Conference examines economic aspects of Vietnam-US relations
Trade is considered the most successful cooperation field between Vietnam and the US in the 20 years since they normalised their diplomatic ties, as heard at a conference in HCM City on July 31.
Garment is one of the main exports to the US (Source: VNA)
Trade is considered the most successful cooperation field between Vietnam and the US in the 20 years since they normalised their diplomatic ties, as heard at a conference in Ho Chi Minh City on July 31.
Speaking at the event, co-organised by the Vietnam Union of Friendship Organisations and the Vietnam-US Friendship Association in HCM City, Deputy Minister of Industry and Trade Tran Tuan Anh affirmed that trade and economics have contributed importantly to the sustainable development of the bilateral ties.
Once the Trans-Pacific Partnership (TPP) agreement is signed, the two countries’ partnership will be lifted to a new level, he said, adding that the increased opportunities brought by the agreement will be coupled with increased challenges which require the Government, businesses and people to take active measures to turn challenges into opportunities.
US Consul General in the city Rena Bitter noted that over the past two decades, the two countries have enjoyed numerous achievements in bilateral relations with the value of trade hitting 35 billion USD in 2014 from 500 million USD in 1995.
Educational cooperation has also seen positive results, she said, adding that the number of Vietnamese students in the US is ranked eighth in the foreign student community in the country.
The relationship will be enhanced once the Harvard-affiliated Fulbright University Vietnam is opened in Ho Chi Minh City, she added.
Huynh The Du, a lecturer for the Fulbright Economics Teaching Programme, said that the US is an extremely important element in Vietnam’s international integration process. The TPP, with the participation of both the US and Vietnam, will help Vietnam enter a new stage of economic integration.-VNA
Party General Secretary Nguyen Phu Trong’s official visit to the US from July 6-10 is a historic event, marking a new milestone in the Vietnam-US relationship.
The recent visit of Vietnam’s Party leader Nguyen Phu Trong to the United States marks a significant milestone in the growing relationship between the two nations.
The Vietnam Union of Friendship Organisations and Ministry of Foreign Affairs held a banquet on July 30 to celebrate the 20th anniversary of the normalisation of Vietnam-US diplomatic relations.
The Vietnam Embassy in the US celebrated the 20th founding anniversary of the two countries’ diplomatic ties (July 12, 1995) with a ceremony in Washington D.C. on July 30.
According to Mastercard data, Vietnam has recorded a remarkable 92% compound annual growth rate (CAGR) in contactless transaction volume from Q4 2022 to Q4 2024.
Tuan expressed his confidence that LH, with its expertise and experience, would swiftly implement the urban area project, contributing to a modern urban landscape for the province.
With its strategic location, abundant workforce, and modern infrastructure, Vietnam holds significant potential to become a leading centre for power and electronics production in the region and the world.
The renewable energy workforce training and development centre, invested by Germany's GEO Group, is expected to be a cornerstone in shaping Binh Dinh as a renewable energy and innovation hub in central Vietnam, meeting the growing demand for skilled technical personnel in offshore wind, solar farms, and green hydrogen projects.
A notable trend is the shift toward satellite regions. With land scarcity and soaring prices in Ho Chi Minh City and Hanoi, investors are eyeing provinces like Hung Yen, Bac Ninh, and Hai Phong, which are benefiting from improved technical infrastructure and transport connectivity.
To further strengthen private-sector innovation, Bac Ninh plans to accelerate administrative reforms, build a digital, service-oriented government, and develop an integrated innovation ecosystem that connects businesses with domestic and international institutions, universities, and experts.
The participation of H&M, one of the world's largest fashion corporations, in Vietnam International Sourcing 2025 in Ho Chi Minh City in early September is considered a special highlight, opening up many cooperation opportunities for Vietnamese businesses in the fashion, textiles and sustainable supply chains.
This latest order builds on a previous agreement signed at the Singapore Airshow last year for 40 engines, bringing the total number of Trent 7000 engines ordered by the airline to 80.
Minister of Industry and Trade Nguyen Hong Dien acknowledged that despite concerted efforts by ministries and local authorities in combating fake and substandard goods, the situation remains highly complicated, attributing the persistent challenges to high profits luring numerous participants, increasingly sophisticated violations, limited resources within enforcement agencies.
The group also placed among the Top 5 energy companies in Southeast Asia and secured the top spot among the largest Vietnamese enterprises featured on the list.
The zone will cover 1,881 ha, comprising functional areas for production, logistics, trade and services, digital technology industry, information technology, and innovation.
Dung underlined several key objectives, including a comprehensive review of the legal framework governing SOEs, and called for updates that reflect international standards and support modern, transparent governance.
While the US market has become more difficult to access due to new tax policies, Australia could play the role of a trade cushion, helping to reduce shocks and maintain export momentum for Vietnam's shrimp industry.
Vietnam Cycle Expo 2025 will coincide with the Vietnam Sport Show 2025, an international exhibition on sports and outdoor entertainment, expected to attract more than 20,000 visitors in the three-day event.
Despite global economic uncertainties, Binh Duong has maintained strong momentum in both exports and industrial production during the first half of 2025.
Garment is one of the main exports to the US (Source: VNA)
