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EXIM Chairman Kimberly Reed and Prime Minister of Vietnam Nguyen Xuan Phuc Discuss Bilateral Trade Balance, Important Role of EXIM in Facilitating Vietnam’s Purchase of More U.S. Energy, Infrastructure, and Health Care Exports

United States and Vietnamese Government Officials Reaffirm Importance of Comprehensive Partnership During 25th Anniversary Year of Formal U.S.-Vietnam Diplomatic Relations

FOR IMMEDIATE RELEASE October 26, 2020

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Hanoi– Export-Import Bank of the United States (EXIM) President and Chairman Kimberly A. Reed today concluded comprehensive economic discussions with Vietnamese government officials in Hanoi as part of a U.S. delegation visit to three countries in the Indo-Pacific region.

The highlight of the day was the delegation’s meeting with Prime Minister of Vietnam Nguyen Xuan Phuc, who noted that the presence of high-level U.S. officials from an unprecedented number of six government agencies reflected the friendship and partnership between Vietnam and the United States. 

In her discussion with the Prime Minister, Chairman Reed underscored the crucial activities at EXIM over the past year and a half—including President Trump’s bold decision to fully reopen the 86-year old agency after four years of dormancy and the historic 2019 EXIM reauthorization, which included a Congressional mandate to establish the Program of China and Transformational Exports—that made her trip to Vietnam a priority. She encouraged the Prime Minister and other Vietnamese officials to consider choosing high-quality “Made in the USA” goods and services, including transformational exports like wireless communications (5G), renewable energy, biomedical sciences, and biotechnology, as well as infrastructure, liquefied natural gas (LNG), health care, agriculture, and aviation. The Prime Minister noted that energy was one of the most important areas of cooperation between the United States and Vietnam, and both Chairman Reed and Prime Minister Phuc looked forward to future transactions that would benefit both nation’s economies and workers.  

Vietnam Prime Minister Nguyen Xuan Phuc and EXIM Chairman Kimberly Reed
Vietnam Prime Minister Nguyen Xuan Phuc and EXIM Chairman Kimberly Reed

“I want to thank Prime Minister of Vietnam Nguyen Xuan Phuc, as well as U.S. Ambassador to Vietnam Dan Kritenbrink and all of the officials we met with today, as we focus on how EXIM, when needed, can help with economic growth and jobs in both the United States and Vietnam,” said Chairman Reed. “The year 2020 marks the 25th anniversary of the United States and Vietnam establishing diplomatic relations and I am honored to join this distinguished U.S. delegation, particularly as the world focuses on economic recovery in the wake of COVID-19, to ensure that EXIM is utilized to support our comprehensive partnership with Vietnam and promote investment and business development opportunities that can lead to benefits for U.S. and Vietnamese workers and businesses.”

The U.S. delegation also met with Vietnam’s Ministry of Industry and Trade Vice Minister Vuong Hoang Quoc, Central Economic Commission Chairman Nguyen Van Binh, Minister of Planning and Investment Nguyen Chi Dung, and other high-level officials.  The group also extended their condolences and prayers to the Vietnamese people following recent torrential rain, flooding, and landslides in central Vietnam.

Central Economic Commission Chairman Nguyen Van Binh (front, center) with Vietnamese government officials and the U.S. delegation.
Central Economic Commission Chairman Nguyen Van Binh (front, center) with Vietnamese government officials and the U.S. delegation.

The U.S. delegation, which is being led by U.S. International Development Finance Corporation (DFC) CEO Adam Boehler, includes senior government officials from the U.S. Departments of Commerce, Energy, State, and Treasury. In addition to Chairman Reed, EXIM Senior Vice President Luke Lindberg also is representing the agency.

The U.S. delegation previously visited Indonesia, and next will visit Naypyitaw, Myanmar, as part of their continued economic and trade engagement in the region.

ABOUT EXIM:

EXIM is an independent federal agency that promotes and supports American jobs by providing competitive and necessary export credit to support sales of U.S. goods and services to international buyers. A robust EXIM can level the global playing field for U.S. exporters when they compete against foreign companies that receive support from their governments. EXIM also contributes to U.S. economic growth by helping to create and sustain hundreds of thousands of jobs in exporting businesses and their supply chains across the United States. In recent years, approximately 90 percent of the total number of the agency’s authorizations has directly supported small businesses. Since 1992, EXIM has generated more than $9 billion for the U.S. Treasury for repayment of U.S. debt.

For more information about EXIM, please visit www.exim.gov