Vietnam, US share supplementary strengths for development
As members of the Asia-Pacific Economic Cooperation (APEC) Forum, Vietnam and the US have complementary strengths for mutual development, bringing benefits to the two economies.
Hanoi (VNA) – As members of the Asia-Pacific Economic Cooperation (APEC) Forum,Vietnam and the US have complementary strengths for mutual development,bringing benefits to the two economies.
Since thenormalisation of ties on July 12, 1995, Vietnam and the US have becomecomprehensive partners, ranging from politics, economy, diplomacy, education,science-technology to national defence-security. Economic cooperation is a foundationand increasingly important driving force for bilateral ties.
Two-waytrade, which was a mere 450 million USD in 1995, surged to 21.8 billion USD in2001 when a bilateral trade agreement took effect on December 10.
Since 2005,the US has become Vietnam’s largest importer with two-way trade growing 20percent in recent years, surpassing 45 billion USD in 2015 and nearing 47.2billion USD in 2016, with Vietnam enjoying a trade surplus. The AmericanChamber of Commerce in Vietnam estimated the total value of bilateral trade at80 billion USD by 2020.
Ininvestment, the US is among the top 10 countries and territories investing inVietnam with total registered capital of more than 11 billion USD, not tomention its capital flows via third countries, mostly in hospitality andrestaurant services, processing and manufacturing industries, among others. Anumber of US businesses have been operating for a long time in Vietnam such asIntel, Microsoft, GE, Chevron and Exxon Mobil.
About officialdevelopment assistance, the US has provided more than 100 million USD toVietnam each year.
Accordingto experts, Vietnam-US economic ties are driven by Vietnamese political and economicstability, abundant workforce and natural resources, sound renovation andintegration policies and incentives for foreign investors.
Vietnam hasalso made considerable progress in information and law transparency, foreigninvestment facilitation and creating a pro-business environment.
Overall,Vietnam-US ties will see new positive prospects and further develop for thecommon interests of the two peoples, as well as for peace, stability anddevelopment.-VNA
Good settlement of post-war matters like AO/dioxin victims and leftover bombs and mines in Vietnam will make contributions to consolidating and promoting friendship between Vietnam and the US.
Deputy Minister of National Defence Sen. Lieut. Gen. Nguyen Chi Vinh and US Ambassador to Vietnam Ted Osius discussed measures to further promote defence cooperation between the two countries during their meeting in Hanoi on March 17.
Vietnam and the US have witnessed remarkable strides and historical milestones in their relations over the past 20 years, especially in economics and education-training.
Vietnam and the US should sustain and strengthen economic and trade links, Deputy Prime Minister and Foreign Minister Pham Binh Minh said, describing these links as key to bilateral relations.
As part of his official visit to the US, Deputy Prime Minister and Foreign Minister Pham Binh Minh held separate meetings on April 21 with US Acting Trade Representative Stephen Vaughn and a group of assistants to senators of the Democratic and Republican Parties.
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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.
Illustrative image (Source: VNA) 
