During a meeting on 16/4 with 52 businesses led by the US-ASEAN Business Council (USABC), Prime Minister Le Minh Hung expressed his readiness to create the most favorable conditions for foreign businesses, including those from the US, to expand their business and investment in Vietnam.

Addressing specific areas of cooperation, the Prime Minister stated that the Government supports leading US energy corporations and businesses investing in Vietnam. This investment can contribute to ensuring national energy security and developing an equitable, transparent, and efficient energy market.

Vietnam also considers scientific and technological cooperation a new pillar in bilateral relations. The Government is ready to facilitate capable US telecommunications businesses accessing the market for research investment, technology transfer, and the development of telecommunications infrastructure, 5G, and submarine fiber optic cables in Vietnam, while ensuring national security and complying with the legal framework.

In February, the Ministry of Science and Technology granted a license for Starlink satellite internet services in Vietnam. The Prime Minister urged US businesses to enhance cooperation with domestic enterprises, implement technology transfer, especially core technologies, and support Vietnam in integrating more deeply into regional and global value chains.

Concurrently, the head of Government requested the USABC and US businesses to expedite the two countries reaching a reciprocal, fair, and balanced trade agreement. Additionally, he called for the US to soon consider recognizing Vietnam as a full market economy and remove Vietnam from the list of restricted export countries (D1-D3).

Prime Minister Le Minh Hung during a meeting with the US business delegation, afternoon of 16/4. *Photo: VGP*.

During the meeting, leaders of ministries and sectors also listened to many proposals and recommendations from US businesses concerning administrative procedures. The Prime Minister stated that procedural obstacles and business conditions would be immediately resolved. Both sides will continue deeper discussions on outstanding issues to find satisfactory solutions in the spirit of harmonized interests.

According to the Prime Minister, Vietnam is accelerating reforms, perfecting its legal framework and institutions, and improving the business investment environment. A priority is drastically cutting administrative procedures and business conditions. In the second Quarter, ministries and sectors must reduce compliance costs by 50% and procedural completion time by 50%. Ministries must not handle more than 30% of the total procedures within their management scope.

Recently, economic, trade, and investment relations between the two countries have continued positive development. The US remains Vietnam's largest export market. Two-way trade turnover reached 209,5 billion USD in 2025, with exports from the US to Vietnam reaching over 19 billion USD, a 28% increase compared to 2024. Vietnamese businesses have also signed contracts to purchase US aircraft and equipment worth over 37 billion USD.

Tat Dat