Business in Vietnam

Cooperation progress in key areas mentioned at the summit will help fine-tune the business environment and enhance the role of the private sector, helping ensure socio-economic development and foster prosperity in Vietnam, he added.

Senior Director of AmCham’s Southeast Asia John Goyer underscored that the business associations of both sides are responsible for elevating the robust economic ties into a new height and joining hands with the two Governments to overcome existing challenges.

The U.S. – Vietnam Business Summit 2023 sharpened focus on Vietnam’s development priorities, including removing barriers to mobilizing resources for business and production, promoting the transition to clean and renewable energy, and enhancing sustainable investment.

The U.S. is currently the second-largest trade partner of Vietnam, while Vietnam has become one of the 10 biggest trade partners of the U.S. and an important link in the U.S.’s global supply chain.

Nearly 30 years after the establishment of diplomatic relations, bilateral trade increased 300 folds to $124 billion, making the U.S. the biggest importer of Vietnam.

The U.S. is injecting $11.8 billion in 1,306 valid projects in Vietnam, ranking 11th among the foreign investors in the Southeast Asian country.

Collected