Strengthening bilateral cooperation
On the morning of May 14, 2025 (local time), Deputy Minister Cao Anh Tuan and the Mission of the Ministry of Finance of Vietnam worked with Mr. Robert Kaproth - Assistant Minister in charge of International Finance and the Ministry of Finance of the United States. At the meeting, the two sides exchanged measures to enhance bilateral cooperation, especially in the context of more than 100 Vietnamese enterprises attending the "Selectusa 2025" event to seek investment opportunities in the United States.
Deputy Minister Cao Anh Tuan emphasized that Vietnam and the United States have a complementary economic structure, with great potential for cooperation in areas such as high technology, aviation, agricultural products, energy and consumer goods. He said that strengthening economic and financial cooperation will contribute to deepening the bilateral relationship, making it more substantial and accurate reflecting the scale of the comprehensive strategic partnership.
On the US side, Mr. Robert Kaproth affirmed that the US Treasury Department is ready to support the promotion of cooperation with Vietnam. However, he also noted the increasing trade deficit and suggested that the Vietnamese side take effective measures to control trade fraud, especially fraud of illegal origin and transportation. In response, Deputy Minister Cao Anh Tuan affirmed that the Vietnamese Government is actively implementing solutions to strengthen inspection and control to ensure fair trade.
On this occasion, Deputy Minister Cao Anh Tuan suggested that the US Treasury Department consider having a voice so that Vietnam can access and import high-tech goods, facilitate technology transfer in promoting bilateral economy, trade and investment, helping businesses from both sides access each other's markets fairly, effectively and long-term; so that Vietnamese businesses can participate more deeply in the US supply chain, enhancing complementarity between the two economies.
At the end of the meeting, the two sides agreed that this is the right time to promote the organization of activities, including seminars, policy dialogues, technical support ... to bring bilateral financial cooperation between Vietnam and the United States to go into depth, essentially, reflect comprehensive strategic partnerships as well as in the context of the two countries to celebrate diplomatic relations.
Important initial results
Previously, Deputy Minister Cao Anh Tuan had an interview with Mr. James Burrows - Vice President in charge of the US Export-Im Bank (USEx-Im Bank). Here, the two sides agreed to increase financial support for Vietnamese enterprises to invest in the United States, especially strategic projects and promote bilateral trade.
The Deputy Minister said that Vietnam Airlines Corporation is planning to invest in 50 narrow-body aircraft, and many large enterprises such as PVN and VIMC are also looking for investment opportunities, expanding logistics systems and importing LNG from the United States. Notably, to date, Binh Son Refining and Petrochemical Company (BSR) has imported 27 WTI Midland oil batches from US partners with a total value of nearly 1.8 billion USD.
On May 15, 2025, the Finance Department will work with the US Customs and Border Protection (CBP) to increase information sharing, coordinate supervision to prevent trade fraud and speed up electronic customs procedures. These are issues of special concern to both sides in the context of promoting fair and sustainable trade.
Vietnam affirmed that these are priority areas and is committed to continuing to closely coordinate with US agencies to realize common goals, improve cooperation efficiency and bring practical benefits to the business communities of the two countries.
