Vietnam is one of nine key marketsin which the US aims to double exports over the next five years, said Ex-Im Bank chairman and president Fred Hochberg during a press briefing in Hanoi on Tuesday.
Hochberg was on a three-day visit to the country in which ExIm Bank and the Vietnamese government inked a deal to boost the country's infrastructure growth via US$500 million in American funds set aside for the purchase of US goods and services.
As the official export-credit agency of the US, since 1998 Ex-Im Bank has provided short and medium-term financing to Vietnam, with current exposure in the country estimated at $231 million.
Hochberg said Vietnam's rapid economic growth could lead to less ODA funds available in the future, and the country "needs us to come in and fill the gap," adding that there are still concerns in Vietnam for the lack of transparency in implementing development projects.
The chairman was also in talks with Vietnam Airlines but only said the meeting revolved around the carrier's plan to extend its fleet with additional orders of Boeing 787s. There was no signed agreement.