Promoting U.S.-Vietnam Economic Ties

July 11, 2012

Under Secretary of State Robert Hormats Tours a new PepsiCo Bottling Plant near Hanoi, Vietnam.

Under Secretary of State Robert Hormats Tours a new PepsiCo Bottling Plant near Hanoi, Vietnam.

U.S. Under Secretary of State for Economic Growth, Energy, and the Environment Robert Hormats visited Hanoi July 9-11.  His visit focused on boosting U.S.-Vietnam trade, encouraging entrepreneurship, facilitating regional economic integration, and promoting environmental sustainability.

While in Hanoi, Under Secretary Hormats met with representatives from multinational banks to discuss macroeconomic issues, and toured PepsiCo Vietnam’s new $73 million green bottling plant in Bac Ninh Province, near Hanoi.  He discussed environmental challenges at a meeting with Vietnam-based environmental NGOs that focused on how to encourage green growth in Vietnam and on ways to combat wildlife trafficking.  He also participated in a roundtable discussion with a group of Vietnamese business leaders representing companies from both the state and private sectors.  The roundtable, presided over by Vietnam Chamber of Commerce and Industry (VCCI) Chairman Vu Tien Loc, highlighted the important role that entrepreneurs play in economic growth and how adapting new technology can help Vietnamese businesses connect with global markets. Under Secretary Hormats stressed the importance of continued economic and administrative reforms so that Vietnam can continue attracting high-quality investment and reliable business partners.

Under Secretary Hormats also emphasized the importance of finalizing the Trans-Pacific Partnership multilateral free trade agreement as part of a larger effort to deepen economic cooperation and to encourage mutually beneficial trade and investment between Vietnam and the United States.