US requested to continue commitment and soon recognise Vietnam's market economy status
Vietnam requests the US to continue implementing its commitment to broad, strong and constructive coordination and to soon recognise the market economy status of Vietnam, Spokeswoman of the Ministry of Foreign Affairs Pham Thu Hang has said.
Spokeswoman of the Vietnamese Ministry of Foreign Affairs Pham Thu Hang (Photo: VNA)
Hanoi (VNA)⛎ - Vietnam requests the US to continue implementing its commitment to broad, strong and constructive coordination and to soon recognise the market economy status of Vietnam, Spokeswoman of the Ministry of Foreign Affairs Pham Thu Hang has said.
Hang made the statement on August 3 while answering a reporter's question about Vietnam's reaction to the US Department of Commerce (DOC)'s decision on continuing to identify Vietnam as a non-market economy.
"We are disappointed that the US Department of Commerce continues to identify Vietnam as a non-market economy. Although recognising many positive changes in the Vietnamese economy in recent times, this decision does not fully reflect Vietnam's great efforts and achievements in building and developing a market economy, which have been recognised by the international community," she said.
ꦇAccording to the spokeswoman, in recent times, Vietnamese agencies and businesses have actively coordinated with the US Department of Commerce to provide many convincing arguments affirming that Vietnam's economy has fully met six market economy criteria in line with the US law. This has also been supported by many US and international associations, businesses, and experts. In fact, to date, 72 countries have recognised Vietnam as having a market economy. International organisations have recognised the remarkable progress of the Vietnamese economy. At the same time, Vietnam has participated in many high-quality Free Trade Agreements (FTAs).
"In the spirit of comprehensive strategic partnership, Vietnam requests the US to continue implementing its commitment to broad, strong and constructive coordination and to soon recognise the market economy status of Vietnam. Relevant Vietnamese agencies will continue to coordinate closely with US partners to ensure that bilateral economic and trade relations will continue to develop stably and harmoniously, bringing practical benefits to businesses and people of the two countries," Hang added./.
The Ministry of Industry and Trade (MoIT) has expressed its regret that the US Department of Commerce (DOC) on August 2 issued a determination according to which although many positive changes have been recorded in Vietnam's economy in recent years, Vietnam continues to be classified as a non-market economy.
Implementing the renewal process, Vietnam has transitioned from a centrally planned economy to a market one, while actively and comprehensively integrating into the international community and promoting industrialisation and modernisation, according to insiders.
Vietnam has a market economy, if the pace of reforms it has undertaken from the Doi Moi (Renewal) period in 1986 to now is taken into consideration, Senior Lecturer in Economics at Australia’s Deakin University Dr. Cong Pham has assessed.
Vietnam’s Ambassador to Brazil and Bolivia Bui Van Nghi has led an embassy delegation to attend official events marking the 200th anniversary of Bolivia’s Independence Day.
Party General Secretary To Lam met with members of the Vietnam Innovation Network in Korea (VINK) and Vietnamese experts living and working in the Republic of Korea (RoK) in Seoul on August 10 as part of his state visit to the RoK.
In an interview with Korean media on the occasion of Party General Secretary To Lam’s state visit to the RoK, Deputy Prime Minister and Foreign Minister Bui Thanh Son affirmed that the visit demonstrates Vietnam’s strong resolve to further deepen the Comprehensive Strategic Partnership with the RoK, with the aim of fostering greater political trust, closer strategic coordination, more substantive and comprehensive cooperation, and stronger bonds of friendship between the two countries' people.
Prime Minister Pham Minh Chinh, who is also a Politburo member and Secretary of the Government Party Committee, attended the 4th Party Congress of the EVN Party Organisation for the 2025–2030 tenure on August 10, directing EVN to ensure power supply to meet the country’s development demands with double-digit growth set for the coming years.
Party General Secretary To Lam and his spouse Ngo Phuong Ly, along with a high-ranking delegation of Vietnam arrived in Seongnam Air Base in Seoul on August 10 afternoon (local time), beginning a state visit to the Republic of Korea from August 10-13.
General Secretary of the Communist Party of Vietnam Central Committee To Lam and his spouse Ngo Phuong Ly departed from Hanoi on August 10 morning for a four-day state visit to the Republic of Korea (RoK), which is made at an invitation of RoK President Lee Jae Myung.
As part of the ASEAN Day celebrations, the Vietnamese embassy will also host the ASEAN Family Day 2025 in Ottawa to foster solidarity and community spirit among ASEAN members in Canada.
State President Luong Cuong’s trip once again reaffirmed the Party and State’s foreign policy of independence, self-reliance, diversification and multilateralisation of relations. It also reflected the strong trend of enhanced cooperation among countries of the Global South in shaping a new, more multipolar, fair and equitable world order.
The outcomes of Party General Secretary To Lam's visit will serve as a driving force and source of inspiration for the two countries to inherit, promote, and elevate their Comprehensive Strategic Partnership, contributing to the national construction and development cause in each country, and to peace, cooperation, and development in the region and the world.
Prime Minister Pham Minh Chinh on August 9 inspected the construction site of the new Phong Chau bridge, and surveyed a planned route for the Lao Cai – Hanoi – Hai Phong railway section running through the northern province of Phu Tho.
Across print, broadcast, and online platforms, Angolan media portrayed State President Luong Cuong's visit as a warm and historic occasion, strengthening bilateral ties and boosting Vietnam’s presence in Africa through the AU.
The 500kV Lao Cai – Vinh Yen power transmission line has a total investment of over 7.41 trillion VND (282.5 million USD), and a total length of 229.5 km, passing through 31 communes in the two provinces, and comprising 468 transmission tower foundations.
The visits reflected the elevated position of Vietnam’s foreign policy in the new era—aimed at not only advancing ties with key regional partners like Egypt and Angola but also delivering a strategic message about Vietnam’s commitment to deepening relations with African nations as a whole.
At their talks and meetings, President Cuong and Angola’s top leaders affirmed that the close brotherhood and traditional friendship are a valuable shared asset and a solid foundation for the two nations to advance into a new phase of development.
The ruling People’s Movement for the Liberation of Angola (MPLA) attaches great importance to the friendship, solidarity, and comradeship with the Communist Party of Vietnam, and voiced her Party’s wish to further deepen and expand relations between the two sides for the benefit of the Vietnamese and Angolan people.
Vietnam pledges to do its utmost to build an ASEAN of solidarity, consensus, and unity in diversity, and to foster a fast and sustainable development path for ASEAN, grounded in science, technology, and innovation, said Prime Minister Pham Minh Chinh.
Party General Secretary To Lam called on the criminal police force to accelerate the application of science, technology, artificial intelligence, and digital transformation in criminal investigation tasks such as crime prevention, detection, tracking and verification, ensuring that no area remains out of their reach.
Many Koreans living, studying, and working in Hanoi see the upcoming state visit to the Republic of Korea (RoK) by Party General Secretary To Lam as an opportunity to generate strong synergy in economic cooperation, people-to-people exchanges, and cultural understanding.
The achievements of the five decades of Vietnam–Angola cooperation provide a strong and enduring foundation, as well as momentum for the two sides to consolidate, expand, and bring their partnership into a new phase of development.
Prime Minister Pham Minh Chinh stressed that the emulation and commendation work is a vital driver, fostering patriotism, dedication, and collective momentum in the run-up to the 11th National Patriotic Emulation Congress, Party congresses at all levels, and the 14th National Party Congress.
