Vietnam's trade ministry meets US tech, energy giants to discuss cooperation

Vietnam is ready to further expand imports of U.S. goods, particularly through procurement of machinery, equipment and high technology products, acting Minister of Industry and Trade Le Manh Hung said during meetings with major U.S. corporations in Washington D.C.

The meetings were held in recent days with executives from leading U.S. companies in high technology, energy and aviation, on the sidelines of the sixth round of negotiations on a fair and balanced Vietnam-U.S. reciprocal trade agreement, the ministry stated.

Speaking at a roundtable with U.S. companies in the energy, industrial and aviation sectors under the U.S.-ASEAN Business Council (USABC), Hung said Vietnam aims to work with the United States to build a stable, balanced and predictable economic cooperation framework to foster long-term confidence among businesses in both countries.

Vietnam is prepared to further increase imports from the United States, particularly via large procurement contracts for machinery, equipment and advanced technologies, he said.

Vietnamese companies have recently signed several major deals with U.S. firms, including VietJet’s order for 200 aircraft and Vietnam Airlines’s purchase of 50 Boeing planes, contributing to more balanced, sustainable and mutually beneficial bilateral trade, Hung added.

Energy security a top priority

In discussions with major U.S. companies in oil and gas, LNG, and renewable energy, Hung said ensuring energy security is one of Vietnam’s top priorities.

LNG-fired power has been identified as a key transitional energy source to help balance supply and demand and support the energy transition, while offshore wind and other clean energy sources are seen as long-term strategic priorities, he said.

The Ministry of Industry and Trade is working to complete transparent and stable legal frameworks for electricity, gas and renewable energy to facilitate the development of large-scale, strategic and economically efficient projects.

In industry and aviation, Hung said Vietnam values long-term cooperation in developing modern industry, logistics and aviation connectivity.

He called on Boeing to further expand its supply chain in Vietnam, deepen cooperation with local companies, and accelerate aircraft deliveries under existing contracts to support Vietnamese airlines in expanding their fleets and operational capacity.

Hung also held separate meetings with executives from Apple, Excelerate Energy and ExxonMobil to discuss more detailed cooperation in high technology and energy. He said Vietnam is committed to maintaining a stable, transparent and favourable investment environment for long-term projects.

GE equipment produces 36% of Vietnam’s electricity

At a separate meeting, Roger Martella, CEO, Power at GE Vernova, said GE currently supplies equipment and power turbines that contribute to around 36% of Vietnam’s total electricity output, underscoring the company’s deep involvement in the country’s power sector.

Hung described GE as a major long-term partner and urged the company to accelerate equipment and turbine deliveries for ongoing projects to ensure progress at key power facilities.

He also called on GE to increase support for Petrovietnam in completing the Long Phu 1 power project (in the former Soc Trang province, now part of Can Tho city) and to explore establishing an equipment supply, operations and maintenance hub in Vietnam in cooperation with local firms such as state utility Vietnam Electricity (EVN) and PV Power - a subsidiary of Petrovietnam.

AES pledges long-term commitment

In talks with acting Minister Hung, AES Corp's executive vice president Juan Ignacio Rubiolo reaffirmed the U.S. company’s commitment to long-term investment and operations in Vietnam.

AES praised the ministry’s efforts to improve the power sector policy framework, calling it critical to investor confidence and stability.

Hung said Vietnam’s electricity demand is rising rapidly and LNG-fired power is designated as a key baseload source. He added that Vietnam is gradually finalizing its legal framework for LNG power projects following the issuance of the amended Electricity Law and related regulations.

The successful operation of Nhon Trach 3 and Nhon Trach 4 power plants in 2025 has demonstrated the viability of the LNG power model, he added.

According to the Ministry of Industry and Trade, Vietnam’s exports to the United States in 2025 were estimated at $153.2 billion, up 28.2% year-on-year and accounting for 32.2% of the country’s total exports. Imports from the U.S. reached $19.3 billion, up 27.7% from a year earlier.