Viet Nam – a Country of the Year honor

The US Trade and Development Agency (USTDA) has presented Viet Nam with the agency’s 2006 Country of the Year honor, according to a press release issued by USTDA recently.

 

Speaking at the presentation ceremony, USTDA Director Thelma J. Askey said: "Viet Nam is the fastest growing economy in Southeast Asia following the countrys shift to a market economy, and its ongoing adoption of modern governance practices, improved investment regulations, and liberalisation of the financial services arena."

"The USTDA has been pleased to cooperate with strong partners in Viet Nam to advance key development goals in a broad range of sectors. We look forward to maintaining a strong commitment to Viet Nam in 2007 with activities that will foster an environment ripe for trade, investment, and sustainable economic development," he added.

Since the USTDAs programme was launched in Viet Nam in 1996, the agency has funded 36 activities and 18 orientation visits designed to support priority development projects and procurement opportunities in Viet Nam. To date, those activities and visits have been associated with 210.5 million USD in US exports in the transportation, energy, services, water and human resource sectors.

In 2006, the agency substantially expanded its Viet Nam portfolio by providing assistance for activities designed to meet priorities established in the APEC forum, Viet Nams World Trade Organisation accession negotiations, and its efforts to obtain permanent normal trade relations with the US.

USTDA was also active in the aviation and financial services sectors in response to Viet Nam’s substantial growth and the governments desire to meet international standards, promote market-oriented reform, and increase transparency.

(Source: VNA)