On June 15, 2026, at the headquarters of the State Bank of Vietnam (SBV), Governor Pham Duc An met with Mr. Robert Kaproth, Deputy Assistant Secretary of the U.S. Department of the Treasury, and members of the U.S. Treasury delegation, including senior experts on Southeast Asia and G20 economic affairs, as well as representatives of the U.S. Embassy in Hanoi.
Governor Pham Duc An and Mr. Robert Kaproth at the meeting
Speaking at the meeting, Governor Pham Duc An highly appreciated the two sides’ maintenance of a regular and substantive dialogue mechanism on macroeconomic developments, monetary and foreign exchange market conditions, and Vietnam’s monetary policy management over the years. The Governor emphasized that this channel of cooperation has played an important role in enhancing mutual understanding, effectively addressing issues of common concern, and contributing positively to the Vietnam–U.S. Comprehensive Strategic Partnership.
The Governor noted that the economic and trade relationship between Vietnam and the United States is complementary, mutually beneficial, and increasingly integrated into global supply chains. He expressed his confidence that bilateral cooperation still holds significant potential for further development, contributing to stable and sustainable economic and trade relations in line with the Comprehensive Strategic Partnership between the two countries.
According to Governor Pham Duc An, despite pressures stemming from global economic uncertainties and geopolitical developments, the SBV has implemented a comprehensive set of policy measures to maintain stability in the monetary and foreign exchange markets. He reaffirmed that Vietnam’s exchange rate policy is not intended to create an unfair competitive advantage in international trade, demonstrating Vietnam’s commitment to market stability, transparency, and compliance with its international obligations.
Overview of the meeting
For his part, Deputy Assistant Secretary Robert Kaproth acknowledged Vietnam’s strong growth aspirations and noted that the country’s new stage of development would require continued improvements in monetary policy management and financial sector oversight. According to Mr. Kaproth, Vietnam still has considerable room to further modernize and enhance its monetary policy framework in a more flexible and market-oriented manner, consistent with the evolving needs of the economy.
During the discussion, Mr. Kaproth stated that the U.S. Department of the Treasury has maintained regular exchanges with relevant SBV departments and highly appreciated Vietnam’s cooperation, as well as the timely and transparent sharing of information. He expressed satisfaction with the positive outcomes achieved through bilateral discussions on monetary issues, which have helped support stable economic and trade relations between Vietnam and the United States.
Also at the meeting, Governor Pham Duc An emphasized that maintaining regular and transparent information exchanges in a spirit of trust, openness, and constructive engagement is essential to strengthening mutual understanding, supporting comprehensive policy assessments, and effectively addressing issues that may arise in bilateral economic relations.
The Governor further noted that the Joint Statement on Currency Matters between the SBV and the U.S. Department of the Treasury represents an important milestone in strengthening dialogue and cooperation in the fields of economics, finance, and monetary affairs between the two countries.