Americas among Vietnam's largest trade partners despite of COVID-19
The Americas remained some of Vietnam’s largest trade partners despite the adverse effect on commerce caused by the COVID-19 pandemic, heard participants at a conference organised by the Ministry of Industry and Trade (MoIT), aimed at connecting Vietnamese firms with trade partners in American countries in Hanoi on September 25.
Deputy Minister of Trade and Industry Do Thang Hai speaks at a conference to connect Vietnamese firms with trade partners in American countries in Hanoi. (Photo baodauthau.vn)
Hanoi (VNS/VNA) - The Americas remained some of Vietnam’s largesttrade partners despite the adverse effect on commerce caused by the COVID-19pandemic, heard participants at a conference organised by the Ministry ofIndustry and Trade (MoIT), aimed at connecting Vietnamese firms with tradepartners in American countries in Hanoi on September 25.
According to the ministry, two-way trade between Vietnam and American countriesduring the first eight months of the year increased 11.8 percent from the sameperiod last year to 69.3 billion USD, with the Southeast Asian country’sexports increasing 15.9 percent.
Trade between Vietnam and the Americas has grown 350 percent in the lastdecade, from a modest 28 billion USD in 2011 to 96.8 billion USD in 2019. Lastyear, Vietnam also spent 23.2 billion USD on the import of goods and servicesfrom the continent.
A number of free trade agreements that came into effect in recent times havehelped to fuel rapid trade growth such as the bilateral trade agreementsbetween Vietnam and the US, Chile and Cuba, and the Comprehensive andProgressive Agreement for Trans-Pacific Partnership (CPTPP) which includesCanada, Peru and Mexico.
Vietnam had seen some of the fastest-growing trade ties with the continent inrecent years, said Deputy Minister of Industry and Trade Do Thang Hai.
By the end of August 2020, 28 American countries held stakes in 1.530 projectsacross Vietnam with a total investment value of 22.8 billion USD. Vietnam’ssuccessful campaign to contain the COVID-19 pandemic has made it an attractivedestination for American investors, especially against the backdrop ofincreased trade tensions between the US and China.
The conference’s objective was to provide domestic firms with the mostup-to-date information regarding changes in economic policies and commerce inAmerican markets. The MoIT urged Vietnamese firms to conduct additional studieson said markets and their demand for Vietnamese products to identify tradeopportunities as well as potential issues and challenges./.
German tape manufacturer Tesa plans to build a 55 million EUR (65 million USD) factory in Northern Vietnam in an effort to expand its production as from 2023, according to Germany’s Handelsblatt newspaper.
US Secretary of State Mike Pompeo on September 11 issued a press statement affirming the enduring commitment to the Association of Southeast Asian Nations (ASEAN).
Vietnam has been ranked second after the US on a list of the world's most active, dynamic and potential markets for merger and acquisition (M&A) deals this year.
The new Government decree also simplifies loan procedures while expanding credit incentives to include organic and circular agriculture, allowing them to access preferential terms similar to those of high-tech and value-chain based agricultural production.
Developed with state-of-the-art infrastructure, the Da Nang FTZ is designed to become a leading regional economic centre and a strategic growth pole in Vietnam’s new development landscape.
The Binh Duong Association of Supporting Industries (BASI) is expected to promote the usage of domestically manufactured components while supporting businesses in accessing international markets, strengthening linkages, and promoting deeper integration into global supply chains.
PwC Vietnam forecasts a vibrant M&A market in Vietnam’s healthcare sector in 2025, driven by rising demand for high-quality medical services and a growing middle class. Pharmaceutical companies, private hospitals, and specialised medical facilities, particularly in ophthalmology and oncology, are predicted to be key targets for M&A.
The central province of Quang Nam is set to become a hub for the medicinal plant industry, with Ngoc Linh ginseng designated as the core crop, under the Prime Minister's decision issued earlier this year.
The North-South Expressway project is scheduled for completion by 2030, aiming to establish the groundwork for Vietnam’s modern railway industry and stimulate regional economic development, positioning the country for a significant economic leap in the era of national rise.
The probe, initiated on June 11 following a petition by the US Coalition for Fair Trade in Hardwood Plywood, targets products classified under HS Code 4412 and 9403 imported from China, Indonesia and Vietnam.
Sun PhuQuoc Airways was born as a perfect piece in Sun Group’s strategic vision to build a premium ecosystem of tourism, entertainment, real estate, and aviation. With a pioneering ambition, Sun PhuQuoc Airways is not just an airline, but a symbol of connection – bringing the world to Phu Quoc and taking Phu Quoc to the world.
A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
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.
Deputy Minister of Trade and Industry Do Thang Hai speaks at a conference to connect Vietnamese firms with trade partners in American countries in Hanoi. (Photo baodauthau.vn) 
