Vietnam, US in position to discuss sensitive issues like market economy status: ambassador
Following an unprecedented double upgrade of diplomatic ties, Vietnam and the U.S. are in a position to have the most open and frank dialogues about sensitive and uncomfortable issues related to trade and investment, including the recognition of Vietnam as a market economy, U.S. ambassador to the Southeast Asian country Marc Knapper has stated.

U.S. ambassador to Vietnam Marc Knapper speaks at a press briefing in Hanoi on September 13, 2023. Photo by The Investor/Minh Tuan.
In the lead-up to President Joe Biden’s visit (September 10-11) to Vietnam, discussions touched on related issues, for example, market economy status, Knapper said in response to The Investor’s question at a press briefing in Hanoi on Wednesday.
During Biden’s visit, the two former war foes elevated their ties by two notches to a comprehensive strategic partnership, the highest designation in Vietnam’s diplomatic hierarchy, on a par with China, Russia, India and South Korea.
The upgrade sends a strong signal to both countries’ peoples and to the world that “our futures are bound together”, and “Vietnam’s successes are America’s successes, and America’s successes are Vietnam’s successes”, the ambassador said.
The Vietnamese government has strong interest in addressing trade-related issues. The two countries have the mechanisms in place to discuss hard subjects. “This [discussion] will continue because of the mutual respect and trust that we have for each other,” the ambassador added.
Under the Trump administration, Vietnam was put on the watchlist for currency manipulation but was removed from the list in April 2021, three months after Biden’s inauguration.
The upgraded ties entail deeper cooperation in a wide range of areas, such as science and technology, trade and investment, climate and energy, and people-to-people ties.
The two countries are committed to working together in areas of science and technology, semiconductors, education and training, and upskilling workforce development. “All of these things with the goal of ensuring that Vietnam has the workforce it needs to meet the challenges and opportunities of the 21st century,” Knapper said.
More than 70 countries and territories have recognized Vietnam’s market economy status. In July, the UK hinted that it will be the next to recognize that Vietnam’s industries are operating in a market economy and will not impose unfavorable rules should they be investigated under trade defense measures.
- Read More
What’s driving ambitious business plan of Vietnam's major developer Phat Dat?
Phat Dat Real Estate Development Corp (HoSE: PDR), a major developer in Ho Chi Minh City, aims for revenue of up to VND3.3 trillion ($126.8 million) this year, four times higher than in 2024.
Real Estate - Thu, June 12, 2025 | 8:49 am GMT+7
Indonesia partners with Japan’s SMBC to boost exports
Indonesia’s Ministry of Trade has partnered with Japan’s Sumitomo Mitsui Banking Corporation (SMBC) to expand exports, particularly in high-quality and sustainable products.
Southeast Asia - Wed, June 11, 2025 | 9:39 pm GMT+7
Netherlands to invest $300 mln in Indonesia
The Netherlands has prepared an investment of IDR 4.89 trillion ($300 million) to support various programs currently being implemented in Indonesia, according to the Indonesian Chamber of Commerce and Industry (Kadin).
Southeast Asia - Wed, June 11, 2025 | 9:36 pm GMT+7
Singapore-based Jetstar Asia to cease operations from July 31
Singapore-based low-cost airline Jetstar Asia will cease operations from July 31 as part of a “strategic restructure” by its parent company, Australian flag carrier Qantas.
Southeast Asia - Wed, June 11, 2025 | 9:33 pm GMT+7
Indonesia aims to stop corn imports in 2026
Indonesian President Prabowo Subianto has revealed that Indonesia is targeting to stop importing corn from 2026 when it is hoping to achieve self-sufficiency in corn production.
Southeast Asia - Wed, June 11, 2025 | 8:48 pm GMT+7
Nickel extraction threatens archipelago tourism in Indonesia
A nickel mining project in Raja Ampat, Indonesia has raised significant environmental concerns due to its potential to harm the archipelago’s ecotourism industry.
Southeast Asia - Wed, June 11, 2025 | 8:43 pm GMT+7
Vingroup forms consortium with VinEnergo to develop LNG-fueled power plant in northern Vietnam
Vingroup, Vietnam's leading private conglomerate, will join a consortium with VinEnergo, an energy firm majority-owned by billionaire Pham Nhat Vuong, to invest in a 4,800MW LNG-fueled power project in the northern port city of Hai Phong.
Energy - Wed, June 11, 2025 | 5:49 pm GMT+7
Techcombank wins Gold for Innovation in Cross-Media Marketing at 2025 Asia-Pacific Stevie Awards
Techcombank has reaffirmed its position as a leading banking brand in Vietnam by Brand Equity Index (BEI), achieving the highest score in the Vietnamese banking industry for a second consecutive quarter in Q1/2025, according to market research firm NielsenIQ.
Companies - Wed, June 11, 2025 | 5:22 pm GMT+7
Tech giant Qualcomm launches AI R&D center in Vietnam, its third outside US
Qualcomm on Tuesday launched an AI research & development (R&D) center in Vietnam, after acquiring a 65% stake in AI company MovianAI from Vingroup, a leading Vietnamese conglomerate, earlier this year.
Industries - Wed, June 11, 2025 | 3:16 pm GMT+7
Vietnam seeks big investments in high tech, renewables, logistics: forum
Vietnam is looking for critical private investments in the sectors of high technology, semiconductors, renewable energy (LNG, hydrogen, electric batteries), logistics, industrial park development, innovation, and digital transformation.
Economy - Wed, June 11, 2025 | 3:05 pm GMT+7
Making home ownership accessible again: Nam Long ADC chairman
Following the success of delivering over 10,000 affordable homes (EHome) and social housing units (EHomeS) in southern Vietnam, Nam Long ADC – a member of Nam Long Group – is strategically expanding this pioneering model to the northern market. Steven Chu, chairman of Nam Long ADC, provides an insight into this strategic move.
Executive Talk - Wed, June 11, 2025 | 2:00 pm GMT+7
Vietnam, France sign energy, mineral cooperation deals
Vietnamese and French agencies signed two cooperation documents in energy and minerals in Paris on Tuesday (local time).
Economy - Wed, June 11, 2025 | 12:19 pm GMT+7
Spain willing to cooperate with Vietnam in high-speed railway development: Spanish PM
Spain, which boasts the world's second-longest high-speed railway system, is ready to cooperate and share expertise with Vietnam in this field, said Spanish Prime Minister Pedro Sanchez.
Infrastructure - Wed, June 11, 2025 | 11:02 am GMT+7
Vietnam's leading construction materials maker Viglacera projects 21% revenue hike in 2025
Viglacera, Vietnam's leading producer of building materials, targets VND14.44 trillion ($555.12 million) in revenue for 2025, up 21% from last year.
Companies - Wed, June 11, 2025 | 10:38 am GMT+7
Vietnam’s first LNG power plants to begin commercial operation this year
Nhon Trach 3 and 4, Vietnam’s first LNG-fired power plants, are expected to begin commercial operations this year, according to a new ministerial decision.
Energy - Wed, June 11, 2025 | 10:00 am GMT+7
Europe-Asia Industry Cooperation Forum to take place in Hanoi today
The Vietnam's Association of Foreign Invested Enterprises (VAFIE), in association with F&H International Industry, will organize the Europe-Asia Industry Cooperation Forum in Hanoi today.
Economy - Wed, June 11, 2025 | 7:30 am GMT+7