On the afternoon of March 19, in Hanoi, Party Central Committee member and Vice Chairman of the National Assembly Vu Hong Thanh received a delegation of senior businesses from the US-ASEAN Business Council (USABC) led by President and General Director of USABC Ted Osius, former US Ambassador to Vietnam.
This is an activity within the framework of the annual activities of the US-ASEAN Business Council, working with agencies of the Government and the National Assembly of Vietnam to learn and update policies related to the business environment, economic, trade and industrial development priorities of Vietnam in 2025, and at the same time propose measures to take advantage of the strengths and resources of the US business community.
Speaking here, Vice Chairman of the National Assembly Vu Hong Thanh hoped that the visit would contribute to promoting the Vietnam - US Comprehensive Strategic Partnership, thereby bringing practical benefits to the people and business communities of the two countries.
According to the Vice Chairman of the National Assembly, the Vietnam - US relationship continues to develop positively. Trade turnover between the two countries for the third consecutive year reached over 100 billion USD (in 2022, it reached a record of 123 billion USD, in 2023 it reached 110 billion USD, in 2024 it reached 149.7 billion USD).
With that result, the US became Vietnam's largest export market. Vietnam has also risen to become the 8th largest trading partner of the US. In terms of investment, the US is in the top 10 countries with the largest FDI investments in Vietnamese enterprises.
The Vice Chairman of the National Assembly emphasized that the upgrading of relations between the two countries to a Comprehensive Strategic Partnership in September 2023 opens up many new cooperation opportunities between the two countries. In recent times, all areas of cooperation have had significant growth, especially in the economic - trade sector.
Vietnam's exports to the US have grown well, especially in some sectors such as textiles, electronics, and agricultural products. The US is gradually becoming a source of machinery, equipment, science and technology, and energy products for Vietnam.
Many large Vietnamese enterprises consider the US market an attractive and important investment destination.
The Vice Chairman of the National Assembly affirmed that Vietnam attaches great importance to the comprehensive strategic partnership with the US, which plays a very important role in socio-economic development, investment - trade, science - technology, innovation and digital transformation.
Vietnam's consistent policy is to maintain political - economic and social stability. Build an independent and self-reliant economy, associated with proactive and active international integration in a deep, substantial and effective manner.
Vietnam's current and upcoming focuses are to create strategic breakthroughs in the fields of institutions; infrastructure; human resources; breakthroughs in science, technology development, innovation, national digital transformation.
The Vice Chairman of the National Assembly also said that breakthroughs in the development of science, technology, innovation, and digital transformation are areas in which US businesses can be very strong; affirmed that he hopes that in the coming time, there will be many opportunities to cooperate with US businesses in general, and US-ASEAN Business Council member businesses operating in this field.
Vice Chairman of the National Assembly Vu Hong Thanh also hopes that in the coming time, many Vietnamese enterprises will invest in the US.
