Vietnam will remain a highly appealing destination for U.S. businesses, driven not only by its potential but also by the genuine quality of its business environment. This was affirmed by U.S. Ambassador to Vietnam Marc Knapper during a discussion regarding the 30-year journey of Vietnam-U.S. relations.
Vietnam is becoming an exceptionally attractive destination for investors worldwide
According to Ambassador Marc Knapper, the journey that the U.S. and Vietnam have traveled over the past 30 years is truly remarkable. Starting from modest trade and investment cooperation three decades ago, the two nations have now evolved into Comprehensive Strategic Partners.
As Vietnam sets bold milestones, such as achieving high-income status by 2045 and becoming a high-tech, green, and digital economy, the U.S. stands as a key partner in those aspirations. The Ambassador noted that Vietnam is an incredibly attractive hub for investors, traders, and those seeking joint manufacturing partnerships and technology transfer.
“You have a population of 100 million, most of whom are young, tech-savvy, and highly educated. U.S. companies and foreign enterprises recognize not just the potential but the actual quality of the business environment here. I believe the potential remains limitless, and Vietnam will continue to be a very attractive place for U.S. businesses to operate,” said Ambassador Marc Knapper.
High expectations for Vietnam
At the seminar “30 Years of Vietnam-U.S. Relations: Sustaining Momentum, Towards Balanced and Sustainable Trade” held on July 11, Dr. Can Van Luc, Chief Economist of BIDV, highlighted the vast opportunities for goods flowing between the two countries. He noted that the economies of both nations are complementary rather than competitive.
“U.S. enterprises are very interested in the Vietnamese market. They often ask us about Vietnam’s strategic position within the Indo-Pacific region and seek potential sectors for investment. We have identified several key areas, including energy, education, healthcare, pharmaceuticals, semiconductor technology, and Artificial Intelligence (AI),” shared Dr. Can Van Luc.
Dr. Nguyen Xuan Duong, Chairman of the Animal Husbandry Association of Vietnam, echoed this sentiment, affirming that agricultural potential remains immense and complementary, fostering sustainability and balance. Dr. Nghiem Tuan Hung from the Institute of European and American Studies expressed expectations for cooperation in modernizing agriculture, improving product quality, and preserving indigenous genetic resources.
Furthermore, seaport cooperation holds great promise, with hopes that Vietnam can become a new model for development. High-quality investment from the U.S. is expected to not only bring technology but also assist Vietnam in controlling its export value chains from within.
A strategic window of opportunity
Dr. Vu Hoang Linh from the University of Economics and Business – VNU Hanoi, reported that in 2024, Vietnam’s total export turnover reached approximately 405 billion USD. Notably, exports of electronics, computers, and components reached 126.5 billion USD, accounting for over 31% of total export value. This serves as clear evidence that Vietnam is becoming a vital link in the global technology supply chain.
Vietnam currently stands before a “strategic window of opportunity” to integrate more deeply into global supply chains. To seize this, Dr. Vu Hoang Linh recommended that Vietnamese enterprises actively invest in digital supply chain management, increase production transparency, and collaborate closely with foreign partners to move up the value chain.
“To not only be ‘chosen’ but also to ‘maintain a position’ in the global supply chain, the role of Vietnamese enterprises is pivotal. We must shift our mindset from ‘passive processing’ to ‘actively creating value’,” Dr. Vu Hoang Linh emphasized.
Source: Industry and Trade Magazine – Nguyen Hanh
(SOTRANS Group News)
