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☆ Vietnam waits for major upgrade to its $200 billion stock market
▼ + stars: | 2024-10-28 | by ( Shafi Musaddique | ) www.cnbc.com time to read: +1 min

Vietnam's long wait for emerging market status could soon be over. The Southeast Asian nation is currently classified as a frontier market and has been on the FTSE emerging market watchlist since 2018. An upgrade to emerging market status could see global funds pouring billions into Vietnam's financial market which currently has a market value just north of $200 billion. Speaking to CNBC's "Street Signs Asia" before the confirmation, Maybank Investment Bank Vietnam's Head of Equity Research Thanh Quan Trong said that the FTSE upgrade for Vietnam to emerging market status could come as early as September 2025. "We are seeing good progress in Vietnam fixing the regulatory bottlenecks to get the market upgraded to emerging market status," Trong told CNBC.

Persons: Equity Research Thanh Quan Trong, Pham Minh, Trong Organizations: FTSE, Russell, Maybank Investment, Vietnam's, Equity Research, FTSE Russell, CNBC, World Bank, Vietnam's Institute for Economic, Research Locations: Vietnam

☆ China's premier defends national competitiveness as trade tensions simmer
▼ + stars: | 2024-06-25 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +2 min

China's Premier Li Qiang speaks during the 54th annual meeting of the World Economic Forum in Davos, Switzerland, January 16, 2024. Denis Balibouse | ReutersDALIAN, China — Chinese Premier Li Qiang on Tuesday defended the country's technological development while criticizing efforts to restrict global cooperation. His remarks, at the opening of the World Economic Forum's "Summer Davos" meeting in Dalian, China, came amid rising tensions with the EU over imports of Chinese electric cars. Andrzej Duda, president of Poland, and Pham Minh Chinh, prime minister of Vietnam, gave remarks after Li. The Chinese premier held state-level meetings in China with the two leaders ahead of the "Summer Davos."

Persons: Li Qiang, Denis Balibouse, Li, Andrzej Duda, Pham Minh Chinh, Duda Organizations: Economic, Reuters, EU Locations: Davos, Switzerland, Reuters DALIAN, China, Dalian, U.S, Poland, Vietnam, Beijing, Washington

☆ Putin signs deals with Vietnam in bid to shore up ties in Asia to offset Moscow’s growing isolation
▼ + stars: | 2024-06-21 | by ( ) www.cnbc.com time to read: +8 min

Russia and Vietnam pledged on June 20, 2024 to deepen ties as President Vladimir Putin made a state visit aimed at bolstering his alliances to counter Moscow's growing isolation over the war in Ukraine. Putin and President To Lam agreed to further cooperate in education, science and technology, oil and gas exploration and clean energy. The two countries also agreed to work on a roadmap for a nuclear science and technology center in Vietnam. In Hanoi, Putin also met Vietnam’s most powerful politician, Communist Party General Secretary Nguyen Phu Trong, and Prime Minister Pham Minh Chinh, according to the official Vietnam News Agency. Putin drove to Vietnam’s Presidential Palace on Thursday afternoon, where he was greeted by school children waving Russian and Vietnamese flags.

Persons: Vladimir Putin, Lam, Gavriil Grigorov, Putin, ” Lam, “, Kim Jong, Nigel Gould, Davies, ”, Nguyen Khac Giang, Giang, Nguyen Phu Trong, Pham Minh Chinh, Putin’s, Ridzwan Rahmat, Janes, ” Rahmat, Prashanth, Wilson, Vladimir Lenin, Trong, Nhan Dan, Joe Biden, Xi Jinping, Gould, they’ve, he’s, Parameswaran Organizations: Sputnik, Hanoi Opera, Afp, Getty, North, International Institute for Strategic Studies, Singapore’s, Yusof, Institute, Communist Party General, Vietnam News Agency, Criminal, Kremlin, U.S, Embassy, Security, NATO, Asia, Communist Party’s, Vietnam’s Communist Party Locations: Russian, Hanoi, Russia, Vietnam, Ukraine, Moscow, Asia, Pacific, Eurasia, London, British, Belarus, China, North Korea, U.S, Hague, Korea, Singapore, Soviet Union, Soviet, trickier, Washington

☆ Vietnam reportedly forfeits billions of dollars in foreign aid amid anti-graft freeze
▼ + stars: | 2024-05-17 | by ( ) www.cnbc.com time to read: +2 min

Vietnam forfeited at least $2.5 billion in foreign aid over the last three years and may lose another $1 billion because of administrative paralysis, the United Nations, the World Bank and Western donors told the government in a letter seen by Reuters. Vietnam forfeited at least $2.5 billion in foreign aid over the last three years and may lose another $1 billion because of administrative paralysis, the United Nations, the World Bank and Western donors told the government in a letter seen by Reuters. Two senior foreign officials interviewed by Reuters directly linked the administrative hurdles to the "blazing furnace" anti-graft drive, echoing similar comments from other diplomats and officials in recent months. The anti-graft drive has created a sort of paralysis, in which bureaucrats are slow to approve or advance initiatives because they fear accidentally violating complex regulations. The U.N. and the World Bank said they kept working closely with the government on projects, with the U.N. acknowledging in a statement to Reuters that there were "challenges" for the use of funding.

Persons: Pham Minh Chinh Organizations: United Nations, World Bank, Reuters, European Union, Japan, Asian Development Bank Locations: Vietnam, Communist, United States

☆ What stalled this year’s seemingly infallible stock market rally
▼ + stars: | 2024-04-19 | by ( Krystal Hur | ) edition.cnn.com time to read: +7 min

Investors had hoped that corporate earnings would help revive the stalled rally, but a strong start to the season hasn’t been enough to excite investors. The 30-year fixed-rate mortgage averaged 7.10% in the week ending April 18, up from 6.88% the previous week, according to Freddie Mac data released Thursday. Mortgage rates are climbing based on expectations that the Federal Reserve won’t cut interest rates anytime soon. The Fed doesn’t directly set mortgage rates, but its actions do influence them, and persistently hot inflation readings are keeping the Fed on hold. If inflation stalls any further, or even worsens, mortgage rates could climb higher this year.

Persons: —, hasn’t, Jerome Powell, “, ”, Michael Landsberg, Pierre, Olivier Gourinchas, Israel, Brent, Bryan Mena, Freddie Mac, Sam Khater, Freddie Mac’s, Read, Anna Cooban, Tim Cook, Pham Minh Chinh, Cook, Apple “ Organizations: CNN Business, Bell, New York CNN, Dow Jones, Nasdaq, Federal Reserve, Data, Employers, Fed, Landsberg Bennett, Wealth Management, Monetary Fund, Treasury, Investors, CNN, Federal, China Apple, Vietnamese, Apple Locations: New York, East, Iran, Israel, Syria, Vietnam, China, Hanoi, Beijing

☆ Apple plans to spend more in Vietnam as it looks beyond China
▼ + stars: | 2024-04-18 | by ( Anna Cooban | ) edition.cnn.com time to read: +5 min

Apple (AAPL) has already spent almost $16 billion through its supply chain in the country since 2019, the government quoted Cook as saying. According to the statement, Cook said Apple “stands ready … to enhance cooperation and investment activities” in the Southeast Asian country. Nguyen, whose firm manages $6 billion in assets, told CNN that labor costs in Vietnam’s manufacturing sector are about half those in neighboring China. That’s a big draw for foreign tech companies looking to hire workers for their factories, and find consumers for their products. Still, Vietnam represents a far smaller market than India, which has also been wooing large foreign companies, including Tesla (TSLA), to set up factories in the country.

Persons: Tim Cook, Pham Minh Chinh, Cook, Apple “, Thuy Anh, Nguyen, Dan Ives, “ We’re, ”, “, Tuan Hung, Ho, That’s, Ives, Juliana Liu Organizations: London CNN, Apple, Vietnamese, Dragon, CNN, country’s Ministry of Planning, Investment, Wedbush Securities, Intel, Consumer, Monetary Fund Locations: Vietnam, China, Hanoi, Beijing, India, United States, Ho Chi Minh City, Washington, That’s, Europe

☆ Vietnam aims to start work on high-speed rail lines to China by 2030
▼ + stars: | 2024-04-10 | by ( ) www.cnbc.com time to read: +1 min

Vietnam's Prime Minister Pham Minh Chinh (R) bids farewell to China's President Xi Jinping after their meeting at the Government Office in Hanoi on Dec. 13, 2023. Vietnam aims to start building two high-speed railway lines linking its capital Hanoi with China before 2030, the Ministry of Planning and Investment said, another sign of a recent warming of ties between the two Communist-ruled neighbors. China is Vietnam's largest trading partner and a vital source of imports for its manufacturing sector. The two countries are already connected via a system of highways and two railway lines that are old and need upgrading on the Vietnam side. One of the planned high-speed lines would run from Vietnam's port cities of Haiphong and Quang Ninh through Hanoi to Lao Cai province, which borders China's Yunan province, the ministry said in a statement released late on Tuesday.

Persons: Pham Minh Chinh, Xi Jinping, Lao Cai Organizations: Vietnam's, Government, Ministry of Planning, Investment Locations: Hanoi, Vietnam, China, Vietnam's, Haiphong, Quang Ninh, Lao, China's Yunan, Lang Son, China's Guangxi

☆ Australia and Vietnam upgrade relations, to begin talks on critical minerals
▼ + stars: | 2024-03-07 | by ( ) www.cnbc.com time to read: +2 min

Vietnam Prime Minister Pham Minh Chinh and his wife Tran (R) stand with Australian Prime Minister Anthony Albanese (2nd L) and his fiancee Jodie Haydon (L) during an official welcoming ceremony at Parliament House in Canberra on March 7, 2024. "Elevating our ties to a comprehensive strategic partnership today places Australia and Vietnam among each other's significant partners," Albanese told a news conference in Canberra. Albanese and Chinh on Thursday also witnessed the exchanges of 12 cooperation documents on areas including energy, minerals, agriculture, banking and finance, according to the Vietnamese government. Australia is a major producer of critical minerals that are used in everything from smartphones to automobiles, while Vietnam has some of the largest untapped deposits in the world. "An annual ministerial dialogue on energy and minerals will drive cooperation in our energy and resources sectors, including critical minerals supply chains," the statement said.

Persons: Pham Minh Chinh, Tran, Anthony Albanese, Jodie Haydon, Albanese, Chinh Organizations: Vietnam, Australian, House, Communist, Mutual, Vietnam News Agency Locations: Canberra, Vietnam, China, Australia

DAVOS, Switzerland (AP) — Business and political elites descended on the Swiss Alpine snows of Davos to suss out “rebuilding trust” in a splintering world. If there’s any takeaway from the World Economic Forum's annual meeting — boldly touting that theme — it’s that we still have a long way to go. The idea is getting people together, and big announcements are often just a byproduct — not the aim. “It’s unrealistic to think that Davos — or any meeting, anywhere in the world — in one meeting can rebuild trust when it’s fragmented on so many dimensions," said Rich Lesser, chairman of Boston Consulting Group. But thousands of conversations between the social, private and public sectors help create "a starting point for rebuilding trust,” he said.

Persons: —, Rich Lesser, ”, bigwigs, Bill Gates, Agnès Callamard, craziness, Long, Volodymyr Zelenskyy, ” Zelenskyy, ” Pham Minh Chinh, vociferously, Benjamin Netanyahu, Antony Blinken, wasn't, Antonio Guterres, Masha Macpherson, David Keyton, Courtney Bonnell, Kelvin Chan Organizations: —, Boston Consulting, Nature Energy, “ Cooperation, Security, Amnesty, European Union, U.S, Israeli, ” Locations: DAVOS, Switzerland, Swiss, Davos, suss, Ukraine, U.S, India, South Africa, UKRAINE, Kyiv, Europe, United States, Britain, Israel, Gaza, Palestinian, Saudi Arabia, London

Vietnam has already rail connections to China, but the system is old with limited capacity on the Vietnam side. The upgraded railway would pass through the region where Vietnam has its largest deposits of rare earths, of which China is by far the world's biggest refiner. Chinese and Vietnamese rare earths industry experts discussed last week stronger cooperation on processing the minerals, according to Vietnamese state media. It is unclear how much China would contribute to the upgraded railway track in Vietnam and whether Hanoi would accept sizeable financing from Beijing on this. A strengthened railway link could also boost Vietnam's export to China, mostly of agriculture products, boost Chinese tourism to northern Vietnam and further integrate the two countries' manufacturing industries, which experts already consider as symbiotic, with factories in Vietnam largely assembling components produced in China.

Persons: Xi Jinping, Vietnam's, Wang Yi, Tran, Pham Minh Chinh, Wang Wentao, Francesco Guarascio, Khanh Vu, Phuong Nguyen, Stephen Coates Organizations: Vietnam's, China's Commerce, Initiative, Reuters, Thomson Locations: Hanoi, China, Haiphong China, Vietnam, HANOI, United States, Tran Luu Quang, Kunming, Haiphong, Beijing, China . China, Hong Kong, Washington, South

☆ China, Vietnam Consider Rail Link Through Rare Earths Heartland
▼ + stars: | 2023-11-30 | by ( Nov. | At P.M. | ) www.usnews.com time to read: +3 min

By Francesco Guarascio and Khanh VuHANOI (Reuters) - China and Vietnam are working on a possible significant upgrade of their underdeveloped rail links to boost a line that crosses Vietnam's rare earths heartland and reaches the country's top port in the north, senior officials and diplomats said. Vietnam has already rail connections to China, but the system is old with limited capacity on the Vietnam side. The upgraded railway would pass through the region where Vietnam has its largest deposits of rare earths, of which China is by far the world's biggest refiner. Chinese and Vietnamese rare earths industry experts discussed last week stronger cooperation on processing the minerals, according to Vietnamese state media. It is unclear how much China would contribute to the upgraded railway track in Vietnam and whether Hanoi would accept sizeable financing from Beijing on this.

Persons: Francesco Guarascio, Khanh Vu, Xi Jinping, Vietnam's, Wang Yi, Tran, Pham Minh Chinh, Wang Wentao, Phuong Nguyen, Stephen Coates Organizations: Vietnam's, China's Commerce, Initiative Locations: Khanh, Khanh Vu HANOI, China, Vietnam, Hanoi, United States, Tran Luu Quang, Kunming, Haiphong, Beijing, China . China, Hong Kong, Washington, South

Vietnam's Prime Minister Pham Minh Chinh attends the retreat session of the 43rd Association of Southeast Asian Nations (ASEAN) Summit in Jakarta, Indonesia, September 5, 2023. The document, known as Resource Mobilisation Plan, has to be agreed with investors ahead of the UN Climate Change Conference (COP28) which begins on Thursday in Dubai. Vietnam's Prime Minister Pham Minh Chinh will attend the COP28 from Nov 30 to Dec 3, the government portal said, raising expectations that the plan could be announced there. A second foreign official said there was no major issue pending, and approval of the final version "is very nearly there." There is no certainty that Vietnam would actually take the loans on offer, and the communist government has been reluctant to take foreign loans in the past.

Persons: Pham Minh Chinh, Mast, Francesco Guarascio @fraguarascio, Khanh Vu, Simon Cameron, Moore Organizations: Vietnam's, 43rd Association of Southeast Asian Nations, ASEAN, Rights, Change, Reuters, of, Thomson Locations: Jakarta, Indonesia, Rights HANOI, Vietnam, Dubai, Hanoi

☆ China pledges deeper trade ties with Vietnam
▼ + stars: | 2023-11-26 | by ( ) www.reuters.com time to read: +1 min

BEIJING, Nov 26 (Reuters) - Chinese Commerce Minister Wang Wentao pledged to deepen bilateral trade ties with Vietnam during a meeting with Vietnamese Prime Minister Pham Minh Chinh in Ho Chi Minh City on Saturday, China's commerce ministry said. China and the United States have been jostling for influence among Southeast Asian nations including Vietnam, which in September elevated its ties with Washington to a comprehensive strategic partnership, putting its one-time enemy on par with Beijing and Moscow. Chinese Vice Foreign Minister Sun Weidong held "frank and friendly talks" on bilateral ties, land borders and maritime issues with Vietnam's Deputy Foreign Minister Nguyen Minh Vu in Hanoi earlier this month. Wang also met Ho Chi Minh City's Vietnamese Communist Party secretary Nguyen Van Nen on Saturday, the Chinese commerce ministry said. Reporting by Laurie Chen; Editing by Edmund KlamannOur Standards: The Thomson Reuters Trust Principles.

Persons: Wang Wentao, Pham Minh, Wang, Sun Weidong, Nguyen Minh Vu, Xi Jinping, Ho, Nguyen Van Nen, Laurie Chen, Edmund Klamann Organizations: Commerce, Vietnamese, Beijing, Foreign, Vietnam's, Reuters, Communist Party, Thomson Locations: BEIJING, Vietnam, Ho Chi Minh City, China, United States, Washington, Moscow, Hanoi

☆ China Pledges Deeper Trade Ties With Vietnam
▼ + stars: | 2023-11-25 | by ( Nov. | At P.M. | ) www.usnews.com time to read: +1 min

BEIJING (Reuters) - Chinese Commerce Minister Wang Wentao pledged to deepen bilateral trade ties with Vietnam during a meeting with Vietnamese Prime Minister Pham Minh Chinh in Ho Chi Minh City on Saturday, China's commerce ministry said. Wang said China-Vietnam trade cooperation had already achieved "fruitful results" and would include strategic areas such as the digital economy, green development and cross-border e-commerce, according to a readout published late Saturday by the Chinese ministry. China and the United States have been jostling for influence among Southeast Asian nations including Vietnam, which in September elevated its ties with Washington to a comprehensive strategic partnership, putting its one-time enemy on par with Beijing and Moscow. Chinese Vice Foreign Minister Sun Weidong held "frank and friendly talks" on bilateral ties, land borders and maritime issues with Vietnam's Deputy Foreign Minister Nguyen Minh Vu in Hanoi earlier this month. Wang also met Ho Chi Minh City's Vietnamese Communist Party secretary Nguyen Van Nen on Saturday, the Chinese commerce ministry said.

Persons: Wang Wentao, Pham Minh, Wang, Sun Weidong, Nguyen Minh Vu, Xi Jinping, Ho, Nguyen Van Nen, Laurie Chen, Edmund Klamann Organizations: Commerce, Vietnamese, Beijing, Foreign, Vietnam's, Reuters, Communist Party Locations: BEIJING, Vietnam, Ho Chi Minh City, China, United States, Washington, Moscow, Hanoi

☆ Philippines' Marcos says Myanmar a difficult problem for ASEAN
▼ + stars: | 2023-11-20 | by ( ) www.reuters.com time to read: +2 min

Speaking at a forum in Hawaii streamed live in the Philippines on Monday, Marcos said there was commitment from the Association of Southeast Asian Nations (ASEAN), but the issue was complex, including the humanitarian impact. "There is a great deal of impetus for ASEAN to solve this problem. But it is a very, very difficult problem," Marcos said. The Philippines will chair ASEAN in 2026 after it replaced Myanmar as host that year. Marcos, citing analyses of the recent escalation, said the junta had already lost support from its own military.

Persons: Ferdinand Marcos, Jr, Vivian Balakrishnan, Sarun Charoensuwan, Pham Minh Chinh, Antonio Guterres, Joko Widodo, Marcos, upending, Mikhail Flores, Karen Lema, Neil Jerome Morales, Martin Petty Organizations: Singapore's, Vietnam's, UN, Southeast, ASEAN, Association of Southeast Asian Nations, United Nations, Thomson Locations: Philippines, Laos, MANILA, Myanmar, Hawaii

☆ Vietnam interested in trade deal with Mercosur, says Brazil's Lula
▼ + stars: | 2023-09-25 | by ( ) www.reuters.com time to read: +2 min

[1/3] Brazil's President Luiz Inacio Lula da Silva greets Vietnam's Prime Minister Pham Minh Chinh during a news statement at the Itamaraty Palace in Brasilia, Brazil September 25, 2023. The move comes as the Mercosur bloc tries to finalize a long-awaited trade deal with the European Union, which the leftist leader has been pushing to be concluded by the end of this year. Canada, South Korea and Singapore are other countries in talks for trade deals with Mercosur. Lula had previously hinted at potential agreements with China, Indonesia, Vietnam and countries in Central America and the Caribbean. A memorandum of understanding on defense, Lula added, was the "first step" towards a future deal that would open room for his country to export defense products to the Asian nation, "including aircraft".

Persons: Luiz Inacio Lula da Silva, Pham Minh Chinh, Adriano Machado, Lula, Pham Minh, Minh Chinh, Vietnam's, Minh, Lisandra Paraguassu, Steven Grattan Organizations: Vietnam's, REUTERS, Rights, Mercosur, Vietnamese, European Union, EU, Saturday, Brazilian, Embraer, EMBR3, United Nations Security Council, Thomson Locations: Brasilia, Brazil, Rights BRASILIA, Vietnam, Argentina, Paraguay, Uruguay, Canada, South Korea, Singapore, China, Indonesia, Central America, Caribbean, Sao Paulo, Hanoi

☆ Vietnam PM courts U.S. companies, seeks investment in chip sector
▼ + stars: | 2023-09-19 | by ( ) www.reuters.com time to read: +2 min

[1/2] Semiconductor chips are seen on a printed circuit board in this illustration picture taken February 17, 2023. Chinh pledged to facilitate future investments by Nvidia and Synopsys in Vietnam, the statement said. The statement quoted Nvidia CEO Jensen Huang as telling Chinh that "Nvidia wants to cooperate with Vietnam in semiconductor, information technology and artificial intelligence." Synopsys, which has plans to build chip design centres in Vietnam, on Monday signed memorandums of understanding with Vietnam's information ministry and with the investment ministry. Nvidia, a top supplier of servers to Vietnam, and Synopsys did not immediately respond to Reuters requests for comment.

Persons: Florence Lo, Pham Minh Chinh, Joe Biden, Chinh, Jensen Huang, Synopsys, Amkor, Khanh Vu, Edwina Gibbs Organizations: REUTERS, Rights, Nvidia, U.S, Synopsys, Monday, Intel, United Nations General Assembly, Thomson Locations: Rights HANOI, Vietnam, San Francisco, United States, Hanoi, Chinh, U.S, Brazil

☆ Fire at Vietnam apartment block kills 30 — state media
▼ + stars: | 2023-09-13 | by ( ) www.cnbc.com time to read: +1 min

Firefighters work to put out a fire and rescue people at an apartment block in Hanoi on September 13, 2023. At least 30 people have been killed in a fire at an apartment block in Vietnam's capital Hanoi, among them children, local media reported on Wednesday, citing the city's police. Contacted by Reuters, an officer with Hanoi police said the number of victims had yet to be finalised and declined to provide details. State-run Dan Tri and Saigon Giai Phong put the death toll at 30, citing Hanoi police. Several of the victims were admitted to local hospitals with multiple injuries after having jumped from their windows to escape the fire, state media said, citing Vu Hoang Phuong of Hanoi Medical University Hospital.

Persons: Dan, Phong, Hoang, Pham Minh Chinh Organizations: Vietnam News Agency, Reuters, Hanoi police, Police, Hanoi Medical University Hospital . Locations: Hanoi, Saigon

☆ Joe Biden approval rating: How popular is the US president?
▼ + stars: | 2023-09-12 | by ( ) www.reuters.com time to read: +2 min

U.S. President Joe Biden meets with Vietnam's Prime Minister Pham Minh Chinh (not pictured) in Hanoi, Vietnam, September 11, 2023. The poll had a margin of error of three percentage points and showed approval of Biden to be largely a matter of partisanship. Following the two Democrat-backed probes into Trump, the Republican president lost his 2020 reelection bid to Biden. The new Reuters/Ipsos poll showed the economy remained Americans' top concern, with 23% of respondents selecting it as "the most important problem facing the U.S. The Reuters/Ipsos poll gathered responses online from 1,029 adults, using a nationally representative sample.

Persons: Joe Biden, Pham Minh Chinh, Evelyn Hockstein, Joe Biden's, Biden, Kevin McCarthy, Hunter, Bill Clinton, Donald Trump, Jason Lange, Scott Malone, Deepa Babington Organizations: Vietnam's, REUTERS, Rights, Democratic Party, Republicans, Reuters, Biden, Republican U.S . House, U.S . House, U.S . Senate, Republican, Democrat, Trump, Thomson Locations: Hanoi, Vietnam, Clinton

U.S. President Joe Biden attends a meeting with Vietnam's Communist Party General Secretary Nguyen Phu Trong, at the Communist Party of Vietnam Headquarters in Hanoi, Vietnam, September 10, 2023. Deals unveiled by the White House during the trip include Vietnam Airlines' purchase of 50 Boeing 737 Max jets, in an agreement that it said was worth $7.8 billion, in line with an earlier Reuters report. The White House also announced plans by Microsoft (MSFT.O) to make a "generative AI-based solution tailored for Vietnam and emerging markets." The White House also highlighted the number of chip-related investments by U.S. firms in Vietnam, including plans by Marvell and Synopsys (SNPS.O) to build chip design centres in the country. U.S. State Secretary Antony Blinken and Vietnam's investment minister Nguyen Chi Dung chaired the meeting, which was followed by discussions with Biden and Vietnam's Prime Minister Pham Minh Chinh.

Persons: Joe Biden, Nguyen Phu Trong, Evelyn Hockstein, Joe Biden's, MoMo, Biden, Vietnam's FPT, Antony Blinken, Nguyen Chi Dung, Pham Minh Chinh, Dung, Phuong Nyugen, Nandita Bose, Francesco Guarascio @fraguarascio, Edwina Gibbs Organizations: Vietnam's Communist Party General, Communist Party of, REUTERS, Rights, Google, Intel, Marvell, Boeing, Innovation, Investment, Nasdaq, Vietnam Airlines, White, Max, Microsoft, Nvidia, Intel's, Honeywell, State, Vietnam's, Thomson Locations: Communist Party of Vietnam, Hanoi, Vietnam, Rights HANOI, chipmaking, Washington, China, Taiwan, U.S, United States

U.S. President Joe Biden attends a meeting with Vietnam's Communist Party General Secretary Nguyen Phu Trong, at the Communist Party of Vietnam Headquarters in Hanoi, Vietnam, September 10, 2023. Senior executives from Google (GOOGL.O), Intel (INTC.O), Amkor (AMKR.O), Marvell (MRVL.O), GlobalFoundries (GFS.O) and Boeing (BA.N) are attending the Vietnam-U.S. Newly unveiled deals by the White House include plans by Microsoft (MSFT.O) to make a "generative AI-based solution tailored for Vietnam and emerging markets." The White House also highlighted the number of chip-related investments by U.S. firms in Vietnam, including plans by Marvell and Synopsys (SNPS.O) to build chip design centres in the country. Vietnam Airlines will also purchase 50 Boeing 737 Max jets, the White House said, in an agreement that a source told Reuters was valued at about $7.5 billion.

Persons: Joe Biden, Nguyen Phu Trong, Evelyn Hockstein, Joe Biden's, MoMo, Antony Blinken, Nguyen Chi Dzung, Biden, Pham Minh Chinh, Vietnam's FPT, Phuong Nyugen, Francesco Guarascio @fraguarascio, Edwina Gibbs Organizations: Vietnam's Communist Party General, Communist Party of, REUTERS, Rights, Google, Intel, Marvell, Boeing, Innovation, Investment, Nasdaq, Vietnam Airlines, State, Vietnam's, White, Microsoft, Nvidia, Intel's, Max, Reuters, Honeywell, Thomson Locations: Communist Party of Vietnam, Hanoi, Vietnam, Rights HANOI, U.S, chipmaking, Washington, China, Taiwan . U.S

He'll also visit a Hanoi memorial honoring his late friend and colleague Sen. John McCain, who was held for more than five years as a prisoner during the Vietnam War . Biden met with Prime Minister Phạm Minh Chính, who also accompanied Biden to a quick drop by at a meeting of business leaders. Biden said the shift demonstrated how far bilateral relations had evolved from the “bitter past” of the Vietnam War. The North Vietnamese wanted to make a show of releasing McCain early as his father assumed command over the Pacific. Despite his experience in Vietnam, McCain was a strong advocate of restoring diplomatic relations with the country that had so badly mistreated him.

Persons: Joe Biden, He'll, Sen, John McCain, Biden, Phạm Minh Chính, Võ Văn Thưởng, Biden's, Nguyễn Phú Trong, Trong, Sidney McCain, McCain, McCain’s, ”, “, Democrat Barack Obama, John Kerry, Obama, ” Biden Organizations: U.S, White, Vietnam Airlines, Communist Party of Vietnam, cellmates, Navy, Senate, Republican, Democrat, Democratic, Joint Base Elmendorf Locations: HANOI, Vietnam, Hanoi, U.S, Arizona, Bac Ninh Province, China, Philippines, Malaysia, Brunei, Beijing, Asia, Hanoi , North Vietnam, American, Washington, Richardson, Anchorage , Alaska, New York, Washington and Pennsylvania

☆ US, Vietnam upgrade ties as Biden visits in hedge against China
▼ + stars: | 2023-09-10 | by ( ) www.cnbc.com time to read: +3 min

U.S. President Joe Biden attends Partnership for Global Infrastructure and Investment event on the day of the G20 summit in New Delhi, India, September 9, 2023. U.S. President Joe Biden secured deals with Vietnam on semiconductors and minerals as the strategic Southeast Asian nation elevated Washington to its highest diplomatic status alongside China and Russia. Biden noted the strides that had been taken toward improved ties. Vietnam is having to navigate frosty relations between Washington and Beijing as it seeks its own foothold in the international economic competition. That would help Vietnam reduce military reliance on Moscow, "a relationship we think they are increasingly uncomfortable with," Finer said.

Persons: Joe Biden, Biden, Xi Jinping, Pham Minh Chinh, Jon Organizations: Global Infrastructure, Communist Party, Reuters, Vietnam's Locations: New Delhi, India, Vietnam, Washington, China, Russia, The U.S, Hanoi, Beijing, Ukraine, Moscow, United States, U.S

U.S. President Joe Biden holds a press conference in Hanoi, Vietnam, September 10, 2023. Biden also said in Hanoi he had talked with Xi’s deputy at the G20, and that the two talked about stability. In recent weeks, Vietnam has engaged in several high-level defence meetings with top Russian officials. CHIPS, RARE EARTHSBiden’s visit comes as bilateral trade and investment ties are growing and a long-simmering territorial dispute between Vietnam and China heats up in the South China Sea. A large part of it could go to Vietnam, officials said.

Persons: Joe Biden, Evelyn Hockstein The, Biden, ”, ” Biden, Xi Jinping, Nguyen Phu Trong, Pham Minh Chinh, Jon, “, Antony Blinken Organizations: Sunday, REUTERS, Communist Party, Communist Party General, Reuters, Vietnam’s, Vietnam Airlines, Boeing, Max, Google, Intel, Marvell, GlobalFoundries, U.S Locations: HANOI, WASHINGTON, Vietnam, Washington, China, Russia, Hanoi, United States, Pacific, Hanoi . Vietnam, Beijing, Ukraine, Moscow, U.S, India, South China, America

On Wednesday, China's Li warned against starting a "new Cold War" and warned countries against taking sides in any conflict. Harris, attending the meetings instead of President Joe Biden, reiterated a U.S. commitment to the region. "The United States has an enduring commitment to Southeast Asia and more broadly to the Indo-Pacific," she said. A White House official said earlier the U.S. shared interests with ASEAN in "upholding the rules-based international order, including in the South China Sea, in the face of China's unlawful maritime claims and provocative actions". The Chinese premier and Japanese Prime Minister Fumio Kishida met briefly on the sidelines of the summit on Wednesday and discussed Japan's release into the sea of treated radioactive water from the Fukushima nuclear plant.

Persons: Ferdinand Marcos, Jr, Lee Hsien Loong, Ministry of Foreign Affairs Sarun, Pham Minh Chinh, Fumio, Yoon Suk Yeol, Joko, Kamala Harris, Li Qiang, Sergei Lavrov, China's Li, Harris, Joe Biden, Fumio Kishida, Kanupriya Kapoor, Robert Birsel Organizations: Singapore's, Ministry of Foreign Affairs, Vietnam's, Japan's, ASEAN, Russian, Association of Southeast Asian Nations, White, U.S, Japanese, Thomson Locations: Philippines, Fumio Kishida, South, JAKARTA, Indonesia, Japan, South Korea, India, Australia, South China, Myanmar, Korea, Russia, United States, Southeast Asia, China, Laos

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