During his working visit to the US, where he had working sessions with the Office of the United States Trade Representative (USTR), the Department of Energy (DOE), and relevant agencies, Special Envoy of the Prime Minister, Minister of Industry and Trade Nguyen Hong Dien witnessed the signing and announcement of cooperation agreements, procurement contracts for machinery, equipment, raw materials, and services between Vietnamese and US enterprises.

Those in attendance at the event included Vietnamese Ambassador to the United States Nguyen Quoc Dung, a delegation from the Ministry of Industry and Trade, and representatives from Vietnam’s major energy and industrial corporations, including the Vietnam Oil and Gas Group (PVN) and its subsidiaries, Vietnam Electricity (EVN), Vietnam National Petroleum Group (Petrolimex), Vietnam National Coal and Mineral Industries Group (TKV), and Masan Group, along with US partners.

Speaking at the signing ceremony, Minister Nguyen Hong Dien emphasized that after three decades of diplomatic relations, a decade of comprehensive partnership, and two years of comprehensive strategic partnership, bilateral ties have seen positive development across multiple fields. Among these, economic, trade, and investment cooperation serves as a key driver for overall bilateral relations.

Regarding trade, bilateral trade turnover in 2024 reached nearly US$150 billion, marking a 20.5% increase compared to the previous year. The US has become Vietnam’s second-largest trading partner and one of its most important export markets, while also emerging as a key supplier of machinery, equipment, technology, and energy to Vietnam.

In terms of investment, the US remains one of Vietnam’s leading investors, with most major US corporations already present and conducting effective business operations in Vietnam. At the same time, an increasing number of Vietnamese enterprises are investing in the US market. As of early 2025, more than 100 Vietnamese enterprises have registered to participate in the Select USA 2025 event to explore investment and business opportunities in the US.

Sharing insights from his meetings with US agencies, Minister Nguyen Hong Dien highlighted the huge potential for Vietnam-US cooperation, particularly in fields such as science and technology, innovation, research and development, semiconductor and chip industry development, artificial intelligence (AI), the Internet of Things (IoT), new energy and renewable energy, finance, financial centers, biotechnology, and healthcare.

Vietnam hopes that the US will continue facilitating business partnerships and promoting effective investment projects, especially in high-tech and innovation-driven fields.

With the goal of further strengthening bilateral economic and trade ties, under the witness of Minister Nguyen Hong Dien, several important cooperation agreements worth a total of US$4.15 billion were signed.

The signing of these agreements and memoranda of understanding represents a concrete step toward deeper, more effective economic cooperation, thus contributing to a balanced and sustainable trade relationship between the two nations, Dien said.

Vietnam-US trade turnover tops US$22 billion in first two months

VOV.VN - The United States remains Vietnam’s largest export market, with two-way trade surpassing US$22 billion in the first two months of the year, according to the General Statistics Office (GSO).