(VOVWORLD) - The US has become one of the biggest trade partners of Vietnam, as two-way trade reached over 27 billion USD in the first half of this year, according the 2018 US-Vietnam Business Summit in Hanoi on Monday.
Addressing the event themed “Defining the Future of Bilateral Economic Relations,” Deputy Prime Minister Trinh Dinh Dung reiterated Vietnam’s resolve to fine-tune institutions and streamline administrative reform to facilitate foreign investors. In recent years, economic, trade and investment cooperation has become an important foundation and motivation for the Vietnam-US relationship, he said.
“Vietnam welcomes and treasures US-invested projects, especially those in renewable, green and sustainable energies, oil and gas, infrastructure, finance-banking, education-training, tourism, agriculture, and high technology. US businesses in Vietnam will certainly grow stronger in the near future,” Mr. Dung noted.
As of June this year, the US had more than 870 valid projects in Vietnam with a total capital of 9.4 billion USD, ranking 10th out of the 128 countries and territories investing in the country. Vietnam mostly exports aquatic products, cashew nuts, garments and footwear to the US, while importing high-technology products. Nearly 30,000 Vietnamese are studying in the US, the highest amount among ASEAN countries and the sixth largest among countries having students in the US.