US Supports Vietnam's Economic Reform

On 16 November, Vietnam, represented by the Vice Chairman of the Office of the Government, the Honorable Mr Nguyen Quoc Huy, and the United States, represented by the U.S. Ambassador to Vietnam, the Honorable Michael Marine, signed a Memorandum of Understanding to provide new policy and capacity building assistance to Vietnam. The signing, which took place at the Office of Government, will support Vietnam’s continued economic development and integration into the global economy. 

The new assistance under this MOU funds a Support for Trade Acceleration II project (STAR II) which will assist Vietnam's continuing efforts in implementing the remaining commitments in the Bilateral Trade Agreement (BTA) as well as the additional requirements in the WTO Protocol. It will also provide specialized economic and legal training essential to strengthen Vietnam’s management of the economy. Finally, it will work with the government and other donors to conduct selected economic policy analyses of the effects of WTO accession to better understand and address the adjustment needs of those sectors most affected economically and socially.