Vietnam, US firms ink deals on sidelines of ASEAN-US Summit
Corporations of Vietnam and the United States on February 15 (US time) inked several deals in the presence of Prime Minister Nguyen Tan Dung on the sidelines of the ongoing special ASEAN-US Summit.
Processing tra fish for exports (Illustrative image. Source: VNA)
California (VNA) ಞ– Corporations of Vietnam and the United States on February 15 (US time) inked several deals in the presence of Prime Minister Nguyen Tan Dung on the sidelines of the ongoing special ASEAN-US Summit in Sunnylands, California.
The Bank for Investment and Development of Vietnam (BIDV) signed an agreement with BIDV Metlife Life Insurance Limited Liability Company, a joint venture between US-based Metlife and BIDV, on expanding life insurance business in Vietnam.
Accordingly, the two sides will exchange information and experience as well as introduce opportunities in finance and life insurance to each other. Additionally, BIDV Metlife will help BIDV develop Bancassurance, an insurance product sold at banks, and several personal financial services.
Also during the signing ceremony, Vietnam’s Bien Dong Seafood, Co. Ltd and Thai Group signed cooperation deals with US’s H2Origins Seafood Inc and Hyatt Hotel Corporation.
Bien Dong Seafood and H2Origins Seafood will work together to raise seafood sales in the US market to more than 300 million USD over the next three years. They also targets to boost their market share to over 40 percent by sharing market intelligence and developing new high-quality seafood products for the US.
Meanwhile, Thai Group and Chicago-based Hyatt agreed to build a 165-million-USD Park Hayatt hotel in Hanoi. The 300-room hotel is expected to be operational in 2018.-VNA
The State Bank of Vietnam (SBV) is willing to create a more transparent and attractive business environment in order to persuade US enterprises to operate in Vietnam, SBV Vice Governor Nguyen Thi Hong has said.
Since the normalisation of relations 20 years ago, the US has built its share in Vietnamese market towards becoming the country’s top investor, considering the huge potential of the impending Trans-Pacific Partnership agreement and the birth of the ASEAN Economic Community later this year.
The increasing number of giant US companies pouring money into Vietnam recently is likely to make the country the leading investor in Vietnam in the near future, reported Dau tu online.
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.
Processing tra fish for exports (Illustrative image. Source: VNA)
