Viet Nam-U.S. trade value increases 460-fold in three decades

The above figure was released by Chair of AmCham Viet Nam Mark Gillin at the U.S.-Viet Nam Business Summit 2026 which took place in Ha Noi on October 14.

According to Gillin, the growth in the bilateral trade value has driven investment, created jobs, facilitated technology transfer and enhanced workforce skills, helping Viet Nam become more deeply integrated into global supply chains.

Addressing the summit, Standing Deputy Prime Minister Pham Gia Tuc urged both sides to promote cooperation across the entire value chain, from research, design, manufacturing and application to workforce training and technology ecosystem development in the fields of high technology, particularly semiconductors, artificial intelligence and data.

Both sides should give priority to investment in renewable energy, energy infrastructure and emissions-reduction technologies to help ensure energy security and sustainable development, he said.

He emphasized the need for both countries to boost sustainable supply chain development through stronger production linkages, diversified sources of supply, enhanced logistics capacity and greater resilience to fluctuations in international markets.

Pham called on both sides to strengthen cooperation in finance, innovation and entrepreneurship, including the development of new financial models, mobilization of long-term capital and support for innovative businesses.

He suggested both sides step up collaboration in education, training and high-quality human resource development, with stronger links among universities, research institutes and businesses, and training programs aligned with the needs of emerging technology industries.

The Vietnamese Government remains committed to enhancing institutional reforms and improving the investment and business environment to make it more transparent, stable, predictable and investor-friendly, affirmed Pham.

He expressed his hope that the U.S. would continue to facilitate market access for Vietnamese goods and ensure objective and balanced assessments of Viet Nam's economic realities in trade investigations conducted under Section 301 of the US Trade Act of 1974.

He also called on American businesses to expand their investments in Viet Nam, strengthen cooperation in core technologies, particularly semiconductors, and broaden links in technology, equipment, services, manufacturing standards and supply chains, laying a solid foundation for long-term cooperation.

The summit, themed "A New Era of Growth: Deepening the Viet Nam-U.S. Economic Partnership," drew the participation of U.S. Ambassador to Viet Nam Jennifer Wicks and more than 250 delegates representing government agencies, organizations, businesses and investors from both countries./.