Vietnam & US Sign $500 Million MOU to Advance Green Economy

The $500 million Memorandum of Understanding (MOU) between the Vietnam Development Bank (VDB) and the Export-Import Bank of the US (EXIM) aims to strengthen economic cooperation and assist green transformation projects. This strategic partnership was formally signed at a ceremony at VDB’s Hanoi headquarters with the goal of promoting US exports to Vietnam.

The MOU lays the groundwork for a cooperative effort to finance US exports in important sectors like infrastructure development, climate-related projects in Vietnam, and the transition to a green economy, under the direction of VDB chairman Le Van Hoan and EXIM president and chair Reta Jo Lewis.

 

According to a news statement from the US Embassy and Consulate in Vietnam, this effort not only improves bilateral commercial relations but also highlights both countries’ commitment to sustainable development.

The agreement focuses on identifying and funding various initiatives that are necessary for Vietnam’s transition to a greener economy, such as renewable energy and infrastructure.

 

Chair Reta Jo Lewis Lewis stated, “The Memorandum of Understanding we signed demonstrates our shared commitment to strengthening the US-Vietnam commercial relationship and dedication to creating opportunities that strengthen the economies of both our nations.” “We are eager to work together to find funding opportunities to advance projects that will benefit both parties and assist US exporters who want to do business in Vietnam.”

 

Following the joint leaders’ declaration on advancing US-Vietnam relations to a comprehensive strategic partnership, our two organizations will work to improve bilateral economic ties. Chairman Le Van Hoan stated. “I think that today’s MOU signing will solidify our working relationship and provide the groundwork for future joint ventures. This will help both organizations complete the tasks assigned to them by their respective governments with success.

 

 

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