VCCI President Vu Tien Loc at the event (Photo: VNA)
Hanoi (VNA) – The US – Vietnam Business Summit took place in Hanoion October 9, on the occasion of the 25th ꦜanniversary of bilateral diplomatic ties.
The event was co-hosted by the American Chamber of Commerce inVietnam (AmCham), the US Chamber of Commerce (USCC) and the Vietnam Chamber ofCommerce and Industry (VCCI). Speaking at the event, VCCI President Vu Tien Loc spoke highlyof the two Governments’ efforts to establish bilateral cooperation in various areas,pushing two-way trade to nearly 76 billion USD in 2019 from 450 million USD in1994. The recent shift of global supply chain has lifted Vietnam tothe ninth place out of the biggest exporters to the US, from the 12th place. The two economies are increasingly supplementary, he said.
While Vietnam is strong in shipping aquatic products, cashewnuts, apparel, leather and footwear to the US, the American country is a major supplier of hi-tech machinery, aviation equipment, telecommunication services,energy, liquefied gas and raw farm produce.
Vietnam has become the 27th largest importer a🐲nd the 16th biggest trade partner of the US.
With a 90 million population, young workforce, open andtransparent economic policy, Vietnam is seen as an attractive destination for foreigninvestors. Over 130 countries and territories are investing in the country. As of June, the US was the 11th largest investor in Vietnam with 988 projects capitalised at more than 9.3 billion USD, covering 42 out of 63 localities in the nation.
The US now ranks second among countries and territories receiving Vietnam's investment in 2019, with a total value of 93.4 million USD, or18.4 percent of Vietnam’s outbound investment. In the first quarter of 2020, the US took the lead in receiving investment from Vietnam with 20.1 million USD, equal to 40.8 percent.
Loc affirmed that the US’s multinational groups not onlycontributed to economic growth, technologicaꩲl transfer but also socialdevelopment such as improving working environment, rai🍷sing workers’ income andactively joining social activities in Vietnam.
On the occasion, Amcham and VCCI announced the establishmentof the Vietnam – US Joint Business Council to collect the two businesscommunities’ initiatives and build a transparent business environment in the twonations, towards signing a bilateral free trade agreement. US Ambassador to Vietnam Daniel J. Kritenbrink described Vietnamas one of the fastest-growing export markets and a comprehensive strategicpartner of the US. He also wished that bilateral ties will further flourish in thefields of trade, aviation and energy./.
The United States (US) government through the US Agency for International Development (USAID) donated 100 brand-new ventilators to Vietnam during a hand-over ceremony in Hanoi on September 30 to support its ongoing response to COVID-19.
The Association of Vietnamese Professionals and Students in the US is organising the “Vong Tay Nuoc My 8” (the US’s arm 8) event from October 9 to 11 to celebrate the 25th anniversary of Vietnam-US diplomatic relations.
The US Embassy in Vietnam held a ceremony in Hanoi on October 9 to celebrate the 244th anniversary of the US’s independence and the 25th founding anniversary of the two countries’ diplomatic relations.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Outcomes of ABAC III will shape ABAC’s final policy recommendations to be submitted to the ABAC-APEC leaders’ dialogue, scheduled to take place in the Republic of Korea this November.
This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
According to NordCham Vietnam Chairman Thue Quist Thomasen, the Vietnamese Government’s commitment to achieving net-zero emissions by 2050 is both a challenge and an opportunity for businesses to contribute to green and sustainable growth.
The analysis from an investment perspective shows that the economy’s growth has been heavily capital‑driven, yet efficiency remains low as reflected by Vietnam’s Incremental Capital-Output Ratio (ICOR) being significantly higher than global and regional averages. This underscores the imperative to enhance capital‑use efficiency.
Deputy PM Tran Hong Ha urged countries to work together to remove supply chain bottlenecks, expand market access, strengthen cooperation in smart customs procedures, mutually recognise technical standards, and eliminate unnecessary protectionist barriers to boost trade and investment.
The event has gathered over 400 exhibitors from 16 countries and territories, with more than 980 booths showcasing a wide range of products and technologies in automotive components, electronics, repair and maintenance, bodywork, accessories, and customisation.
The latest order follows Vietjet’s commitment for 20 additional A330neo aircraft last month, bringing the airline’s total widebody aircraft on order to 40.
Minister of Finance Nguyen Van Thang acknowledged the target represents an important milestone for socio-economic development as well as a demonstration of the country’s aspiration for robust economic growth.
The price of E5 RON92 petrol is now capped at 20,631 VND (0.79 USD) per litre, up 1,169 VND from the previous adjustment, while RON95-III costs no more than 21,244 VND per litre, up 1,277 VND.
While German consumers are familiar with Vietnamese products such as coffee, seafood, tea, and spices, many other quality items remain relatively unknown in the market. The Selgros event not only helped introduce Bac Giang lychee to German consumers but also provided them with the opportunity to experience other Vietnamese agricultural products.
The article by Cuba’s Inter Press Service detailed how Vietnamese private enterprise Agri VMA leased 1,000 ha of land in Los Palacios district, Cuba’s westernmost province of Pinar del Río, for rice cultivation over a three-year period. The project’s first harvest in 2025 recorded an impressive yield of 7.2 tonnes per hectare, far exceeding the local average of 1.6 tonnes.
VCCI President Vu Tien Loc at the event (Photo: VNA) 
