US ranks among Vietnam’s top trade partners: Minister
Minister of Industry and Trade Nguyen Hong Dien has hailed the US as one of the top trade partners and importers of Vietnam during a recent reception in Hanoi for US Trade Representative Katherine Tai.
Last year, two-way trade between Vietnam and the US surpassed 123 billion USD, up 11% year on year. (Photo: VNA)
Hanoi (VNA) – Minister of Industry and Trade Nguyen Hong 𓄧Dien has hailed the US as one of the toptrade partners and importers of Vietnam during a recent reception in Hanoi forUS Trade Representative Katherine Ta𝓰i.
Tai has been on her firstvisit to Vietnam and the first visit at the economic ministerial level of President Joe Biden’sadministration. The visit marks thestart of activities in celebration of the 10th founding anniversary of the Vietnam-US comprehensive partnership this year. Dien underlined thetwo countries’ potential of cooperation in climate change response, energytransition, digital transformation and green growth. Vietnamsupports efforts to deepen the bilateral relations, as well as multilateralcooperation mechanisms and initiatives led by the US that are beneficial toensuring global and regional peace, stability and development, including theIndo-Pacific Economic Framework for Prosperity (IPEF), he said. The minister suggested Tai continue upholding her role as an important bridge betweenthe two governments to strengthen the Vietnam-US comprehensive partnership. Healso proposed the US soon materialise its commitments to supporting Vietnam andcountries in delivering on international agreements on climate change response,including the Declaration on the Just Energy Transition Partnership. Vietnamis ready to partner with the US to successfully hold the APEC Year 2023, he said. Tai,for her part, said there will be more activities in the US-Vietnam relations thisyear. She vowed to work closely with Vietnam on e-commerce and spoke highly ofVietnam’s participation in regional economic connectivity over the past years.
TheUS will give priority to strengthening cooperation frameworks to buildefficient and sustainable economic and investment ecosystems, thereby creatinga new driving force for regional economic development, she said.
The major priority of the US Government is to promote sustainable, re✅silientand inclusive trade recovery and economic𒀰 growth on the basis of lessonslearned from the recent COVID-19 response, she said.
Tai also shared prioritiesand plans for the APEC Year 2023 hosted by the US and mentioned basic contentsof the IPEF. The host and guest discussedbilateral cooperation within the APEC framework, basic contents of the IPEF, sub-regionalcooperation and joint work in climate change response, energy transitionand digital transformation. They highlighted thesignificance of promoting free, open, fair trade in accordance with internationallaw as well as sustainable and inclusive growth in the region in which ASEANcountries play a central role. Last year, two-waytrade between Vietnam and the US surpassed 123 billion USD, up 11% year on year./.
More than 90% of Tra fish (Pangasius hypophthalmus) available in the US market comes from Vietnam, said Vietnamese Trade Counsellor in the US Do Ngoc Hung citing statistics from the US Department of Agriculture (USDA).
A ceremony was held in Le Thuy district of the central province of Quang Binh on January 12 to inaugurate the Son Thuy kindergarten and the medical station of Hoa Thuy commune, which were built at a cost of 700,000 USD in total provided by the US.
The festival marks a significant milestone in promoting the brand, value, and legacy of traditional fish sauce - a product deeply rooted in the island’s identity and history spanning over 200 years.
According to Mastercard data, Vietnam has recorded a remarkable 92% compound annual growth rate (CAGR) in contactless transaction volume from Q4 2022 to Q4 2024.
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.
Last year, two-way trade between Vietnam and the US surpassed 123 billion USD, up 11% year on year. (Photo: VNA) 
