Many Vietnamese businesses reached cooperation agreements and investment deals worth billions of dollars with major American corporations during President Joe Biden's visit.
The state visit of US President Joe Biden to Vietnam on September 10-11 is an opportunity for the two countries to promote relations in the fields of investment, innovation, chip technology, semiconductors , and green transition.
On this occasion, many business deals and investment cooperation initiatives were signed between Vietnamese and American enterprises, aiming to realize and promote the comprehensive strategic partnership. For example, a memorandum of understanding worth $10 billion in the aviation services sector was signed between Vietnam Airlines and Boeing to purchase 50 737 Max aircraft. These aircraft are expected to be delivered between 2027 and 2030.
Representatives from Vietnam Airlines and Boeing signed an agreement to purchase 50 Boeing 737 Max aircraft worth $10 billion, during US President Joe Biden's state visit on September 11. Photo: VNA
Vietjet Airlines also signed a $0.55 billion aircraft financing agreement with Carlyle, a major American financial group. Under the agreement, Carlyle Aviation Partners (part of the Carlyle Group) will provide financing for the 737 Max aircraft, part of Vietjet's order of 200 aircraft from Boeing.
Carlyle Aviation Partners, a global aircraft finance and leasing company, was founded in 2002. The company manages 396 aircraft in 59 countries worldwide , with total assets reaching $385 billion.
In addition, Vietjet and Boeing have agreed to deliver the first aircraft to the airline under the order for 200 B737 Max aircraft signed in 2016 during President Barack Obama's visit to Vietnam. This order, worth over $25 billion, will be implemented over the next five years, with the first 12 aircraft delivered by 2024.
In the finance and banking sector, on September 10th, VPBank announced that it had received a $300 million bilateral loan with a 7-year term from DFC Group, aimed at strengthening its capital base and promoting sustainable financial operations. A similar $100 million loan was also granted by DFC to TPBank.
These loans will help the two banks continue their sustainable financial activities, including supporting SMEs and small and medium-sized enterprises owned by women, and shifting their investment portfolios towards climate change mitigation activities and low-carbon emission technologies.
Not only are Vietnamese businesses receiving capital from the US, but they are also increasing their investments in this market . On September 11th, FPT Chairman Truong Gia Binh announced plans to invest $100 million and employ nearly 1,000 people in the US by the end of this year. He also proposed that the US government foster the semiconductor ecosystem in Vietnam. With these continuous investments, FPT expects to create over 3,000 jobs by 2028 and achieve $1 billion in revenue from the US market by 2030.
Along with the investment plan, the corporation also announced a comprehensive strategic partnership with LandingAI – a Silicon Valley-based company specializing in machine vision and artificial intelligence – to accelerate the integration of AI into training programs within the FPT Education system.
Previously, in the Joint Statement on upgrading Vietnam-US relations to a Comprehensive Strategic Partnership, General Secretary Nguyen Phu Trong and President Joe Biden agreed to create favorable conditions and further open markets for each country's goods and services, and to jointly address issues such as market access barriers through the Framework Agreement on Trade and Investment.
The two leaders supported further strengthening of a non-discriminatory, rules-based multilateral trading system, in which the World Trade Organization (WTO) plays a core role.
The United States is committed to increasing its support for Vietnam in manufacturing, developing high-quality physical and digital infrastructure, achieving a just energy transition, promoting sustainable and smart agriculture, and supporting Vietnam's deep and sustainable participation in regional and global supply chains. It is also committed to enhancing its support for Vietnam in training and developing a high-tech workforce.
The two countries announced the launch of human resource development initiatives in the semiconductor sector, in which the US government will provide an initial seed grant of $2 million, along with future support from the Vietnamese government and the private sector.
Vietnam-US relations were normalized in July 1995 and upgraded to a Comprehensive Partnership in July 2013. Vietnam-US trade reached nearly $124 billion last year, a 275-fold increase in 27 years.
The United States is Vietnam's largest export market and second-largest trading partner. Conversely, Vietnam is the seventh-largest trading partner of the United States globally, and the largest in ASEAN.
Vnexpress.net
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