Under Secretary of State Robert Hormats Visits Vietnam to Promote Economic Ties

HANOI, July 11, 2012 – U.S. Under Secretary of State for Economic Growth, Energy, and the Environment Robert Hormats visited Hanoi July 9-11 with Secretary of State Hillary Clinton on a trip focused on promoting U.S. business, entrepreneurship, regional economic integration, and environmental sustainability.

While in Hanoi, Under Secretary Hormats met with representatives from multinational banks to discuss macroeconomic issues, and in highlighting high-quality U.S. investment, toured PepsiCo Vietnam’s new $73 million green bottling plant in Bac Ninh.  The plant is PepsiCo’s first LEED certified plant in Vietnam and was built using green design and construction technology. Under Secretary Hormats also 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.  Turning to the role of entrepreneurship in the U.S. – Vietnam trade relationship, U/S Hormats also participated in a Vietnam Chamber of Commerce and Industry (VCCI) hosted roundtable discussion with a group of Vietnamese business leaders representing companies from both the state and private sectors.  The roundtable, presided over by 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 noted that “Entrepreneurs play an important role in Vietnam’s economic development.  Continued economic reforms and the use of technology, especially open internet platforms, will help to further unlock the vigor and talent of Vietnamese entrepreneurs and businesses.  U.S. technology, services and products can also play a role in the development of strong Vietnamese companies.”

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 and stressed the importance of continued economic and administrative reforms so that Vietnam can continue attracting high-quality investment and reliable business partners.

Download press photos from Under Secretary Hormats’ visit to Vietnam here: http://www.flickr.com/photos/achanoi/