Mekong Memo Vietnam 20230914

Mekong Memo Vietnam Weekly, September 14, 2023: Business, politics, finance, trade & legal news.

Sep 14, 2023

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With that said, here is your Mekong Memo Vietnam for the week of September 14, 2023:

Headlines:

Biden’s visit: A Western View

Biden’s Visit: A Chinese View

Biden’s Visit: A Vietnamese View

Vietnam's Top 500 Profitable Companies of 2023 Revealed

Chinese Firms Eye Investment Expansion in the Mekong Delta

US Tech Giants Forge Strategic Partnerships in Vietnam

Boeing, Walmart, and Amazon Scout for Vietnamese Suppliers

IFC Pledges $1.9 Billion to Bolster Vietnam's Economy and Sustainability

Manufacturing Sector Rebounds with New Orders and Exports

Vietnam Poised for Decade of Rapid Growth

Vietnam: A Magnet for Global Business Investment

Potential for Digital Nomad-Friendly Real Estate

ManpowerGroup: Labor Market Promising, but Challenges Remain

Anti-Money Laundering Bureau to Gain Expanded Powers

Green Growth Initiatives Need More Gov’t Support

Abandoned Motorbikes a Parking Lot Mystery

The big story this week of course is the US President’s recent visit to Vietnam. There were hundreds of articles written before, during and after the trip, but we thought it would be interesting to focus the post-trip summary on three slightly different source perspectives. We think we captured the subtle differences in perspective, but only time will tell what the impact of the visit will be on the country in the long term:

Biden’s visit: A Western View

Relations Reach New Heights Amid Geopolitical Tensions

President Joe Biden's visit to Vietnam has elevated the U.S.-Vietnam relationship to a comprehensive strategic partnership, signaling a significant shift in diplomatic ties. The President was at pains to emphasize that the visit aims to diversify the U.S. supply chain and build a stable base in the region, rather than with the objective of containing China. Both countries are focusing on technological cooperation, including semiconductors and artificial intelligence. Despite the geopolitical implications, Vietnam maintains a balanced approach, not aligning exclusively with either the U.S. or China.

Biden’s Visit: A Chinese View

A Symbolic Gesture with Limited Impact on China-Vietnam Relations

President Biden's recent visit to Vietnam aimed to elevate U.S.-Vietnam relations and counter China's influence. However, experts argue that the visit serves mostly as a symbolic gesture with limited outcomes. While Biden secured deals on semiconductors and minerals, the visit is unlikely to significantly alter Vietnam's existing close ties with China, particularly in supply chains. The U.S. is also seen as trying to drive a wedge between China and its neighbors, but Vietnam is cautious not to jeopardize its relations with China. A spokeswoman of China’s Foreign Ministry also claimed that the US was playing “zero-sum” games and holding a “Cold War” mentality when dealing with other Asian countries.

Biden’s Visit: A Vietnamese View

New Opportunities on the Horizon

President Biden's visit to Vietnam has culminated in a Comprehensive Strategic Partnership, focusing on investment, innovation, and high-tech cooperation. Both nations aim to strengthen economic, trade, and investment ties, with a focus on science and technology. Vietnam sees the U.S. as a partner of strategic importance, and both countries are committed to peace, cooperation, and sustainable development. The partnership is expected to open new avenues for collaboration in areas like artificial intelligence, telecommunications, and green economy.

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