Vietnamese corporations formulate plans to purchase US goods

Vietnamese corporations formulate plans to purchase US goods

Major Vietnamese corporations are stepping up meetings with US partners to advance contracts under agreements and memorandums of understanding.

On May 7, Minister of Industry and Trade Nguyen Hong Dien chaired a working session with several major corporations and groups to promote trade agreements with the US. The move aimed to balance the trade relationship between Vietnam and the US.

The working session saw the participation of leading corporations such as Petrovietnam, Petrolimex, PV Gas, EVN, TKV, Vietnam Airlines, Vietjet, THACO Industry, Viettel, and VNPT. Over the past few years, major Vietnamese corporations have increasingly imported US goods worth several billion dollars, including aircraft, machinery, equipment, turbines for gas-fired power plants, power transmission systems, GPU chips, raw materials, and fuel.

At the event, they reported the progress of purchase agreements signed with American partners in 2025. Meanwhile, they also made assessments and forecasts on demand for this year and beyond for imports of equipment, goods, services, raw materials, and fuel.

Leaders of the corporations said that they will ramp up meetings and work with American partners by June to advance the signing of contracts in a bid to realise previously signed agreements and MoUs.

In response, Dien, who leads the government’s negotiation delegation on reciprocal trade agreements with the US, said that Vietnam has a demand to purchase goods, equipment, and services from the US in large quantities, with high and stable value. These are all sectors that the US excels in and that Vietnam has a demand for. However, trade between the two countries has yet to match its potential.

The minister emphasised that both sides need to review and remove obstacles, thereby facilitating businesses to buy and sell essential products. He called on businesses to take a more proactive approach to unlock this enormous potential.

"This is a practical action to deepen economic, trade, and investment cooperation between the two countries in a substantive and effective manner while contributing to a harmonious and sustainable trade balance," said Dien.

Latest statistics show that two-way trade turnover between Vietnam and the US reached $49.1 billion in the first four months of this year. Among them, Vietnam's exports to the US increased by 25.1 per cent, while US exports to Vietnam climbed by nearly 26 per cent.

VIR