“US and Vietnam Aim for Technology Transfer Partnership in a Pivotal Arena”

According to the Government Portal, the roundtable conference with numerous leading enterprises and corporations of the US-ASEAN Business Council (USABC) was the last activity of the working delegation on this visit, marking the beginning of a sustainable and effective cooperation between the two countries.

Eight agreements were signed, totaling $1.1 billion in value

At the event, eight agreements were signed, totaling $1.1 billion in value. Along with that, the Memorandums of Understanding (MOU) signed earlier in Iowa, Ohio, and Maryland bring the total value of agreements to purchase US agricultural products to nearly $3 billion.

The Minister of Agriculture and Environment affirmed: “Up to this point, it can be said that the working trip has been a great success, yielding very positive results.”

Mr. Ted Osius, Chairman of USABC, evaluated that: “The agreements and throughout the trip of the Vietnamese delegation are vivid evidence of the positive partnership between the two countries, while opening up a promising door of cooperation between the two complementary agricultural sectors.”

At the first stop of Minister Do Duc Duy’s working trip to the US in Iowa on June 2nd, Vietnamese agricultural enterprises signed four agreements worth up to $800 million to import agricultural products such as corn, soybeans, and meat from Iowa in the next three years.

Ohio was the next stop for the working delegation of the Ministry of Agriculture and Environment and Vietnamese enterprises. On June 4th, under the witness of the Ministry’s leaders and representatives of Ohio’s agricultural associations, the Vietnamese delegation continued to sign contracts worth more than $600 million to import more products such as corn, corn distiller’s dried grains, and soybeans from this state.

During a short working session in Maryland on the morning of June 6th, the specialized agencies of the Ministry of Agriculture and Environment witnessed the signing of agreements worth about $300 million for the import of agricultural products and meat from the US.

During the signing ceremony, the Minister of Agriculture and Environment exchanged with USABC on cooperation to realize Vietnam’s Net Zero target. Here, US businesses shared initiatives, ideas, and expectations for cooperation with Vietnam in technology transfer and green production.

Mr. Miguel Bates-Bingosa, Citi Group’s Vice President of International Relations, shared that Citi celebrated 30 years of establishing an office in Vietnam last year. In line with Citi’s global commitment to promoting the circular economy, the Group has implemented many specific activities in Vietnam, contributing to mitigating the impacts of climate change.

“As a financial intermediary, Citi wants to accompany Vietnam in developing a climate finance market by providing verified carbon credits to global customers, thereby reducing emissions and improving the livelihoods and health of rural people,” said the representative of Citi.

Atmo CEO Alex Levy also expressed his expectation to cooperate with the Ministry of Agriculture and Environment and the National Center for Hydro-Meteorological Forecasting to apply AI to help Vietnam improve its forecasting capacity and cope with extreme weather. He said that right after the meeting, Atmo would head to Hanoi for work.

Mr. Alex praised the idea of building joint technology innovation centers between Vietnam and US businesses initiated by the Ministry of Agriculture and Environment. Atmo is ready to accompany Vietnam’s leading meteorological centers, aiming to provide weather forecasting services for disaster management.

Vietnam and the US aim for cooperation in technology transfer and advanced farming techniques in agriculture

Through the series of agricultural trade connection activities, Vietnamese enterprises have signed a series of MOUs with a total value of nearly $3 billion. This can be considered an unexpected success, reflecting the initiative and determination of Vietnamese agricultural enterprises in seeking partners.

Second, the forums and contacts with the US side have provided Vietnamese and American businesses with market information, consumption trends, and the situation of agricultural, forestry, and aquatic product development in each country. This opens up opportunities for businesses from both countries to access and expand markets, implement investment projects, and promote business cooperation in the future.

Third, through field surveys and working sessions with the state governments and local businesses, the Vietnamese delegation has explored cooperation in technology transfer, application of advanced farming techniques, and solutions for developing agriculture in an ecological, intelligent, circular, and sustainable direction.

Finally, through meetings and contacts with representatives of the US Congress and political circles, state governments, business communities, and local people, the Vietnamese delegation has clearly demonstrated its position and national commitment in promoting agricultural trade, towards a more harmonious and balanced trade relationship between the two countries.

Minister Do Duc Duy emphasized: “The Vietnamese Government attaches great importance to the Comprehensive Strategic Partnership with the US and continually strives to foster this relationship to new heights.”