Vietnam will buy billions of dollars worth of liquefied gas, aircraft... from the US

Contracts and agreements signed and to be implemented from 2025 between Vietnamese and US enterprises are worth 50.15 billion USD, focusing on purchasing aircraft, aviation services, oil and gas exploitation, and importing petrochemical products.

Contracts and agreements signed and to be implemented from 2025 between Vietnamese and US enterprises are worth 50.15 billion USD, focusing on purchasing aircraft, aviation services, oil and gas exploitation, and importing petrochemical products.

Minister Nguyen Hong Dien speaks at the signing ceremony of cooperation agreements between Vietnamese and US enterprises.

During his working trip to the US to work with the US Trade Representative (USTR), the Department of Energy (DOE) and relevant agencies, Prime Minister's Special Envoy and Minister of Industry and Trade Nguyen Hong Dien witnessed the signing ceremony and announcement of cooperation agreements and contracts for the purchase of machinery, equipment, raw materials, services and goods between Vietnamese and US enterprises.

Speaking at the signing ceremony, Minister Nguyen Hong Dien affirmed: "After 30 years of establishing diplomatic relations, 10 years of establishing comprehensive partnership and 2 years of upgrading relations to comprehensive strategic partnership, the relationship between the two countries has been developing increasingly positively and firmly in all fields."

In particular, the economic - trade - investment pillar plays a key role in promoting the overall bilateral relationship. In terms of trade, bilateral trade turnover in 2024 will reach nearly 150 billion USD, an increase of 20.5% over the same period last year.

In terms of investment, the US continues to be one of Vietnam's leading investment partners, with most major US corporations having a presence and effectively investing in Vietnam, while more and more Vietnamese enterprises have invested in the US market.

By this time in 2025, more than 100 Vietnamese businesses have registered to participate in the Select USA 2025 event to learn about investment and business opportunities in the US.

In the spirit of further promoting bilateral economic, trade and investment cooperation between Vietnam and the US, many important cooperation agreements with a total value of 4.15 billion USD were signed.

Accordingly, PetroVietnam Gas Corporation (PVGas) signed Memorandums of Understanding (MOUs) with Conoco Phillips Corporation.

PetroVietnam Gas Corporation (PVGas) signed a memorandum of understanding with Excelerate Group on a number of long-term LNG purchase and sale agreements.

Binh Son Refining and Petrochemical Joint Stock Company (BSR) signed a consulting contract with Kellogg Brown & Root Group (KBR) for a pre-feasibility study on sustainable aviation fuel (SAF).

The agreement between BSR and KBR is a strategic step, helping BSR access advanced technologies and technical solutions for energy transition and carbon emission reduction; at the same time, it is also an opportunity for BSR to expand investment in new energy and sustainable fuel projects, contributing significantly to the energy transition and carbon emission reduction roadmap.

PetroVietnam Power Corporation (PVPower) and GE Vernova have signed a Memorandum of Understanding (MOU) on the procurement of GE equipment and services for gas-fired power plants developed by PVPower.

With this new memorandum of understanding, PVPower and GE Vernova continue to affirm their shared commitment to developing sustainable and advanced solutions for the power and oil and gas industries. This will help PVPower seize new opportunities in the context of globalization and energy transformation, while affirming the Group's position in the race for digital technology and sustainable energy.

Signing of a memorandum of understanding on the procurement of equipment and services for gas-fired power plants between PVPower and GE Vernova.

Vietnam National Petroleum Group (Petrolimex) signed a Memorandum of Understanding with Marquis Energy to facilitate the trading and import of biofuels. These are very meaningful cooperation agreements in the context of Vietnam accelerating the roadmap to increase the rate of biofuel use.

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.

Of which, the contracts and agreements signed and to be implemented from 2025 are 50.15 billion USD, focusing on purchasing aircraft, aviation services, oil and gas exploitation, and importing petrochemical products.

The contracts and agreements signed on March 13 are worth 4.15 billion USD; the agreements being negotiated by businesses on both sides and expected to be signed in the near future are worth about 36 billion USD.

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.

LIST OF AGREEMENTS SIGNED BETWEEN VIETNAM AND US ENTERPRISES

On the occasion of the working trip to the US of the Prime Minister's Special Envoy Delegation, Minister of Industry and Trade Nguyen Hong Dien

STT	Agreement name	Partner Vietnam	Partner USA
1	Memorandum of Understanding on Long-Term LNG Purchase Agreement	PVGas	Conoco Phillips
2	Memorandum of Understanding on Long-Term LNG Purchase Agreement	PVGas	Excelerate
3	Consulting contract for pre-feasibility study of sustainable aviation fuel at Dung Quat refinery	Binh Son Refining and Petrochemical	KBR
4	Memorandum of Understanding on the Procurement of GE Equipment and Services for Gas Power Plants	PVPower	GE Vernova
5	Memorandum of Understanding on Cooperation and Trade Expansion with the US Ethanol Industry.	Petrolimex	US Grains Council; Renewable Fuels Association; Growth Energy Association
6	Memorandum of Understanding on Establishing a Cooperation Framework to Facilitate Biofuel Trade and Import	Petrolimex	Marquis Energy