Vietnam and the US will continue to give high priority to bilateral cooperation in economics, trade, investment, and science and technology and innovation after the State visit to Vietnam by US President Joe Biden on September 10 and 11, according to Deputy Minister of Foreign Affairs Ha Kim Ngoc.

These fields are considered drivers of the relationship between the two countries, Mr. Ngoc told the press prior to President Biden’s visit.

Both will also focus cooperation on supply chains, developing infrastructure, training high-quality human resources, energy transition, the digital economy, and the green economy.

Science and technology and innovation will be breakthrough fields of cooperation. The two countries will concentrate on developing digital platforms, a semiconductor ecosystem, and the application of artificial intelligence, Deputy Minister Ngoc said.

Attention will also be paid to energy transition, biotechnology, healthcare, and pharmaceuticals, he added.

Two-way trade has seen remarkable and impressive growth since the normalization of bilateral relations, rocketing from $450 million in 1995 to $123 billion last year.

Vietnam has become the US’s seventh-largest trade partner and its largest in ASEAN. Since 2022, the US has been Vietnam’s largest export market, with $100 billion worth of imports.

The US has also been one of the leading investors in Vietnam, at over $11 billion last year, excluding investments via US company branches in third countries.

Several Vietnamese firms have also invested billions of dollars in the US.