Also attending the meeting were leaders of units of the Ministry of Industry and Trade: Department of Foreign Market Development, Department of Multilateral Trade Policy, Department of Oil, Gas and Coal, Department of Legal Affairs, Department of Electricity, Department of Industry, Department of Chemicals, Department of Trade Remedies, Department of E-commerce and Digital Economy, Department of Domestic Market Management and Development, Department of Innovation, Green Transformation and Industrial Promotion.
The program is part of the annual activities of the US-ASEAN Business Council, working with Vietnamese Government agencies with the aim of learning and updating policies related to the business environment, economic, trade and industrial development priorities of the Vietnamese Government in 2025, and at the same time proposing measures to take advantage of the strengths and resources of the US business community...
Speaking at the meeting, Minister Nguyen Hong Dien welcomed members of the USABC high-ranking business delegation to work with the Ministry of Industry and Trade; expressed his joy that economic and trade cooperation between Vietnam and the United States has achieved many great results, contributing to deepening the overall bilateral relationship, increasingly developing, meeting the interests of the Governments, people and business communities of the two countries. The meeting took place at a very meaningful time in the context of celebrating nearly two years since the two countries upgraded their relations to Comprehensive Strategic Partnership (September 2023) and towards the 30th anniversary of establishing diplomatic relations (1995-2025).
Minister Nguyen Hong Dien affirmed that Vietnam always considers the United States as a leading important partner, and the economic relations between Vietnam and the United States are complementary in nature and competitive advantages. In the coming time, Vietnam will continue to consistently implement the Party and State's policies on rapid and sustainable development based on science and technology, innovation and digital transformation; reform and improve the quality of market economic institutions; improve the investment and business environment, enhance national competitiveness; build a self-reliant Vietnamese economy on the basis of mastering technology, actively integrating and diversifying markets.
Minister Nguyen Hong Dien also shared information about the working results of the Vietnamese Government delegation attending the meeting at the Chairman level of the Vietnam - US Trade and Investment Council (TIFA) with the US Trade Representative (USTR) Jamieson Greer and meetings with leaders of US ministries, politicians and businesses. The Minister of Industry and Trade said that the working results between the two sides were very positive. The two sides discussed many measures with the aim of promoting the economic, trade and investment relationship between the two countries to develop strongly, harmoniously and sustainably, commensurate with the comprehensive strategic partnership between the two countries.
On this occasion, Minister Nguyen Hong Dien asked USABC to continue to support Vietnam in upcoming policy dialogue activities with the United States; continue to help disseminate information to the US business community about Vietnam's current economic situation, thereby creating a consensus voice, supporting Vietnam in economic and trade issues; suggested that the two sides continue to strengthen cooperation in the energy sector and support Vietnam in developing supply chains in key sectors.
On behalf of the USABC business delegation, Mr. Ted Osius - President and General Director of USABC thanked Minister Nguyen Hong Dien and units of the Ministry of Industry and Trade for taking the time to receive and answer many concerns of the delegation. At the meeting, the two sides spent a lot of time discussing specifically and frankly about areas of mutual interest such as: cooperation in energy, industry, digital transformation, green transformation, energy transformation and specific projects in the fields of energy, supply chain, logistics, etc. Representatives of US businesses affirmed the importance and attractiveness of the Vietnamese market, said that they would continue to invest in Vietnam and expressed their desire to support Vietnam's efforts to maintain macroeconomic stability and develop sustainable supply chains; at the same time, committed to being a reliable partner and resource in promoting common economic goals and priorities.
At the end of the meeting, Minister Nguyen Hong Dien affirmed that Vietnam considers the United States one of its important partners and hopes that the economic and trade pillar will develop stably, making substantial and commensurate contributions to the Comprehensive Strategic Partnership that the two countries have just established.
In 2024, Vietnam will become the 8th largest trading partner of the United States with a total import-export turnover of nearly 150 billion USD, compared to the same period in 2023, of which Vietnam's exports to the United States will reach 136.6 billion USD; imports from the United States will reach 13.1 billion USD. The United States has become Vietnam's second largest trading partner, with a trade turnover exceeding 100 billion USD, and is also Vietnam's largest export market. Over the years, the United States has always been one of the largest investment partners in Vietnam, with more than 1,150 active projects and a total registered investment capital of more than 10.4 billion USD, ranking 11th out of 139 economies investing in Vietnam. During his working trip to the United States from March 12 to 15, 2025, Minister Nguyen Hong Dien attended and witnessed the signing and announcement ceremony of cooperation agreements and contracts for the purchase of machinery, equipment, raw materials, services and goods between Vietnamese and US enterprises worth 4.15 billion USD. Contracts and agreements signed and to be implemented from 2025 are worth 50.15 billion USD; businesses from both sides are continuing negotiations and are expected to sign agreements worth about 36 billion USD in the near future. Thus, the total value of economic and trade agreements signed between Vietnamese and US enterprises is expected to be implemented in the period from 2025 to about 90.3 billion USD, creating hundreds of thousands of jobs for workers of both countries. The signing of these agreements and memorandums of understanding is a practical action to promote economic, trade and investment cooperation between the two countries in a substantive, increasingly in-depth and effective manner; at the same time, contributing towards a harmonious and sustainable trade balance. |
Source: https://moit.gov.vn/tin-tuc/hoat-dong/hoat-dong-cua-lanh-dao-bo/bo-truong-nguyen-hong-dien-tiep-doan-doanh-nghiep-cap-cao-cua-hoi-dong-kinh-doanh-hoa-ky-asean-usabc-.html
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