Archive for November 4, 2010

A Handful of New Deals in Vietnam

Posted in Economics, Politics with tags , , , , on November 4, 2010 by Ian Pham

There is an interesting trend happening in Vietnam right now, and that is the country reaching a number of new agreements with several different countries.  Besides the new agreement with Japan, which makes the two countries partners in mineral exportation and nuclear development, Vietnam has also reached new deals with the U.S. and the Russian Federation.  (Left to Right: Japanese Prime Minister Naoto Kan, Vietnamese Prime Minister Nguyen Tan Dung, and Chinese Premier Wen Jiabao)

The deal with Russia signifies the two countries future cooperation in nuclear development, further adding to the development of Vietnam’s nuclear industry.  The agreement details Russia’s readiness to help build Vietnam’s first nuclear power plant, one of two reactors planned for completion by 2020.  Russian officials are also hinting at further cooperations between the two countries as future negotiations are scheduled.  (Picture: Russian President Dimitri Medvedev)

From the U.S., Vietnam purchased eight new 787-9 Dreamliner planes from Boeing, a major U.S. airline company.  Vietnamese officials say that future talks may bring further business transactions between the U.S. and Vietnam.  The new agreement was signed this past weekend at a ceremony in Hanoi where Hilary Clinton (right), and the rest of the leaders were in attendance.

Not bad at all, I must say.  Though the future is still uncertain, these new deals paint a better picture of what Vietnam can become, as long as the rulers follow through.  It’s still too early to tell what the intentions of the Vietnamese government are.  However, any interaction with the free and democratic countries is a positive step.  Therefore, my optimistic side tells me to expect the best.  Still, we can’t make any conclusions yet, we need results first.