Việt Nam eyes cooperation with US to develop healthy stock market

Prime Minister Phạm Minh Chính meets the US Secretary of the Treasury Janet Yellen on Wednesday during his visit to the country. — VNA/- VnExpress News Photo Dương Giang

WASHINGTON — Việt Nam expects the US will share its experience in developing the financial market in a healthy, safe and transparent manner, contributing to macro-economic stability, Prime Minister Phạm Minh Chính told the US Secretary of the Treasury Janet Yellen on Wednesday during his visit to the country.

On the basis of the comprehensive partnership between Việt Nam and the US, cooperation between the two countries in economy, trade, finance and currency has made positive progress, PM Chính said at a meeting with Secretary Yellen while he is in the US attending the US-ASEAN summit at the invitation of US President Joe Biden.

He emphasised that Việt Nam wishes to build an independent and self-reliant economy with sustainable development and deep integration, adding that stabilising the macro-economy plays a very important role.

PM Chính thanked the US for cooperation and support in managing and stabilising the foreign exchange market, contributing to Việt Nam’s macro stability.

He also mentioned the complex impacts on economies of global fluctuations such as strategic competition, pandemic, climate change, conflict and economic development and armed conflicts.

In responses to these issues, he noted, it is necessary to uphold internationalism and multilateralism with a balanced and just approach.

PM Chính added that each country needs to build an independent and self-reliant economy derived from its own internal resources and strengths.

The Vietnamese leader proposed that the US Government and US Department of the Treasury closely support and cooperate with Việt Nam in economic development, handling global challenges, including energy transition, and fulfilling commitments at COP26.

He also suggested that the US side cooperate with Việt Nam to build regional economic mechanisms and stabilise trade relations and supply chains.

He said he hoped the US would share its experience in developing the financial market, especially the stock market, and the real estate market in a healthy, safe and transparent manner, contributing to macro-economic stability. 

US Secretary of the Treasury Yelle affirmed that the US is willing to deepen economic-trade-investment relations between the two countries, including cooperation in banking and finance.

She said she highly appreciated Việt Nam’s flexible exchange rate management and its consistency in pursuing the goal of controlling inflation and stabilising the macro-economy.

Secretary Yelle affirmed that, through global and regional financial institutions, the US will coordinate with developed countries to support developing countries, including Việt Nam, in order to develop infrastructure, respond to infectious disease, support the energy transition and commit to combating climate change.

She added that the US is willing to share experiences and support Việt Nam in building capacity and mechanisms to effectively develop capital and real estate markets. — – VnExpress News