This is the assessment of Dr. Mac Quoc Anh - Vice President of the Hanoi Association of Small and Medium Enterprises on the phone call between General Secretary To Lam and President of the United States Donald Trump on the evening of July 2, 2025.
- From the perspective of the business community, how meaningful is the phone call between General Secretary To Lam and US President Donald Trump that took place last night in the current tariff context?
General Secretary To Lam's phone call with US President Donald Trump is a very positive signal, opening up new prospects for Vietnam - US relations. At the same time, it strengthens the confidence of the business community in Vietnam's proactive, courageous and wise foreign policy.
Firstly, the phone call affirmed Vietnam's foreign policy of independence, self-reliance, multilateralization and diversification of international relations. This demonstrates Vietnam's determination to further deepen the comprehensive strategic partnership with the United States.
Second, the content of the exchange shows that Vietnam and the US continue to maintain open, frank and substantial dialogue channels. This is also the basis for minimizing misunderstandings and limiting risks of trade and investment conflicts in the coming time.
Third, I especially appreciate the fact that the phone call mentioned very specific issues, not just diplomacy. The recommendations of General Secretary To Lam on recognizing Vietnam as a market economy and removing export restrictions on high-tech products show that Vietnam is pursuing a proactive and extensive integration policy and protecting the legitimate interests of businesses and workers.
- If the US recognizes Vietnam as a market economy, what opportunities will it open up for Vietnam, sir?
The US's official recognition of Vietnam as a market economy will certainly bring many important opportunities, both immediate and long-term.
First of all, that helps Vietnam avoid unfavorable trade defense measures, especially taxes against dumping and subsidies.
Second, in the long term, being recognized as a market economy is a step to affirm Vietnam's position in the global economy. Help Vietnam attract more high-quality investment capital, especially in areas such as high-tech industry, manufacturing and processing, financial services and green economic sectors.
Third, when Vietnam is recognized as a market economy, along with the US removing restrictions on high-tech exports, the opportunity to participate more deeply in the global value chain will expand. This is also a premise to help Vietnam improve labor productivity, transform the growth model to rely on knowledge and innovation, and gradually reduce dependence on low-cost labor-intensive industries.
- After the phone call between General Secretary To Lam and US President Donald Trump, what expectations does the business community have, sir?
Vietnamese enterprises expect the US to soon take concrete steps, for example issuing an official document recognizing Vietnam's market economy, or at least adjusting current regulations to reduce barriers and create a fair trade environment.
Second, the business community hopes that the US's high-tech export restrictions will soon be resolved. Many Vietnamese enterprises are in need of importing advanced equipment, components, and software to upgrade production capacity, but are still limited by export control regulations. When these barriers are removed, it will create a new flow of technology, contributing to accelerating the digital transformation process, developing the semiconductor industry, clean technology, and renewable energy in Vietnam.
Third, businesses also expect that through this phone call, the political-diplomatic relations between Vietnam and the US will become increasingly stable and strong. That brings a favorable business environment, minimizing policy risks, especially in the context of the world economy still having many fluctuations as at present.
Finally, the business community hopes that the Government will have more official, complete and quick information channels to update bilateral relations developments to promptly adjust business strategies.
Thank you!
