Addressing the U.S. - Vietnam Business Summit 2025, held in Hanoi on November 12 under the theme “A new era of development for mutually beneficial commercial relations,” Son stressed that in a world full of uncertainties, only trust can foster cooperation, only cooperation can lead to prosperity, and it is through prosperity that a sustainable future can be built.
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Deputy Prime Minister Bui Thanh Son speaks at the U.S. - Vietnam Business Summit 2025. |
He expressed his confidence that with a 30-year foundation of cooperation and increasingly high political trust, along with the support of the business communities, Vietnam and the U.S. will continue to write a brighter new chapter in the comprehensive strategic partnership for peace, cooperation, and prosperity of both nations and the world.
Describing the current bilateral cooperation as a "win-win" relationship, the Deputy PM emphasized that this relationship is not about giving and receiving, or winning and losing, but rather a relationship of co-creation, mutual development, and shared success.
Both sides possess strengths that complement and support each other’s development. For the U.S., these strengths include technology, capital, and management experience. For Vietnam, they lie in its large market, a young and highly skilled workforce, and its strategically important geo-economic position in the region, he pointed out.
In the new era of extensive integration, connectivity, smart technologies, and innovation, the comprehensive strategic partnership between Vietnam and the U.S. has prioritized digital cooperation, science and technology, and innovation as key pillars. This forms the groundbreaking foundation for both countries to co-create a green and sustainable development future in the digital age.
At the summit, Son proposed five key directions for businesses from both countries to strengthen cooperation for the benefit of the two nations' people and reinforce the comprehensive strategic partnership.
Specifically, he advised the two business communities to enhance cooperation in semiconductors and high technology; clean energy and green growth; developing flexible, diverse, and sustainable supply chains, and promoting smart logistics connectivity to reduce transport costs; innovation and digital transformation; and education, training, and technology transfer.
He urged U.S. companies to help promote high-level visits to create breakthroughs in the bilateral relations and bring benefits to the business community; continue advocating for the U.S. government to recognize Vietnam as a full market economy; and lobby the U.S. government to lift remaining restrictions on the export of high-tech products to Vietnam (according to the D1 and D3 regulations of the U.S. Department of Commerce) to strengthen strategic trust and promote economic and trade cooperation, particularly in high-tech fields.
U.S. businesses should also further enhance their presence, make long-term investments, and expand production in Vietnam; and work together with the two governments to quickly finalize the remaining issues towards the signing of a fair and balanced reciprocal trade agreement.
For his part, U.S. Assistant Secretary of State for East Asian and Pacific Affairs Michael DeSombre emphasized that Vietnam has great potential in attracting foreign direct investment, and U.S. companies are ready to maintain their leading role as key investors and partners for Vietnamese businesses. He also affirmed Vietnam's strategic role in ensuring global economic security and sustainable supply chains through diversification and cooperation.
The U.S. - Vietnam Business Summit 2025 was jointly organized by the Vietnam Chamber of Commerce and Industry (VCCI), the U.S. Chamber of Commerce (AmCham) in Hanoi, and the U.S. Chamber of Commerce in Washington D.C.
Source: VNA