Strengthening connections with US industrial and energy corporations

On September 13th, the Vietnam-US Trade Forum, themed "Strengthening Connections with US Industrial and Energy Corporations," took place in Ho Chi Minh City. This was a key event within the framework of the 2023 "Connecting International Supply Chains" series, organized by the Ministry of Industry and Trade in collaboration with the People's Committee of Ho Chi Minh City.

Deputy Minister of Industry and Trade Do Thang Hai delivers the opening remarks at the Vietnam-US Trade Forum. (Photo: Industry and Trade Newspaper)

The event provided a crucial opportunity for managers, experts, and business leaders from both countries to frankly discuss potential areas and opportunities for Vietnamese businesses to participate in the supply chains of raw materials and components for the aviation and energy industries. This contributed to creating momentum for the business communities of both countries to develop strategies for accessing and expanding import and export markets, promoting trade and investment between the two countries in a balanced and sustainable manner.

Speaking at the Forum, Deputy Minister of Industry and Trade Do Thang Hai shared that in recent times, the difficult economic situation and high inflation rate in the United States have significantly reduced the purchasing power of consumer goods, and this is one of the reasons why Vietnam's exports to the United States decreased in the first months of the year. However, this decline is considered temporary and not the main trend in the future. The recent resurgence in Vietnam's exports shows promising signs for 2023. Traditional and strong export items such as textiles, wood products, footwear, and electronics are expected to continue recovering with positive export growth rates.

Deputy Minister of Industry and Trade Do Thang Hai assessed that President Joe Biden's historic visit and the upgrading of relations to a comprehensive strategic partnership will create unprecedented opportunities to promote new, breakthrough areas of cooperation, building internal strength so that Vietnam can truly be present in global value chains. This will focus on boosting the participation of Vietnamese businesses in the supply of raw materials and components for the energy, aviation, digital economy, semiconductor ecosystem, and artificial intelligence applications.

According to Deputy Minister of Industry and Trade Do Thang Hai, the positive achievements in economic and trade cooperation are largely due to the active contributions of the business communities of both countries to the development of Vietnam-US relations over the past nearly 30 years.

The forum provides an opportunity for managers, experts, and business leaders from both countries to share and frankly discuss potential areas and opportunities, as well as to offer solutions and guidance for Vietnamese businesses to participate in the supply chain of equipment, raw materials, and components for FDI enterprises in the US industrial and energy sectors.

Following the thematic panel discussions, there were direct networking activities between Vietnamese suppliers of auxiliary equipment and US industrial and energy corporations such as Boeing and AES.

Representing US businesses, Maxime Dourdan, Director of Supply Chain Development for Boeing in Southeast Asia, Japan, and Korea, stated that Boeing will focus on key areas in the coming period, including: deepening trade relations in the aviation sector with airlines in Vietnam; cooperating in specific areas such as helicopters and transport; and investing in the development of the supply chain for aviation parts and equipment in Vietnam. He highly appreciated the potential and important position of the Vietnamese market for Boeing's business strategy, as well as the opportunities and possibilities for cooperation with domestic businesses, which will help Boeing successfully implement its investment and business development plan in Vietnam.

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