Home / Investment / News
Vietnam ready upgrade US ties on 10th anniversary of comprehensive partnership
Son Nguyen - Lien Ha 21:38, 2023/03/23
The US was the largest export market to Vietnam in 2022 with Vietnamese exports to the former reaching US$100 billion.

Vietnam is willing and ready to foster bilateral relations with the US, Ministry of Foreign Affairs’ deputy spokesperson Dang Thu Hang said at a press conference in Hanoi on March 23.

Prime Minister meets US corporate executives on March 22 during a meeting with the US-ASEAN Business Council. Photo: VGP

"The Vietnamese Government expects to foster our relations with President Joe Biden's administration," Hang replied to a reporter's question about Vietnam's readiness to upgrade the Comprehensive Partnership to a Strategic Partnership with the United States.

"We hope the Vietnam-US relations will be strengthened in-depth, sustainability and efficiency for regional and international peace and cooperation," she said.

Hang said that the Vietnam-US comprehensive partnership has grown stronger in the face of bilateral, regional, and international matters after 10 years, with exchanges and discussions of high-ranking officials increasing in quantity and quality.

"Vietnam and the US always honor the Charter of the United Nations and international laws and respect each other's sovereignty, political structure, and national unity," she added.

Vietnam and the US officially normalized and founded their bilateral relations in 1995, 20 years after the war ended.

Since then, the two nations have seen their diplomatic and economic relations keep strengthening year after year.

On July 25, 2013, Vietnam and the US agreed to promote the bilateral relationship to the next level, called "Comprehensive Partnership".

According to the deputy spokesperson, the US has been one of Vietnam's largest trade partners. In 2022, bilateral trade turnover hit US$123 billion, four times the number in 2013.

In addition, the US was the first export market in which Vietnam's exports were valued at more than US$100 billion. Vietnam also became the eighth largest trade partner to the US in the same year.

In return, the US companies poured US$11.4 billion into their Vietnam-based foreign direct investment (FDI) projects. The US was also the 11th biggest foreign investor in Vietnam.

The two nations have also realized a number of achievements in the prevention of the Covid-19 pandemic and the post-pandemic recovery, science and technology development, education and training, and environmental protection.

The US Government has actively assisted Vietnam in resolving post-war consequences, including removing and clearing unexploded ordinances, strengthening marine competency, and joining the United Nations' peacekeeping force.

In addition, Vietnam and the US tighten their relationship in climate change and sustainable development issues, especially on multilateral forums and conferences.

On March 21, a group of 50 corporation and business executives from the US began their visit to Vietnam. The visit, led by former US Ambassador to Vietnam – Ted Osius, will last until March 24.

The US executives will discuss business-doing and investment opportunities with the Vietnamese Government's leaders, ministries, and country-top corporations.

Key talks will focus on high-potential fields such as innovation, the digital economy, and the space industry.

On March 22, Prime Minister Pham Minh Chinh received the US delegates as part of the US-ASEAN Business Council.

TAG: Vietnam-the US diplomatic relations comprehensive partnership foreign relations economic relations foreign investment
Other news
21:38, 2023/05/23
Vietnam moves up 12 places in EIU’s business environment ranking
Vietnam is considered the country that has improved the most in promoting a fair, transparent, and favorable business environment.
16:53, 2023/04/19
Vietnamese Gov’t aims to approve North-South express railway project by 2025
The total estimated investment for the entire project is approximately US$58.71 billion.
22:13, 2023/04/17
US-based infrastructure investment fund promises US$1 billion for Vietnam
Vietnam said the fund is useful for its digitalization and green transition which are key to the realization of the 2050 net zero commitment.
21:38, 2023/03/23
Vietnam ready upgrade US ties on 10th anniversary of comprehensive partnership
The US was the largest export market to Vietnam in 2022 with Vietnamese exports to the former reaching US$100 billion.
11:37, 2023/03/22
Largest-ever US business delegation seeks investment opportunities in Vietnam
The fact that the visit to Vietnam this time has the largest number of US companies ever indicates a shift in the investment wave to Vietnam and other ASEAN countries.
15:32, 2023/03/09
China's Sunny Group plans US$2.5 billion investment in Vietnam
The Vietnamese Government will ensure favorable conditions for Sunny Group to succeed in their investment and business operations in the country.