US Ambassador to Vietnam Marc E. Knapper announced that the US Department of Commerce is actively reviewing the issue of recognizing Vietnam’s market economy status and has placed it on a priority schedule, hoping to complete this process by June 2024.
During a meeting with Deputy Prime Minister Le Minh Khai, Knapper and Deputy Prime Minister Khai discussed the implementation of high-level leadership agreements after the two countries upgraded their relationship to a Comprehensive Strategic Partnership.
Deputy Prime Minister Le Minh Khai emphasized that 2024 marks an important milestone in bilateral relations, and Knapper also declared that the US is committed to implementing the agreements reached, particularly in the semiconductor industry and clean energy sectors.
He also encouraged Vietnam to create favorable conditions for US companies to invest and proposed expanding the Information Technology Agreement within the framework of the World Trade Organization to attract investment in semiconductor chips.
In discussions about recognizing Vietnam’s market economy status, Deputy Prime Minister Le Minh Khai highlighted it as a high-level leadership issue of great concern to both countries. He also urged Ambassador Marc E. Knapper to continue efforts to expedite US recognition of this regime, with hopes that the process will be completed in 2024.
Meanwhile, US Ambassador Marc E. Knapper emphasized that 2023 is a significant year for bilateral relations, especially with several high-level visits, including that of US President Joe Biden to Vietnam.
During this visit, high-level leaders of both countries agreed to upgrade the relationship to a Comprehensive Strategic Partnership, and Ambassador Knapper confirmed the willingness and desire of the US to cooperate with Vietnam.
He also stated that in 2024, both sides are responsible for implementing the agreements reached, including joint statements and action plans, and further strengthening bilateral and comprehensive strategic partnership relations.
Knapper also highlighted US efforts to support Vietnam in developing the semiconductor industry, including providing stable legal environments, clean energy sources, and reliable information technology infrastructure.
He suggested expanding the Information Technology Agreement within the World Trade Organization to attract investment in semiconductor chips and deepening cooperation in the clean energy sector by providing green financing.