Vietnam - United States Cooperation Forum to be held

The “Vietnam - United States Cooperation Forum: Innovation Towards Sustainable Development,”  to be jointly organized by the University of Economics and Business (UEB) under Vietnam National University (VNU), the Vietnam Union of Friendship Organizations, and Troy University (USA), will take place in Hanoi on November 15, with Vietnam Economic Times / VnEconomy becoming its media sponsor. 

This event is part of a series of key activities commemorating the 50th anniversary of the University of Economics and Business - VNU (1974-2024).

Nearly 30 years after establishing diplomatic ties in 1995, Vietnam and the US have made significant progress in their bilateral cooperation. The  Vietnam-US Comprehensive Partnership that was established in 2015 was upgraded to a Comprehensive Strategic Partnership for Peace, Cooperation, and Sustainable Development in September 2023, during President Joe Biden's visit to Vietnam, thus opening doors for expanded collaboration across various sectors.

In recent years, the United States has maintained its position as Vietnam's largest export market, while Vietnam has become the former's 8th largest trading partner and most important trading partner within ASEAN.

Specifically, bilateral trade between the two countries has seen significant growth, averaging 16 per cent per year. In the first 10 months of 2024, bilateral trade value reached nearly $111 billion, equivalent to the figure recorded in 2023. Of this, Vietnam’s exports to the United States totaled $98.5 billion (up 24.2 per cent), while imports from the United States reached $12.3 billion (up 8.2 per cent).

Notably, the United States has, for the first time, become the largest market for Vietnam's agricultural, forestry, and fisheries products in the first eight months of 2024, with export turnover totaling $8.58 billion, accounting for 21.4 per cent of the total export turnover from this sector. In terms of investment, the United States is currently the 11th largest foreign investor in Vietnam, with over 1,340 projects and more than $11.8 billion of registered capital.

Many major U.S. corporations, such as Boeing, Nike, ExxonMobil, Amazon, Marriott, Coca-Cola, Google, Facebook, and Netflix, have increased their presence and are committed to expanding operations in Vietnam. Conversely, large Vietnamese corporations, such as FPT and VinFast, are also increasing their investments in the United States, creating intertwined economic benefits between the two nations.

Therefore, the “Vietnam - United States Cooperation Forum: Innovation Towards Sustainable Development” is expected to not only have international influence and outreach by directly connecting scholars, researchers, policymakers, and businesses from Vietnam and the United States but also aim to strengthen trade, services, and investment flows between Vietnam - United States. It will focus on cooperation between the two countries in many fields such as the chip and semiconductor industry, high-quality workforce training, science and technology, energy efficiency, and environmental protection, among others.

The forum will consist of a plenary session (featuring presentations by Vietnamese and U.S. speakers) and two roundtable discussions.

- Roundtable 1: "Vietnam - U.S. Investment and Trade Cooperation"

This session will focus on bilateral trade growth, opportunities and challenges in supply chains, FDI, renewable energy, and sustainable development. The discussion will identify measures to enhance business cooperation and technology transfer, as well as ESG (environmental-social-governance) strategies.

- Roundtable 2: "Innovation and Education Cooperation Towards Sustainable Development"

This session aims to promote innovation in education and the development of a high-quality workforce, build a startup ecosystem, advance STEM education, digital skills, and the role of universities in applied research. The session will also discuss digital and AI applications in education to enhance sustainable education and environmental awareness.

The forum will be attended by representatives of government agencies, major organizations, and businesses from both Vietnam and the United States, as well as numerous delegates from ministries, organizations, associations, research institutes, universities, and both domestic and international press agencies.