Vietnam Strengthens Ties with US Tech Giants, Focusing on Investment and Economic Cooperation

Vietnam considers leading US technology corporations as important accompanying partners, aiming to strengthen economic cooperation. On September 15, at the Ministry of Foreign Affairs headquarters, Politburo member and Minister of Foreign Affairs Le Hoai Trung received Mr. Jon M. Huntsman, Vice Chairman and President of Strategic Growth at Mastercard (USA), during his visit and working trip to Vietnam. The meeting focused on discussions regarding the deepening of economic cooperation between the two countries, particularly in the technology sector. Vietnam consistently regards the United States as one of its most important partners, and strengthening ties with global companies like Mastercard holds significant importance for Vietnam's economic growth strategy. In recent years, Vietnam has been accelerating its digital economy transition, actively attracting foreign investment, especially from US companies possessing advanced technologies. This meeting aligns with broader cooperative efforts, such as enhancing capital market connections between Vietnam and the US, and establishing regular dialogue mechanisms between the legislative bodies of both nations. Under its one-party system, the Communist Party of Vietnam prioritizes economic growth and actively welcomes foreign direct investment (FDI). Relations with the United States are strategically crucial for balancing economic and geopolitical dynamics, particularly concerning China. The presence of financial technology firms like Mastercard is also expected to contribute to modernizing Vietnam's payment systems and promoting financial inclusion. Source: Nhan Dan