Da Nang (VNA) – US President Donald Trump praised Vietnam as oneof the fastest-growing in the world in a keynote speech delivered at the APEC CEOSummit in the central city of Da Nang on November 10.

“Anopen Vietnamese economy is one of the fastest-growing economies on Earth,” hesaid.

Inthe early 1990s, nearly half of Vietnam survived on just a few dollars a day,and one in four did not have any electricity, he said, adding that it hasalready increased more than 30 times over, and the Vietnamese students rankamong the best students in the world.

“That is very impressive,” he commented.

He also complimented the central city of Da Nang, saying that the port city isbustling with ships from around the world.

“Engineering marvels, like the Dragon Bridge, welcome millions who come tovisit Da Nang’s stunning beaches, shining lights, and ancient charms,” he said.

In his speech, President Trump said the US will deal on a basis of mutualrespect and mutual benefit.

“We will compete on a fair and equal basis.  We are not going to let theUnited States be taken advantage of anymore,” he said.
 
“We will respect your independence and your sovereignty. We want you to bestrong, prosperous, and self-reliant, rooted in your history, and branching outtoward the future,” he said.

“That is how we will thrive and grow together, in partnerships of real andlasting value,” he noted

Accordingto President Trump, the United States is prepared to work with each of theleaders to achieve mutually beneficial commerce.
 
The US will make bilateral trade agreements with any economy in the region thatwants to be its partner and that will abide by the principles of fair andreciprocal trade, he affirmed.

Hesaid he will encourage all economies to speak out loudly when the principles offairness and reciprocity are violated.
 
The President said his country is refocusing on existing development effortsand is committed to reforming development finance institutions so that theybetter incentivise private sector investment in other economies.

“Wealso know that we will not have lasting prosperity if we do not confront gravethreats to security, sovereignty, and stability facing our world today,” heasserted.

“Wemust uphold principles that have benefited all of us, like respect for therule of law, individual rights, and freedom of navigation and overflight,including open shipping lanes,” he said, adding that these principles createstability and build trust, security, and prosperity among economies.-VNA