Vietnam ready to increase purchases of US goods

Vietnam ready to increase purchases of US goods

Vietnam is willing to step up imports from the US, with a focus on machinery, equipment, and high technologies.

Acting Minister Le Manh Hung exchanges views with US enterprises at the roundtable

As part of the sixth round of negotiations on the Vietnam – US Fair and Balanced Reciprocal Trade Agreement, on February 2 in Washington, D.C., Acting Minister of Industry and Trade Le Manh Hung participated in a roundtable with the US – ASEAN Business Council (USABC).

Acting Minister Hung exchanged views with a group of US enterprises in the energy, industrial, and aviation sectors under the USABC. The event was a key business dialogue held on the sidelines of the sixth negotiation round of the Fair and Balanced Reciprocal Trade Agreement, reflecting Vietnam’s determination to consolidate and elevate bilateral economic and trade relations in a stable and sustainable way.

Speaking at the event, Acting Minister Hung said, "The US is one of Vietnam’s leading economic and trade partners. Bilateral relations should be shaped with a long-term vision, not only based on trade volumes or investment flows, but on the increasingly deep complementarities between the two economies, Vietnam’s growing role in global supply chains, and the strengthening alignment of strategic interests between the two countries."

On that basis, Vietnam seeks to work with the US to build a stable, balanced, and predictable framework for economic and trade cooperation, thereby fostering long-term confidence for the business communities of both countries.

"Vietnam is ready to further expand imports from the US, particularly through procurement contracts for machinery, equipment, and high technologies," he added. "In recent years, Vietnamese enterprises have implemented a number of large-scale contracts, notably Vietjet’s agreement to purchase 200 aircraft and Vietnam Airlines’ contract to buy 50 aircraft from Boeing. These deals have helped develop Vietnam – US trade relations in a more balanced, sustainable, and mutually beneficial direction."

Addressing energy-related issues of interest to US companies, with the participation of major corporations in oil and gas, liquefied natural gas (LNG), and renewable energy, the Acting Minister underscored that ensuring energy security is one of Vietnam’s key development priorities.

Accordingly, LNG has been identified as an important transitional energy source, helping to balance supply and demand and support the energy transition, while offshore wind power and other clean energy sources represent a long-term strategic direction.

In the industrial and aviation sectors, Vietnam values and seeks to long-term cooperation in the development of modern industry, logistics, and air connectivity. The country prioritises selective investment in foundational industries with high value added, linked to supply chain development, supporting industries, technology transfer, and workforce training.

"Boeing continues to expand its supply chain in Vietnam, strengthen cooperation with domestic enterprises, and accelerate aircraft deliveries under signed contracts, thereby supporting Vietnamese airlines in expanding their fleets and enhancing operational capacity," Acting Minister Hung said.

Regarding high technology and the digital economy, the acting minister added, "Semiconductors, high technology, and the digital economy are among Vietnam’s strategic priority areas. Our government is committed to institutional reforms, developing digital infrastructure, clean energy in production, and ensuring a secure competitive environment for investors."

Following the plenary session, Hung held separate meetings with leaders of Apple, Excelerate Energy, and ExxonMobil to discuss in detail cooperation in high technology and energy. At these meetings, the Acting Minister listened to enterprises’ proposals, while clarifying Vietnam’s policy priorities and commitments to creating a stable, transparent, and favourable investment environment for long-term projects.

"The Vietnamese government regards the US business community as an important, long-term, and trusted partner, and is committed to further strengthening policy dialogue, promptly addressing difficulties within the legal framework, and accompanying enterprises based on shared development," he said. "This serves as an important foundation for Vietnam – US economic and trade relations to be consolidated in a way that is both stable and enduring in the period ahead."

VIR