vietnam expects the US to share its experience in developing the financial market in a healthy, safe, and transparent manner, to contribute to national macroeconomic stability, Prime Minister Pham Minh Chinh told the US Secretary of the Treasury Janet Yellen on May 11 (US time) during his visit to the country.
Vietnam seeks cooperation with US to develop healthy stock market ảnh 1Prime Minister Pham Minh Chinh (right) meets with the US Secretary of the Treasury Janet Yellen on May 11 (US time) during his visit to the country. (Photo: VNA)
Washington D.C. (VNA) — Vietnam expects the US to share itsexperience in developing the financial market in a healthy, safe, andtransparent manner, to contribute to national macroeconomic stability, PrimeMinister Pham Minh Chinh told the US Secretary of the Treasury Janet Yellen on May 11 (US time) during his visit to the country.

On the basis of the comprehensive partnership between Vietnamand the US, cooperation between the two countries in economy, trade, financeand currency has made positive progress, PM Chinh said at a meeting withSecretary Yellen while in the US attending the US-ASEAN summit at theinvitation of US President Joe Biden.

He emphasised that Vietnam wishes to build an independentand self-reliant economy with sustainable development and deep integration,adding that stabilisation of the macroeconomy plays a very important role.

PM Chinh thanked the US for cooperation and support inmanaging and stabilising the foreign exchange market, contributing to Vietnam’smacro stability.

He also mentioned the complex impacts on economies stemmingfrom global instabilities such as strategic competition, pandemic, climatechange, conflict and economic development, and armed conflicts.

In response to these issues, he noted, it is necessary touphold internationalism and multilateralism with a balanced and just approach.

PM Chinh added that each country needs to build anindependent and self-reliant economy derived from its own internal resourcesand strengths.

Vietnam seeks cooperation with US to develop healthy stock market ảnh 2Prime Minister Pham Minh Chinh meets with the US Secretary of the Treasury Janet Yellen on May 11 (US time) during his visit to the country. (Photo: VNA)
The Vietnamese leader proposed that the US Government andUS Department of the Treasury closely support and cooperate with Vietnam ineconomic development, handling global challenges, including energy transition,and fulfilling commitments at COP26.

He also suggested the US side to cooperate with Vietnam tobuild regional economic mechanisms, and stabilise trade relations and supplychains.

US Secretary of the Treasury Yelle affirmed that the US iswilling to deepen economic - trade - investment relations between the twocountries, including cooperation in banking and finance.

She said she highly appreciates Vietnam’s flexible exchangerate management and its consistency in pursuing the goal of controllinginflation and stabilising the macro-economy.

Secretary Yelle affirmed that, through global and regionalfinancial institutions, the US will coordinate with developed countries tosupport developing countries, including Vietnam, in the areas ofinfrastructure, infectious disease prevention and control, energy transition,and climate change response.

She added that the US is willing to share experiences andsupport Vietnam in capacity building and mechanisms to effectively developcapital and real estate markets./.
VNA
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