Press Release

November 16, 2006

Vietnam Receives USTDA Country Of The Year Honors

HANOI – As a result of Vietnam’s strong and growing partnership with the agency, U..S. Trade and Development Agency (USTDA) Director Thelma J. Askey today presented the agency’s 2006 Country of the Year honor to the Honorable Minister Doan Manh Giao, Chairman of the Office of Government, who accepted it on behalf of the Government of Vietnam. The presentation took place at the Office of Government, on the occasion of the Asia Pacific Economic Cooperation (APEC) Summit.

“Vietnam is the fastest growing economy in Southeast Asia following the country’s shift to a market economy, and its ongoing adoption of modern governance practices, improved investment regulations, and liberalization of the financial services arena”, said Director Askey in making today’s presentation.  “USTDA has been pleased to cooperate with strong partners in Vietnam to advance key development goals in a broad range of sectors.  We look forward to maintaining a strong commitment to Vietnam in 2007 with activities that will foster an environment ripe for trade, investment, and sustainable economic development.”

Since USTDA’s program was launched in Vietnam in 1996, the agency has funded 36 activities and 18 orientation visits designed to support priority development projects and procurement opportunities in Vietnam.  To date, those activities and visits have been associated with $210.5 million in U.S. exports in the transportation, energy, services, water and human resource sectors.

USTDA has responded to the emergence of Vietnam as an important economic participant in Southeast Asia by playing a significant role in strengthening the U.S.-Vietnam relationship.  In 2006, the agency substantially expanded its Vietnam portfolio by providing assistance for activities designed to meet priorities established in the APEC forum, Vietnam’s World Trade Organization (WTO) accession negotiations, and its efforts to obtain permanent normal trade relations with the United States.  USTDA was also active in the aviation and financial sectors in response to Vietnam’s substantial growth and the government’s desire to meet international standards, promote market-oriented reform, and increase transparency.

The U.S. Trade and Development Agency advances economic development and U.S. commercial interests in developing and middle-income countries.  The agency funds various forms of technical assistance, early investment analysis, training, orientation visits and business workshops that support the development of a modern infrastructure and a fair and open trading environment.  USTDA’s strategic use of foreign assistance funds to support sound investment policy and decision-making in host countries creates an enabling environment for trade, investment and sustainable economic development.  In carrying out its mission, USTDA gives emphasis to economic sectors that may benefit from U.S. exports of goods and services.  Visit USTDA’s Website at www.ustda.gov

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