Washington - In an effort to enhance relations with Vietnam, U.S. President Joe Biden is planning a state visit to the country and is expected to announce an agreement aimed at bolstering economic cooperation between the two nations.
Vietnam is also actively working to strengthen its ties with the United States. The establishment of a "comprehensive strategic partnership" is a diplomatic status that Vietnam has previously reserved for only a select few countries: China, Russia, India, and South Korea.
This move by Vietnam signals its willingness to potentially upset China, recognizing the importance of aligning with the United States given China's increasingly assertive military posture in the region, as noted by analysts.
Derek Grossman, a senior defense analyst at Rand Corp and former U.S. intelligence officer, remarked, "If you have the United States on the same pedestal as China, that is saying a lot to Beijing, but also to the rest of the region and the world. That's saying the U.S.-Vietnam relationship has come a long way since 1995," when the two countries normalized their relations.
The proposed agreement, put forth by the Biden administration in recent months, is part of a broader U.S. strategy to establish economic and security partnerships in the Indo-Pacific as a countermeasure to Chinese economic and military influence.
This agreement is expected to promote increased economic collaboration between the United States and Vietnam, as the U.S. seeks to diversify its manufacturing supply chains away from China, while Vietnam aims to advance its technological capabilities.
A senior Biden administration official, speaking anonymously, noted that American semiconductor companies are willing to support Vietnam in its pursuit of advanced technologies.
The United States currently stands as the primary destination for Vietnam's exports, marking Vietnam's remarkable economic transformation over the past two decades.
VinFast, Vietnam's leading electric vehicle manufacturer, is expanding its presence, selling sleek SUVs and conducting an initial public offering of its stock.
U.S. companies are also eager to engage in business ventures with Vietnam. Suppliers for tech giants like Apple and Google have made significant investments in new factories in Vietnam. Boeing, which previously announced its intentions to expand its operations in the country, is expected to make a major announcement.
The deepening of these relations also holds the potential to bolster defense and security cooperation between the United States and Vietnam. Increased U.S. aircraft carrier visits, joint military exercises, and arms sales are anticipated between Hanoi and Washington. Vietnam, one of the top purchasers of Russian arms, has publicly expressed its desire to diversify its military capabilities.