Top Vietnamese Leader Meets US Business Giants, Boosting Economic Ties

Vietnamese Party General Secretary and President To Lam met with representatives of major US groups in New York, endorsing Qualcomm's plan to position Vietnam as a key Asian hub and significant global R&D center. This move aligns with the science, technology, and innovation cooperation under the Comprehensive Strategic Partnership between the two countries. Vietnam has been building a solid semiconductor and electronics industry, attracting major US companies like Intel, Synopsys, Cadence, and Marvell. Intel Products Vietnam is one of Intel's largest assembly and testing facilities globally. The meeting aims to deepen existing cooperation and encourage investment in high-value, technology-intensive, long-term projects. Deputy Prime Minister Nguyen Van Thang stated that Vietnam seeks not merely to attract more investment capital but to establish partnerships based on co-creation. The US is one of Vietnam's largest and most important export markets. Beyond traditional products like garments, footwear, and wooden furniture, Vietnamese food products are increasingly common in distribution channels. Vietnam's trade flows remain robust, with growth approaching 30% year on year, driven by strong demand for consumer goods and production materials. Processing and manufacturing, particularly electronics and machinery, continued to drive export growth. Under its one-party system, Vietnam prioritizes economic growth and strengthening ties with the international community. Enhanced relations with the US carry strategic significance, not only for economic benefits but also for geopolitical balance. Vietnam is also focusing on clean energy transition, with Bac Ninh committed to accelerating the shift to clean energy, especially rooftop solar power. Infrastructure development, including the DT975 corridor on Phu Quoc Island, is also a priority to create an attractive investment environment for international investors. Copyright, VietnamPlus, Vietnam News Agency (VNA)