A prominent business mission is set to take place in Hanoi, Vietnam, with over 60 top US companies participating. Among the participants are industry giants like Boeing, Apple, Amazon, and GE, showcasing a strong show of confidence amidst potential US trade tariffs on the country. The mission, organized by the US-Asean Business Council, comes at a crucial time as Vietnam evaluates its duties on US goods, including liquefied natural gas, agriculture, and high-tech products, while facing threats of additional tariffs from President Donald Trump.
Companies Leading the Charge
The lineup of companies heading to Vietnam includes industry leaders with established operations in the country such as Apple, Intel, Coca-Cola, and Nike. Additionally, companies looking to tap into Vietnam’s thriving economy, like Boeing, Amazon, and Bell Textron, are also eager participants in the mission. The presence of these companies signals a strong interest in expanding their footprint in Vietnam and exploring new business opportunities within the region.
Among the participants are Excelerate Energy and GE Vernova, both of which have secured provisional deals with Vietnamese companies for the supply of gas equipment. Vietnamese officials have expressed a desire to increase imports of LNG products and services from the US, aiming to address the trade surplus between the two countries, which stood at over $123 billion in 2024. This strategic move aligns with Vietnam’s goal of strengthening trade relations with key partners like the United States.
High-Level Engagements and Concerns
During the mission, US companies will engage with top Vietnamese officials, including Prime Minister Pham Minh Chinh and the General Secretary of the ruling Communist Party To Lam. These meetings present a valuable opportunity for participants to discuss business prospects, address concerns, and foster stronger bilateral ties between the US and Vietnam. Companies like Exxon Mobil, with significant investments in Vietnam’s gas sector, are looking to leverage this mission to strengthen their presence and partnerships in the country.
Boeing, a key player in Vietnam’s aviation industry, has been actively involved in negotiations for the sale of planes and military equipment to the country. The company’s participation in the mission underscores its commitment to the Vietnamese market and highlights the potential for further collaborations in the aerospace and defense sectors. Financial institutions like JPMorgan, Visa, Mastercard, and Warburg Pincus are also part of the delegation, signaling the importance of financial services in driving economic growth and investment opportunities in Vietnam.
As US companies navigate the complexities of the global trade landscape, the mission to Vietnam serves as a platform for dialogue, collaboration, and business development. The presence of industry leaders across multiple sectors reflects a shared commitment to fostering mutually beneficial partnerships and driving innovation in one of Southeast Asia’s fastest-growing economies.
