VietNamNet Bridge – Education is one of the attractive sectors for U.S. investors and they are keen to establish colleges and universities meeting international standards in Vietnam, the U.S. ambassador to Vietnam, Ted Osius, said at a conference in Hanoi on January 26.

The event was held by the U.S. embassy in Vietnam, the Center for Strategic and International Studies (CSIS) and the Diplomatic Academy of Vietnam to mark the 20th anniversary of normalization of relations between the two countries (1995-2015).

Michael Michalak, former U.S. ambassador to Vietnam, said there are many opportunities for the U.S. and Vietnam to cooperate in educational development.

Michalak said Vietnam needs to improve educational quality to better make use of new products and technologies. Partners of the two countries have joined forces in engineering, construction and other sectors in which the U.S. is strong.

“We are in the right direction,” Michalak said.

When the Trans-Pacific Partnership (TPP) agreement is signed, it will help deepen ties between the two countries as members of this multilateral trade pact, in areas ranging from trade and investment to education. Therefore, Vietnam should reform its education and training, streamline administrative procedures and develop infrastructure as the two nations have much potential to coordinate in this sector, he said.

Regarding the trade expansion of the two countries in the past two decades, Dr. Cu Chi Loi, rector of the Institute of American Studies at the Vietnam Academy of Social Sciences, said Vietnam-U.S. relations have grown strongly, including defense.

The production of items for export to the U.S. often requires a lot of local labor, and this had helped create many jobs for the poor.

Virginia B. Foote, president and CEO of Bay Global Strategies, an enterprise specializing in business management and consultancy in Vietnam, said the TPP will support Vietnam to boost exports of farm produce, seafood and raw materials, among others.

But Foote said Vietnam should raise the added value of export products and improve the quality of education and technology sectors as they can attract big investments from the U.S.

As for TPP, Foote hoped the participating countries will solve differences to conclude negotiations and sign this multilateral trade agreement this year.

SGT