On the morning of November 12, the Vietnam Federation of Commerce and Industry (VCCI), the American Chamber of Commerce in Hanoi (AmCham) and the American Chamber of Commerce in Washington jointly organized the 8th Vietnam - US Business Summit to strengthen bilateral trade and economic relations.
The United States is currently Vietnam's second largest trading partner, its largest export market, and one of the main drivers of investment in Vietnam. Vietnam has risen to become one of the top ten trading partners of the United States, and economic relations between the two countries are expected to continue to grow strongly in the coming time.
Vietnam is an important link in the US global supply chain, and US businesses and investors have contributed significantly to Vietnam's economic growth and structural transformation.
At the conference, Assistant Secretary of State Michael DeSombre said that Vietnam has great potential to attract foreign direct investment, and US businesses are ready to maintain their leading role as key investors and partners of Vietnamese businesses.
Mr. Michael DeSombre also affirmed Vietnam's strategic role in ensuring global economic security and sustainable supply chains through diversification and cooperation.
Delegates shared about issues of concern to the business communities of the two countries.
US Ambassador to Vietnam Marc Knapper highly appreciated the contributions of the private sector to bilateral relations, and said Vietnamese and US businesses have played a central role in the remarkable development over the past three decades.
Mr. Marc Knapper affirmed that the United States continues to commit to supporting Vietnam's development goals, including cooperation in the fields of innovation, clean energy, digital transformation and high-quality human resource development.
At the Conference, Deputy Prime Minister Bui Thanh Son said that 2025 marks the 30th anniversary of the establishment of Vietnam-US diplomatic relations, a journey from "confrontation to partnership, from suspicion to trust, from a painful past to a present of comprehensive cooperation and a future of mutual prosperity".
The Deputy Prime Minister affirmed that the Vietnam-US relationship is not a "give-take" or "win-lose" relationship, but a relationship of co-creation, co-development, and co-win.
Deputy Prime Minister Bui Thanh Son also called on the US business community to continue expanding investment and accompanying Vietnam in the fields of semiconductors, clean energy, innovation, digital transformation and training of high-quality human resources, and proposed that the US Government remove export control restrictions under Lists D1 and D3, soon sign a reciprocal trade agreement and recognize Vietnam as a market economy.
“In today's volatile world, only trust creates cooperation, only cooperation leads to prosperity and only prosperity creates a sustainable future,” the Deputy Prime Minister said.
Regarding the issues of concern to the business communities of the two countries, Mr. Adam Sitkoff - Executive Director of AmCham - said that AmCham will continue to cooperate with both governments on the important challenges and opportunities that the business communities are most concerned about.
“Our members are invested in Vietnam's long-term success, and the business communities of both countries have a responsibility to promote two-way trade and investment, while working with the government to remove remaining obstacles,” said Mr. Adam Sitkoff.
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