Vietnam - US: Signing Memorandum of Understanding on Cooperation on Digital Trade Activities

This MOU aims to contribute to strengthening Vietnam's digital trade ecosystem, bringing benefits to businesses of both countries. At the same time, it also enhances capacity in building policy and legal frameworks on digital trade, meeting the development needs of digital trade in Vietnam; facilitating the private sector to participate in digital trade activities through digital trade development platforms and tools.

Speaking at the signing ceremony, USAID Country Director in Vietnam Aler Grubbs said that during his recent visit to Vietnam, President Biden emphasized the US commitment to supporting Vietnam to increase its competitiveness in the global digital economy .

The Ministry of Industry and Trade and USAID signed a Memorandum of Understanding (MOU) on digital trade activities in Vietnam.

This is the first cooperation activity implemented within the framework of the newly upgraded partnership between the two countries and is of great significance, contributing to unlocking the potential of digital trade, making digital trade a key driver for the country's continued growth.

Deputy Minister of Industry and Trade Phan Thi Thang said that digital trade activities are a specific measure to implement the Party's policy on "rapid and sustainable development based mainly on science and technology, innovation and digital transformation" .

At the same time, digital transformation and digitalization of trade activities will expand new growth space, facilitate cross-border trade activities; helping Vietnam continue to maintain and improve its export competitiveness in the coming time.

The development of digital commerce will also contribute to the realization of Vietnam's sustainable and inclusive development goals. Because digital transformation will help consume fewer resources and make it easier for all businesses and people to access all development resources so that no one is left behind.

Deputy Minister of Industry and Trade Phan Thi Thang spoke at the signing ceremony.

According to the Memorandum of Understanding signed between the two parties, the Ministry of Industry and Trade and USAID will cooperate to support the Ministry of Industry and Trade in implementing programs and plans on digital transformation, e-commerce development, application of information technology and digital transformation in trade promotion.

At the same time, promote public-private dialogue to facilitate the private sector's participation and contribution to the process of building a policy and legal framework on digital trade. Increase the application of digital trade platforms, including the digital trade promotion ecosystem, ensuring network safety and security in accordance with Vietnamese law.

In addition, USAID will also support the Ministry of Industry and Trade in introducing strategies and systems for market access, trade promotion, traceability, market connection, etc. to facilitate businesses; at the same time, support capacity building for agencies under the Ministry; support the comprehensive development of businesses in line with Vietnam's socio-economic development goals.

USAID’s Digital Trade in Vietnam activities advance the Indo-Pacific Economic Framework for Prosperity (IPEF), in which Vietnam and the United States work together to accelerate innovation and drive sustained growth.

This activity builds on USAID’s successful partnership with Vietnam over the past two decades to promote trade and improve the business environment, contributing to the strategic cooperative partnership between the two countries.

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