During a pivotal meeting in New York on September 23, 2025, Vietnam State President Luong Cuong emphasized the importance of increased investment to foster a “new era of cooperation that is rich in potential and sustainable.” This gathering brought together key executives from leading U.S. corporations, including Amazon, Apple, Boeing, and Meta. The discussions hinged on the tremendous potential for economic growth and mutual benefit between Vietnam and the United States.
The president is in the U.S. as part of the High-Level General Debate of the 80th session of the United Nations General Assembly. His visit, planned from September 21 to 24, also entails various bilateral activities designed to deepen ties with major global partners.
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Vietnam State President Luong Cuong speaks at a meeting with U.S. business executives in New York on Sep. 23, 2025. Photo by VNA |
Vietnam’s remarkable transformation from a struggling economy in 1986, with a per capita income below $100, to becoming one of the world’s top 32 economies and among the 20 largest trading nations is nothing short of extraordinary. This change is not only essential for the nation but also creates opportunities for international partnerships, particularly with influential economies like the U.S.
With 17 free trade agreements signed with over 60 major economies, Vietnam stands as a vibrant hub for trade. The evolution of Vietnam-U.S. relations over the past 30 years has been characterized by a “journey of reconciliation and trust-building.” The cooperation in economic, trade, and investments forms the bedrock of this bilateral relationship.
The depth of U.S.-Vietnam trade is impressive, having reached a staggering $140 billion, and today, numerous American corporations are thriving in the Vietnamese market. Major players like Coca-Cola and Boeing have established considerable operations, contributing significantly to mutual economic growth.
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U.S. business executives seen at the meeting. Photo by VNA |
Looking forward, Vietnam aims to achieve high-income developed country status by 2045. To realize this ambitious goal, the government is implementing significant reforms across various sectors. Enhancing the quality of the workforce and building robust infrastructure are seen as “key drivers of development.” This includes streamlining local government functions to promote efficiency and ensuring that the administrative framework supports growth.
The Vietnamese government is also making groundbreaking legal revisions aimed at creating a transparent and open business environment. These changes are crucial for attracting foreign investments and building trust between domestic and international stakeholders.
In line with global trends, Vietnam is advancing a national digital transformation strategy that seeks to reform administrative procedures, develop e-government services, and promote innovative solutions, particularly in renewable energy and the green economy. This commitment to digitalization and sustainability has captured the attention of business leaders, who recognize Vietnam as an increasingly attractive destination for capital investment.
During the meeting, U.S. executives expressed enthusiasm about Vietnam’s development strategies, indicating their confidence in the country as a promising venue for sustained investment. As Vietnam continues down this path of reform and innovation, the potential for collaboration with U.S. corporations forms a significant part of its economic narrative.