Yellen Visits Vietnam, Seeking to Encourage US Ties and Supply Chains
HANOI (NEWSnet/AP) — The U.S. considers building strong economic and security ties with Vietnam a priority, U.S. Treasury Secretary Janet Yellen said Thursday during a visit with Vietnamese officials.
Yellen arrived in Vietnam after visits to Beijing and to India, where she attended financial meetings of the Group of 20 major industrial economies. Her tour is aimed at America’s relations across Asia.
“The United States considers Vietnam a key partner in advancing a free and open Indo-Pacific,” Yellen told Vietnamese Prime Minister Pham Minh Chinh, according to remarks provided by the U.S. Treasury Department. “It is a priority for our administration to deepen our economic and security ties with Vietnam in the months and years to come.”
Yellen briefly sat atop a bright green scooter during a visit to a factory in Hanoi's lush green suburbs, where Selex Motors makes EV scooters and batteries.
Yellen said the U.S. is committed to mobilizing $15 billion to support Vietnam's adoption of renewable energy as a part of the Just Energy Transition Partnership or JETP — a financial promise made by the Group of Seven advanced economies to help the country phase out its reliance on fossil fuels.
Speaking earlier to a group of business women and economists, Yellen said she was encouraged by growing investments in Vietnam.
Companies have been expanding investments beyond China to counter risks due to political friction between Washington and Beijing and also because of disruptions resulting from the COVID-19 pandemic.
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