Attending nearly 40 activities and meetings with various high-ranking officials of the US Government, senior representatives of several international organizations, multiple companies and foreign investors within the framework of the Prime Minister's visit to the US, Governor Nguyen Thi Hong of the State Bank of Vietnam (SBV) always conveyed a message about the SBV’s consistency with the goal of controlling the inflation, maintaining the macro-economic stability, contributing to the process of building an independent and self-reliant economy, helping to create a stable macro environment for production and business activities to attract foreign investors in general and the US investors in particular to Vietnam.
In the morning of May 12, 2022, the Prime Minister had a working session with the US business community organized by the US - ASEAN Business Council (USABC) and the US Chamber of Commerce (USCC).
On May 19, Prime Minister Pham Minh Chinh and the Vietnamese high-level delegation returned to Hanoi, successfully ending the business trip to attend the US - ASEAN Special Summit, and the official and working visit to the US and the United Nations between May 11 to 17, 2022. During 7 days of the visit, the Prime Minister and the representatives of several Vietnamese ministries and agencies had attended more than 60 bilateral and multilateral events to talk about various themes of economy, trade, finance and banking, security and defense, climate change responses, environmental protection, digital transformation, energy transformation, science and technology, innovation, etc.
Within her working agenda, Governor Nguyen Thi Hong of the State Bank of Vietnam (SBV) attended many important meetings between the Prime Minister and various high-ranking officials of the US Government, senior representatives of several international organizations, multiple companies and foreign investors, including specifically the meetings with the leaders of the US Department of the Treasury, the US Department of Commerce, the Office of the US Trade Representative, the International Monetary Fund (IMF), the World Bank (WB), the US International Development Finance Corporation (DFC), etc.. Through these meetings, the Prime Minister and the SBV Governor could provide some updates on the macroeconomic developments, the process of re-opening and recovering the economy in Vietnam, as well as the process of extensive international economic integration in the banking sector, contributing to creating a stable macro environment for production and business activities to attract foreign investors in general and the US investors in particular to Vietnam.
The Prime Minister meets the CEO of the US International Development Finance Corporation on May 12, 2022.
At the Prime Minister’s Policy Dialogue at Harvard University, the SBV Governor delivered a speech, sharing about Vietnam’s goals of developing an independent and self-reliant economy with the contributions of the monetary policy through flexible responses to increase the resilience of the economy to both external and internal shocks. SBV Governor Nguyen Thi Hong also stated that it is necessary to conduct measures of leveraging the domestic demand, reducing the dependence on exports, thereby mitigating the risks for the macro-economic and the monetary policy management. In addition, the SBV Governor also agreed with the recommendations that Vietnam should diversify its trade partners. The SBV Governor also conveyed the message that the SBV would always be consistent with the goal of controlling the inflation, maintaining the macro-economic stability, following closely the macro-economic developments in the international and domestic markets, improving the capabilities for market forecast and analysis, and responding flexibly and collaborating harmoniously between the monetary policy and other instruments in order to achieve the established objectives, and not to create any unfair competitive advantages in the international trade relations.
The public and international political opinions have made high evaluation for the positive messages conveyed through the Prime Minister’s visit to the US to attend the US - ASEAN Special Summit and other side events, especially for Vietnam’s ’sincerity, trust and responsibility for a better world’ in the international cooperation, and in solving global issues as well as in promoting the US - Vietnam relations, for the mutual and practical benefits of the people of both countries, and for peace, cooperation and development in the region and around the world; and in sharing Vietnam’s goals of developing an independent and self-reliant economy in parallel with in-depth, practical and effective international integration. The visit is considered to have made a very important contribution to the development of the bilateral relations between the US and Vietnam, and between the US and the ASEAN members, as well as the multilateral relations at the international level in the new era.
LK