Among these advances, economic and trade cooperation is a key pillar. US businesses attach importance to the Vietnamese market, while a growing number of Vietnamese companies are investing in the US.

In this context, Party General Secretary To Lam’s working visit to the US to attend the opening meeting of the Board of Peace for Gaza from February 18 to 20, 2026, is expected to help create further opportunities to promote bilateral economic and trade cooperation.

According to Pham Quang Vinh, former Deputy Foreign Minister of Vietnam and former Ambassador to the US,  the most important element over the three decades of Vietnam-US relations has been the building of trust and the sharing of interests between the two countries.

The same applies to economic and trade ties. Through agreements such as the Vietnam-US Bilateral Trade Agreement in December 2001 and Vietnam’s accession to the World Trade Organization in 2007, the two countries have moved closer, sharing common interests based on mutual understanding and trust.

The past 30 years of normalised relations have also coincided with Vietnam’s process of international integration.

Economic opening, reform, the implementation of Doi Moi(Renewal) process, expansion of the economy, greater public participation and deeper integration with the world have become new drivers of economic and trade development.

These factors have helped expand cooperation and strengthen competitiveness amid a constantly changing international environment, including in trade relations with the US.

Former US  Assistant Secretary of State and former Ambassador to Vietnam Daniel Kritenbrink said Vietnam has increasingly assumed an essential role and a central position in global supply chains.

Former US Assistant Secretary of State and former Ambassador to Vietnam Daniel Kritenbrink said that Vietnam’s economic achievements over the past three decades have closely paralleled progress in bilateral relations between the two countries. He noted that Vietnam’s integration into the international system is directly linked to the Doi Moi (Renewal) process and the normalisation of relations with the US, and said that trade between the two countries has made a major contribution to Vietnam’s economic development while helping strengthen its position in global supply chains.

When the two countries began establishing diplomatic relations in 1994-1995, bilateral trade stood at about US$500 million. Today, two-way trade between the two nations has reached roughly US$150 billion.

Ted Osius, Senior Vice President and Regional Managing Director of the US-ASEAN Business Council, and former US Ambassador to Vietnam, said Vietnam is drawing strong interest from U.S. businesses because they see clear opportunities in the country.

As one example, a representative of Intel recently said the company has trained 60,000 Vietnamese workers to basic engineering level. Many other US firms are similarly recognising the potential of Vietnam’s workforce.
“We currently represent around 184 of the largest companies operating in Southeast Asia, most of them from the United States, and their primary focus is Vietnam. They see opportunities where the government moves quickly to remove bottlenecks and introduces business-friendly policies. Beyond the open environment created by the government, another important factor is the workforce. Companies find highly motivated workers in Vietnam, with capabilities that continue to improve.”

Such figures underline Vietnam’s competitiveness, the openness of the US market to Vietnamese goods, and the growing purchasing power of the US market. Efforts by both sides to address tariff barriers have created additional opportunities for businesses in both countries.

The message the US business community seeks to convey through Party  General Secretary To Lam’s working visit and his attendance at the opening meeting of the Board of Peace for Gaza is a desire to continue accompanying Vietnam.

According to Ted Osius, US businesses believe the development vision set out by the Vietnamese government is sound, and that growth driven by innovation and science and technology offers an appropriate path for Vietnam and the United States to grow together.

Vietnam, US expand cooperation in high technology, energy, supply chains

On the sidelines of the sixth round of talks on a reciprocal, fair, and balanced trade agreement between Vietnam and the US, Acting Minister of Industry and Trade Le Manh Hung, who leads Vietnam’s negotiating team, has met with US Under Secretary of State for economic growth, energy, and the environment Jacob Helberg.