Infrastructure, human resources development crucial for Vietnam: US official

Illustrative image (Source: VNA)

Vietnam should invest in the infrastructure system and human resources in order to enhance its role in the new global supply chain, Whitney Baird, Principal Deputy Assistant Secretary for the Bureau of Economic and Business Affairs at the US Department of State told Thanh Nien (Young People) newspaper.

Baird, who visited Vietnam to attend the Organisation for Economic Cooperation and Development (OECD) Southeast Asia Ministerial Forum, said that the US Agency for International Development (USAID) and the customs sector of Vietnam are working together to improve the efficiency and create favourable conditions for trading activities. The development of the infrastructure system will support this process, she held.

Upskilling, re-skilling, and investing in education, especially in STEM (science, technology, engineering and math) subjects will help prepare human resources, she said, stressing that this should be continuously implemented not only in Vietnam but also in the US and every other country.

The official said that the US is striving to restructure the global supply chain after the COVID-19 pandemic as well as geopolitical tensions and extreme weather situations, adding that the pandemic has exposed the urgent need to persify supply chains and Vietnam is certainly in a good position to be an important partner this process.

She showed delight that Vietnam has decided to join all the four pillars of the Indo-Pacific Economic Framework for Prosperity (IPEF), including that on supply chain.

To date, 13 countries have participated in IPEF, which is an opportunity to expand trade discussions, including those on supply chains with partners in the Indo-Pacific region, including Vietnam, she said.

Baird said that the America Chamber of Commerce in Vietnam (AmCham) has told her about the great business climate in Vietnam. According to her, Vietnam has many good competitive advantages in the region. She underlined the need to ensure women's full participation in all areas of life so that they can truly tap into a country's growth potential.

Baird also highlighted the significance of increased investment in clean energy transition, electric vehicles as the direction for the future./.