Fair and mutually benefit key to Việt Nam-US economic ties

Fair and mutually benefit key to Việt Nam-US economic ties

Deputy Prime Minister Bùi Thanh Sơn affirmed that Việt Nam attaches great importance to promoting fair and mutually beneficial economic cooperation with the United States.

The Việt Nam Chamber of Commerce and Industry (VCCI), in collaboration with the American Chamber of Commerce in Hà Nội (AmCham) and the US Chamber of Commerce, hosted the 8th Việt Nam–US Business Summit in Hà Nội on November 12 under the theme 'A New Era of Growth for Mutually Beneficial Trade Relations.'

Deputy Prime Minister Bùi Thanh Sơn affirmed that Việt Nam attaches great importance to promoting fair and mutually beneficial economic cooperation with the United States.

“In a world full of volatility, only trust can create cooperation; only cooperation can bring about prosperity; and only prosperity can ensure a sustainable future,” he said.

Sơn stressed that Việt Nam remains committed to building a stable and favourable business environment for all investors, especially American enterprises, under the principle of working together, 'winning together, sharing together and developing together.'

As the two countries mark the 30th anniversary of diplomatic relations in 2025, Sơn described the journey from “former adversaries to partners” as one of strategic vision and shared determination. He summarised the partnership with five key phrases: strategic trust, comprehensive cooperation, win–win development, responsible partnership and future creation.

Bilateral trade has surpassed US$100 billion, with the US remaining one of Việt Nam’s largest partners. Most major US corporations have established an effective presence in Việt Nam, and investment is expected to rise further.

Sơn highlighted that the partnership is one of “shared success,” built on complementary strengths: the US in technology, capital and management, and Việt Nam in its young, skilled workforce and strategic location.

He said digital cooperation, science and technology and innovation are priority pillars of the Comprehensive Strategic Partnership, creating momentum for a green and sustainable future in the digital age.

The Deputy Prime Minister proposed five key directions for stronger cooperation: developing semiconductor and high-tech ecosystems; expanding clean energy and green growth partnerships; strengthening supply chain connectivity; fostering innovation and digital transformation; and enhancing education, training and technology transfer to produce high-quality engineers and global managers.

He also urged the US business community to promote high-level visits, support recognition of Việt Nam as a full market economy, and advocate for removing restrictions on high-tech exports, particularly those under the US Department of Commerce’s D1 and D3 categories.

Sơn called on US firms to expand long-term investment in Việt Nam, a safe, stable and promising destination, and to contribute to a balanced bilateral trade relationship.

US Assistant Secretary of State Michael DeSombre reaffirmed Việt Nam’s strong potential to attract investment, saying US enterprises stand ready to strengthen their leadership as key partners.

VCCI Chairman Dr Hồ Sỹ Hùng said VCCI will continue to work closely with AmCham and the US Chamber of Commerce to promote new cooperation initiatives and support US firms in deepening partnerships in Việt Nam.

AmCham Chairman Michael Nguyen noted that global geopolitical shifts have further motivated US–Việt Nam economic cooperation. He said the Summit’s discussions would help improve the business climate and promote inclusive prosperity in Việt Nam. 

Bizhub