Advantages for the U.S. companies to expand investment in Vietnam

As part of his working trip to the United States (U.S.) to attend the 80th United Nations General Assembly High-Level Debate in New York, on September 23 (local time), President Luong Cuong attended and delivered remarks at a roundtable with major U.S. corporations.

The event was co-organized by Vietnam’s Ministry of Industry and Trade, the Embassy of Vietnam in the United States, the U.S. - ASEAN Business Council (USABC), the U.S. Chamber of Commerce (USCC), and the Business Council for International Understanding (BCIU).

This was one of the important bilateral diplomatic activities, underscoring Vietnam’s determination to promote economic, trade, and investment cooperation with the U.S. - Vietnam’s Comprehensive Strategic Partner.

Deputy Prime Minister Bui Thanh Son, Minister of Industry and Trade Nguyen Hong Dien, along with leaders of relevant ministries and agencies, accompanied President Luong Cuong at this event.

The roundtable brought together senior executives of many leading U.S. corporations in technology, energy, logistics, healthcare, finance and consumer sectors, including Amazon, Apple, Meta, Coca-Cola, Warburg Pincus, Amway, Atlas Air, Excelerate Energy, EXCEL Services Corporation, and Vantive.

On the Vietnamese side, the event was attended by prominent corporations such as the Vietnam National Oil and Gas Group, Vietjet, HDBank, and Kinh Bắc City Development Holding Corporation, helping to strengthen connections between the two countries’ business communities.

Speaking at the roundtable, President Luong Cuong highlighted the significance, role, and importance of the event.

Held at a time when Vietnam and the U.S. are marking the 30th anniversary of diplomatic relations (1995–2025) and two years since the establishment of the Comprehensive Strategic Partnership (2023-2025), the President affirmed that economic, trade, and investment cooperation has always been a key pillar and driving force for the substantive, sustainable and deeper development of bilateral ties.

To help U.S. companies and partners better understand the business and investment environment as well as Vietnam’s advantages, President Luong Cuong reviewed the country’s economic development journey.

According to the President, nearly 40 years after the "Doi Moi" reform, Vietnam has transformed from an inefficient economy with per capita income of less than USD 100 in 1986 into one of the world’s top 32 economies, with trade turnover ranking among the top 20 globally.

Vietnam has signed 17 new-generation free trade agreements, creating a close-knit network with more than 60 major economies worldwide.

Notably, amid global economic volatility, Vietnam has maintained macroeconomic stability, achieved a growth rate twice that of the average developing country, and kept inflation under control. Its international reputation and standing are steadily rising.

Given these advantages, President Luong Cuong called on the American business community: “Seize the opportunities, expand your presence, and make larger and deeper investments in Vietnam. Together with Vietnam, create a new era of cooperation that is prosperous and sustainable. Vietnam warmly invites leading U.S. corporations to establish Asia-Pacific headquarters and Research and Development (R&D) centers in Vietnam.”

Affirming that the 30-year history of Vietnam-U.S. relations is living proof of the journey of reconciliation and trust-building, serving as a model in international relations, the President stressed that bilateral ties are a powerful engine for Vietnam’s sustainable development.

“Economic, trade and investment cooperation has always been a key pillar of bilateral relations. In 2024, two-way trade surpassed USD 138 billion. The presence and effective operations of leading U.S. corporations such as Apple, Intel, and Nike in Vietnam testify to the trust and potential for cooperation between the two sides,” President Luong Cuong noted.

He acknowledged and highly valued the contributions of foreign investors, including the U.S. business community, in achieving Vietnam’s significant economic accomplishments today.

Sharing Vietnam’s strategic orientations and priorities for the future, the President emphasized that by 2045, Vietnam aims to build a prosperous, happy nation and become a developed, high-income country.

Vietnam also envisions itself as a strategic link in global supply chains, a manufacturing hub, and an Asia-Pacific center for innovation, research, and development. “Vietnam is not only the world’s ‘factory’ but also its ‘intellectual hub,’” the President affirmed.

To realize this vision, Vietnam has undertaken major institutional reforms, considering this the core driving force for development. The country has streamlined its two-tier governance nationwide, ensuring efficiency and effectiveness; revised key laws such as the Law on Investment, the Law on Enterprises, and the Land Law to create a transparent and open business environment; rolled out the National Digital Transformation Strategy; advanced administrative reform; built an e-government; and promoted innovation, green growth, and renewable energy.

The President reiterated Vietnam’s readiness to create all favorable conditions for U.S. corporations to expand their footprint, establish regional headquarters and R&D centers in Vietnam, while also calling on U.S. businesses to act as a bridge with the U.S. Government to promote a fair trade process that balances mutual benefits.

Welcoming U.S. investment in strategic sectors 

Building on this strategic orientation, Minister of Industry and Trade Nguyen Hong Dien affirmed at the roundtable that the United States has always been identified by Vietnam as one of its top economic and trade partners, not only for trade volume but also for its strategic role in global supply chain stability.

Minister Dien said the bilateral economic relationship is not only measured by trade figures but also reflects mutual trust, complementarity, and long-term strategic value.

Vietnam has now become the third-largest economy in ASEAN, one of the world’s top 20 trading economies, and one of the 15 most attractive global destinations for foreign direct investment (FDI). “These figures reflect Vietnam’s strong appeal to the international community, including U.S. companies,” Minister Dien observed.

He added that Vietnam is accelerating institutional reforms as a central driver of sustainable development, and welcomes U.S. investment in strategic areas such as digital technology, renewable energy, infrastructure, finance, and healthcare.

On reciprocal taxation issues, the Minister expressed his hope that the U.S. business community would continue to voice strong support to the U.S. Government, facilitating trade negotiations that ensure fairness and balance for both sides. He emphasized that U.S. companies’ support is essential to secure long-term agreements and build a solid foundation for bilateral economic cooperation.

Minister Dien reaffirmed the Vietnamese Government’s commitment to a transparent, stable and safe legal environment, standing side by side with businesses under the principle that “your success is also our success.”

He expressed confidence that a stronger U.S. corporate presence in Vietnam will open a new era of effective and sustainable cooperation under the Comprehensive Strategic Partnership framework between the two countries.

Vietnam - a global strategic destination for U.S. corporations At the roundtable, U.S. corporations announced ongoing investment and cooperation activities in Vietnam, pointed out significant potential and opportunities, and shared experience and recommendations for contributing more to Vietnam’s development.

The corporations expressed admiration for Vietnam’s economic and social progress, acknowledged the country’s forward-looking development strategies, and voiced confidence that Vietnam will become an attractive destination for global investors and achieve further success in the future.

Amazon representatives expressed the company’s desire to expand cooperation in e-commerce, satellite technology, and cloud computing.

Coca-Cola reaffirmed its long-term commitment to Vietnam, citing the opening of its new plant in Tay Ninh as proof of an investment strategy tied to sustainable development.

Warburg Pincus, one of the largest international investors in Vietnam, highlighted its confidence in the country’s stable and transparent business environment, and stressed plans to continue expanding its footprint.

Energy companies such as Excelerate Energy and EXCEL Services Corporation confirmed their interest in partnering with Vietnam on energy security strategies, clean energy development, and nuclear power projects.

Other U.S. businesses expressed interest in scaling up manufacturing, boosting exports, and establishing research and development centers in Vietnam, viewing this as a promising path to align mutual benefits.

Sharing many common priorities with Vietnam, from promoting digitalization and boosting exports to ensuring equitable development, leading U.S. corporations unanimously agreed that Vietnam holds strong potential to become a leading global destination for development across multiple sectors, reaffirming their commitment to expanding cooperation and investment in the country.

Through candid and constructive exchanges, the roundtable with major U.S. companies demonstrated the shared determination of leaders and business communities from both nations to build a new phase of partnership, aimed at prosperity and sustainable development for Vietnam, the U.S., and the international community.

This event, along with Vietnam’s activities at the 80th UN General Assembly, reaffirmed Vietnam’s increasingly proactive and positive role in both bilateral relations and global affairs.