The move is another step toward the realization of the bilateral Comprehensive Strategic Partnership.

The US gave a positive assessment of Vietnam's monetary and exchange rate policies.

Bilateral trade between the two countries amounted to US$38.6 billion in the first four months of 2024, with the US remaining Vietnam's largest export market.

The country, however, ran a trade deficit of US$1 billion in May, the first in nearly two years.

The US expresses its strong support for Vietnam's development in high-tech sectors, energy transition, climate change adaptation, and dealing with the legacy of war.

Kim Huat Ooi, Vice President of Manufacturing, Supply Chain and Operations and General Manager of Intel Products Vietnam, spoke to The Hanoi Times about Vietnam's semiconductor ambitions and Intel's contribution to making the country a global manufacturing and R&D hub.

Vietnam's efforts and achievements in safeguarding human rights, including ensuring freedom of religion and belief, have recently been internationally acknowledged.

The upgraded relationship means that the bilateral cooperation is not only expanding but also deepening and becoming more substantial, not only for the two countries but also with regional and global implications.

Vietnam is shaping a semiconductor strategy until 2030, with a vision to 2035. It emphasizes active participation in the regional semiconductor ecosystem and attracting global business investments.