On the morning of November 12, the Vietnam Chamber of Commerce and Industry (VCCI), in coordination with the American Chamber of Commerce in Hanoi (AmCham) and the US Chamber of Commerce (Washington D.C.), co-hosted the 8th Vietnam-US Business Summit. The event aimed to bolster bilateral trade and economic relations.

The US currently stands as Vietnam's second-largest trading partner, its largest export market, and a primary driver of foreign investment. Conversely, Vietnam has risen to become one of the top 10 trading partners for the US. Economic ties between the two nations are projected to witness robust growth in the near future.

Vietnam serves as a critical link in the US global supply chain. Meanwhile, US enterprises and investors have made significant contributions to Vietnam's economic restructuring and growth.

Speaking at the summit, Assistant Secretary Michael DeSombre noted that Vietnam holds immense potential for attracting Foreign Direct Investment (FDI). He emphasized that US businesses are poised to maintain their leading role as key investors and partners for Vietnamese enterprises.

DeSombre also affirmed Vietnam’s strategic role in ensuring global economic security and sustainable supply chains through diversification and cooperation.

US Ambassador to Vietnam Marc Knapper hailed the private sector's contribution to bilateral ties, emphasizing that businesses from both nations have played a pivotal role in the remarkable progress witnessed over the past three decades.

Ambassador Knapper reaffirmed the US commitment to supporting Vietnam’s development goals, specifically highlighting cooperation in innovation, clean energy, digital transformation, and high-quality workforce development.

Addressing the summit, Deputy PM Bui Thanh Son noted that 2025 marks the 30th anniversary of diplomatic relations between Vietnam and the US. He described this milestone as a journey transforming “from confrontation to partnership, from suspicion to trust, and from a painful past to a present of comprehensive cooperation and a future of shared prosperity.”

The Deputy PM further affirmed that Vietnam-US relations are not a transactional “give-and-take” or “zero-sum game,” but rather a partnership defined by “co-creation, co-development, and win-win cooperation.”

Deputy PM Bui Thanh Son urged the US business community to expand their footprint and partner with Vietnam in key sectors, including semiconductors, clean energy, innovation, digital transformation, and high-quality workforce development.

Simultaneously, he requested the US Government to lift export controls under Country Groups D1 and D3, expedite the signing of a reciprocal trade agreement, and officially recognize Vietnam’s Market Economy status. “In today’s volatile world, only trust breeds cooperation, only cooperation leads to prosperity, and only prosperity ensures a sustainable future,” the Deputy PM remarked.

Addressing the concerns of the business community, Adam Sitkoff, Executive Director of AmCham Hanoi, stated that the chamber would continue to engage with both governments to address critical challenges and seize opportunities of top priority to businesses. “Our members are invested in Vietnam’s long-term success. The business communities of both nations share a responsibility to drive bilateral trade and investment while working with governments to dismantle remaining barriers,” Sitkoff asserted.