US President Donald Trump to attend APEC Vietnam

US President Donald J. Trump's will come to Vietnam to attend the APEC Economic Leaders’ Meeting on November 10.

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US President Donald Trump will personally participate in the APEC Economic Leaders' Meeting in Vietnam

The White House yesterday announced that President Donald J. Trump will travel to the central city of Danang on November 10, 2017.

“There, he will participate in the Asia-Pacific Economic Cooperation (APEC) Economic Leaders’ Meeting and deliver a speech at the APEC CEO Summit,” said a White House statement on the visit.

“In the speech, the president will present the United States’ vision for a free and open Indo-Pacific region and underscore the important role the region plays in advancing America’s economic prosperity,” said the statement.

On November 11, President Trump will travel to Hanoi for an official visit and bilateral engagements with President Tran Dai Quang and other senior Vietnamese leaders, according to the statement.

During Prime Minister Nguyen Xuan Phuc’s official visit to the US on May 29-31, the two countries released a joint statement, highlighting that: “The two leaders [PM Phuc and President Donald Trump] heralded the bright future for the enhanced United States-Vietnam Comprehensive Partnership.”

In the statement, PM Phuc affirmed that, “Vietnam would pursue a consistent policy of economic reform and international integration, creating favorable conditions for foreign companies, including those of the United States, to do business and invest in Vietnam.”

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Deputy Prime Minister Pham Binh Minh meeting the leaders of the US Trade Council in April 2017

The two leaders also agreed to further foster the two countries’ economic, trade, and investment co-operation based on mutual benefits. Development co-operation will continue being a prime priority in the two countries’ economic and trade relations.

Many co-operation documents worth over $8 billion were inked during this visit, mainly for high-tech equipment and services (see box).

This is the second time Vietnam hosts the APEC. It hosted the APEC for the first time in 2006.

  • Vietjet Aviation Joint Stock Company signed with CFM International—a joint venture of GE and Safran—a 12-year, $3.6-billion agreement on 215 engines to power the airline’s fleet. The agreement includes other technical services, engines, and components maintenance.
  • Vietjet and GECAS (under GE) also inked a $1 billion memorandum of understanding (MoU) on aircraft financing. Accordingly, GECAS will support Vietjet to finance and/or purchase and enter into leaseback arrangements for 10 aircrafts ordered by Vietjet.
  • Vietjet and Honeywell Aviation also inked a $180-million deal on auxiliary power unit supply and technical maintenance to power the airline’s 98 airplanes. The agreement is aimed to help the maintenance of Vietjet’s fleet under world leading (???) standards.
  • Phu Cuong Group and GE inked a $2-billion deal on importing wind power turbine and maintenance services for the former’s 800 megawatt wind power plant in the southern province of Soc Trang.
  • PetroVietnam inked a $600-million deal with a US firm to import equipment for its gas-fired power plant.
  • Tin Thanh Co., Ltd. clinched an MoU with Roberts Group on a $3-billion trade and investment co-operation.

 

By Thanh Tung