Vietnam is now the second largest supplier of apparel, footwear, and travel goods to the US market (Photo: baodautu.vn)
Hanoi (VNA) - Vietnam is currently the 10th largesttrading partner of the United States and an important link in this country'ssupply chain.
Recently, 90 CEOs of leading US companies have urgedPresident Joe Biden to accelerate the donation of vaccines to Vietnam as it battlesits most serious COVID-19 outbreak, Dau tu (Investment) online newspaprer reported.
In a letter sent to the US President, the CEOs of companieslike Adidas, Coach, Gap, Hanesbrands, Nike, VF and Under Amour have emphasizedthat Vietnam is an important economic and supply chain partner of the US.
Vietnam “is now the second largest supplier of apparel,footwear, and travel goods to the US market. Further, Vietnam has become amajor supplier of crucial inputs for America’s small but important footwearmanufacturing industry,” the letter said, adding about 3 million US workers areconnected - through the value chains - to many millions more in Vietnam.
“The health of our industry is directly dependent on thehealth of Vietnam’s industry,” the CEOs wrote.
The CEOs have asked President Biden to accelerate thedonation of vaccines and other materials to help keep Vietnam on a strongfooting so it can quickly recover, noting that the crisis of their employees inVietnam is also their crisis.
Twenty-six years after the normalisation of bilateralrelations, economic and trade ties between Vietnam and the US have seen greatprogress, with two-way trade hitting an all-time high of 90.8 billion USD in2020, up 19.8 percent year-on-year, despite serious impacts of the COVID-19pandemic.
Since the Vietnam - US Bilateral Trade Agreement (BTA) tookeffect in December 2001, two-way trade has continuously increased.
Bilateral trade was maintained in the first seven months of2021 as the US continued to be Vietnam's largest importer with a turnover of53.7 billion USD, up 37.7 percent year-on-year./.
US Vice President Kamala Harris launched the US Centers for Disease Control and Prevention (CDC) Southeast Asia Regional Office in Hanoi at a ceremony on August 25 during her three-day visit to the country.
Prime Minister Pham Minh Chinh has affirmed that Vietnam treasures ties with the US and wants to foster bilateral comprehensive partnership in a practical, effective and stable manner, for the sake of peace, cooperation and development in the region and the world.
Since the normalisation of bilateral relations in 1995, economic and trade ties between Vietnam and the US have seen great progress, with two-way trade hitting an all-time high of 90.8 billion USD in 2020, up 19.8 percent year-on-year, despite serious impacts of the COVID-19 pandemic.
The White House on August 25 issued a statement highlighting the enhancement of the US-Vietnam Comprehensive Partnership, affirming that US Vice President Kamala Harris’s visit to Vietnam signifies the US’s deep commitment not only to the region, but also to the US-Vietnam relationship.
China’s Laoling city, in coordination with VINEXAD, hosted a series of events in Ho Chi Minh City from August 7-9 to seek trade and economic cooperation with Vietnam.
Vietnamese Ambassador to Cambodia Nguyen Minh Vu led a delegation to Mondulkiri, Ratanakiri, and Kratie provinces from August 5-8, aiming to deepen economic ties and support Vietnamese businesses operating in Cambodia’s northeastern region.
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.
Vietnam is now the second largest supplier of apparel, footwear, and travel goods to the US market (Photo: baodautu.vn) 
