VCCI President Vu Tien Loc at the event (Photo: VNA)
Hanoi (VNA) 🌄– The US – Vietnam Business Summit took place in Hanoion October 9, on the occasion of the 25th anniversary of bilateral diplomatic ties.
The event was co-hosted by the American Chamber of Commerce inVietnam (AmCham), the US Chamber of Commerce (USCC) and the Vietnam Chamber ofCommerce and Industry (VCCI). Speaking at the event, VCCI President Vu Tien Loc spoke highlyof the two Governments’ efforts to establish bilateral cooperation in various areas,pushing two-way trade to nearly 76 billion USD in 2019 from 450 million USD in1994. The recent shift of global supply chain has lifted Vietnam tothe ninth place out of the biggest exporters to the US, from the 12th place. The two economies are increasingly supplementary, he said.
While Vietnam is strong in shipping aquatic products, cashewnuts, apparel, leather and footwear to the US, the American country is a major supplier of hi-tech machinery, aviation equipment, telecommunication services,energy, liquefied gas and raw farm produce.
🃏 Vietnam has become the 27th largest importer and the 16th biggest trade partner of the US.
With a 90 million population, young workforce, open andtransparent economic policy, Vietnam is seen as an attractive destination for foreigninvestors. Over 130 countries and territories are investing in the country. As of June, the US was the 11th largest investor in Vietnam with 988 projects capitalised at more than 9.3 billion USD, covering 42 out of 63 localities in the nation.
The US now ranks second among countries and territories receiving Vietnam's investment in 2019, with a total value of 93.4 million USD, or18.4 percent of Vietnam’s outbound investment. In the first quarter of 2020, the US took the lead in receiving investment from Vietnam with 20.1 million USD, equal to 40.8 percent.
🧸 Loc affirmed that the US’s multinational groups not onlycontributed to economic growth, technological transfer but also socialdevelopment such as improving working environment, raising workers’ income andactively joining social activities in Vietnam.
On the occasion, Amcham and VCCI announced the establishmentof the Vietnam – US Joint Business Council to collect the two businesscommunities’ initiatives and build a transparent business environment in the twonations, towards signing a bilateral free trade agreement. US Ambassador to Vietnam Daniel J. Kritenbrink described Vietnamas one of the fastest-growing export markets and a comprehensive strategicpartner of the US. He also wished that bilateral ties will further flourish in thefields of trade, aviation and energy./.
The United States (US) government through the US Agency for International Development (USAID) donated 100 brand-new ventilators to Vietnam during a hand-over ceremony in Hanoi on September 30 to support its ongoing response to COVID-19.
The Association of Vietnamese Professionals and Students in the US is organising the “Vong Tay Nuoc My 8” (the US’s arm 8) event from October 9 to 11 to celebrate the 25th anniversary of Vietnam-US diplomatic relations.
The US Embassy in Vietnam held a ceremony in Hanoi on October 9 to celebrate the 244th anniversary of the US’s independence and the 25th founding anniversary of the two countries’ diplomatic relations.
Party General Secretary To Lam’s upcoming state visit to the Republic of Korea (RoK) is expected to mark a new milestone in the bilateral relationship, creating fresh momentum for trade and investment cooperation between the two countries.
In the context of the growing global digital economy, digital transformation and the promotion of e-commerce are key drivers helping Vietnam boost integration, enhance competitiveness, and expand export markets, according to the Vietnam E-commerce and Digital Economy Agency
Tilapia is considered highly competitive in export markets thanks to its affordability, ease of processing, and appeal across both high-end and mass-market segments.
In the first seven months of the year, Phu Tho attracted an impressive 651.7 million USD in foreign direct investment, including 35 newly licensed projects totaling 119 million USD in registered capital and 45 existing projects with an additional capital of 533 million USD.
Under the agreements, VinEnergo will invest in, install, and operate 43 MWp of rooftop solar power capacity and 45 MWh of BESS capacity across the three plants.
Under a draft to amend and supplement the Government's Decree 125/2020/ND-CP on administrative sanctions for violations of tax and invoice regulations, the Ministry of Finance has proposed classifying the failure to issue invoices into five different levels. Infraction levels will correspond to fines of 1 million VND to 80 million VND, depending on the nature and number of invoicing violations.
A new airline developed and invested by Sun Group — has officially announced a strategic partnership with Amadeus IT Group (Amadeus), one of the world’s leading travel technology companies. This agreement not only lays the foundation for a modern digital infrastructure but also marks a pivotal step in SPA’s global expansion strategy, enabling the airline to access international distribution networks and reach customers worldwide.
Of the total, 107,700 were new firms, with combined registered capital of 928.4 trillion VND (35.4 billion USD), up 10.6% in number and 5.5% in capital compared with the same period last year.
Experts agree that a combination of technology, enforcement, education and cross-border cooperation is essential to protect copyrighted content in Vietnam’s growing digital ecosystem.
Poland is Vietnam’s largest export market in Central and Eastern Europe, with key staples including seafood, textiles, footwear, coffee, and cashew nuts.
Cashless payments are growing at an impressive rate, averaging 30–40% annually. Vietnam’s per capita cashless transaction volume now trails only China, with total value of 295.2 quadrillion VND (11.26 trillion USD), or 26 times of its GDP.
A draft resolution on piloting a digital asset and cryptocurrency market is being developed, aiming to create a broad-enough regulatory sandbox that enables investor participation and provides practical grounds for policy refinement in areas such as risk management and anti-money laundering.
Viettel was ranked third for overall mobile performance with a score of 82.56 just behind UEA’s e& (88.05) and Quatar’s Ooredoo (87.05) and ahead of Singapore’s Singtel (82.53). Vinaphone took second in 5G speed with a score of 78.11, trailing only behind e&.
PM Chinh proposed MUFG work closely with the Ministry of Finance to improve legal frameworks and support the establishment and operation of the international financial centre in Da Nang and Ho Chi Minh City.
VCCI President Vu Tien Loc at the event (Photo: VNA) 
