Great start to Day 2 of the Presidential Trade and Investment Mission as Secretary Gina Raimondo and delegates engage with business leaders on how the Indo-Pacific Economic Framework for Prosperity builds on the strong 🇺🇸🇵🇭 trade and investment relationship. #PartnersInProsperity

During the Presidential Trade and Investment Mission, business leaders & government representatives brought their expertise to discussions on creating avenues for cooperation in the infrastructure, energy & information and communications technology sectors. #PartnersInProsperity

Thank you to the Philippines for the incredibly warm welcome and productive visit.

Presidential Trade and Investment Mission: Partnering with the U.S. Private Sector to Deepen U.S.-Philippine Commercial Ties commerce.gov/news/press-rel… via U.S. Commerce Dept.

Vietnam should import more from America, especially agricultural products, and “green” products. Healthcare facilities, and aircraft by Boeing. - Dr. Can Van Luc

In 2023, we still have a lot of coal or thermal power, accounting for about 60% or even more. We are trying to reduce this component down to 20% by 2030, and maybe 0% by 2050. -Dr. Can Van Luc

We do hope that after our CSP, it [US investment] will become bigger, and the US will be in the top 10, top 5, sometime in the future, hopefully. - Dr. Can Van Luc

USA has been ranking number one in Vietnam’s export market, accounting for between 27 to 30% of the total exports for Vietnam. China is number one for the import market of Vietnam. - Dr. Can Van Luc

Vietnam is a fast growing economy, but we are still a low income country. Income per capita for Vietnam has increased very fast, around 5% pre annum, now its about 4200 USD per capita. - Dr. Can Van Luc

There's an enormous amount of capital requirement for [Vietnam's] energy transition, more than $134 billion by 2030, and then an additional $400-$500 billion up to 2050 to achieve those goals. Ted Osius, Ambassador (ret.)

Feedback from our companies suggests that there are a number of things Vietnam needs from the Vietnamese government. One is clarity on the country’s direction and targets. Ted Osius, Ambassador (ret.)

There is also a desire for more clarification on the implementation of PDP8. There’s also a request, a desire for a regulatory framework that consistently supports foreign investment, reduces barriers to entry, and minimizes administrative burdens. Ted Osius, Ambassador (ret.)

Andreyka Natalegawa A: Ted Osius, Ambassador (ret.) I think the baseline of PDP8 is diversification of energy sources. It’s about that transition occurring, there’s not a jump from all coal today to no coal tomorrow.

Andreyka Natalegawa A: Ted Osius, Ambassador (ret.) From the perspective of American businesses, where do you see really high growth? Sub Saharan Africa and Southeast Asia. Tremendous amount of growth, and we’re already there. We have more investment in SE Asia than India, Japan, China, Taiwan and Korea, combined.

Andreyka Natalegawa A: Ted Osius, Ambassador (ret.) On the way [to an FTA], there could be some sectoral agreements that can accelerate our collaboration, specifically in critical minerals, supply chains, AI, and digital… It’s good for the US to have sectoral agreements in place with a country like Vietnam.

A: Ted Osius, Ambassador (ret.) American companies are going to do better than other companies around the world in processing and maintaining environmental standards, high labor standards. If we let China d the processing throughout the region, we can’t complain about those standards not being met.

Hanoi: A big welcome to President Biden who’s on a state visit to Vietnam

e.vnexpress.net/news/news/part…

dantri.com.vn/the-gioi/hau-t…

'U.S. companies are ready to support the goals set by President Ferdinand R. Marcos Jr. in his second State of the Nation Address (SONA) on infrastructure, agriculture, clean energy, green metals and semiconductors.' President & CEO Ted Osius Amb. (ret.)
businessmirror.com.ph/2023/08/10/u-s…