Addressing the US-Viet Nam Business Summit 2025, held in Ha Noi 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.
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, Viet Nam and the US 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 emphasised 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 US, these strengths include technology, capital, and management experience. For Viet Nam, 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 Viet Nam and the US has prioritised 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 US 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 US government to recognise Viet Nam as a full market economy; and lobby the US government to lift remaining restrictions on the export of high-tech products to Viet Nam (according to the D1 and D3 regulations of the US Department of Commerce) to strengthen strategic trust and promote economic and trade cooperation, particularly in high-tech fields.
US businesses should also further enhance their presence, make long-term investments, and expand production in Viet Nam; and work together with the two governments to quickly finalise the remaining issues towards the signing of a fair and balanced reciprocal trade agreement.
For his part, US Assistant Secretary of State for East Asian and Pacific Affairs Michael DeSombre emphasised that Viet Nam has great potential in attracting foreign direct investment, and US companies are ready to maintain their leading role as key investors and partners for Vietnamese businesses. He also affirmed Viet Nam's strategic role in ensuring global economic security and sustainable supply chains through diversification and cooperation.
The US-Viet Nam Business Summit 2025 was jointly organised by the Viet Nam Chamber of Commerce and Industry (VCCI), the US Chamber of Commerce (AmCham) in Ha Noi, and the US Chamber of Commerce in Washington D.C.
