Vietnam

In an effort to build Vietnam’s self-reliance, the United States works to spur further growth and trade competitiveness, combat pandemic threats, promote renewable energy, address war legacy issues, and conserve Vietnam’s forests and biodiversity.

U.S. assistance in Vietnam focuses on consolidating gains to ensure sustainable economic development while promoting good governance and the rule of law. Assistance projects aim to deepen regulatory reforms, improve the capacity and independence of Vietnam’s judicial and legislative bodies, and promote more effective public participation in the law and regulation-making processes. The United States also assists the Government of Vietnam to bring its laws and practices into compliance with international labor standards and effectively enforce labor laws and uphold workers’ rights. U.S. assistance seeks to support Vietnam’s response to climate change and other environmental challenges, including remediating Agent Orange/dioxin contamination, strengthening the country’s health and education systems, and assisting vulnerable populations. The United States and Vietnam successfully concluded the first phase of dioxin remediation at Danang International Airport in 2017, and in December 2019 commenced a 10-year remediation project at Bien Hoa Air Base as well as a $65 million initiative to provide assistance to persons with disabilities in conflict-affected provinces.

Since entry into force of the U.S.-Vietnam bilateral trade agreement in 2001, trade between the two countries and U.S. investment in Vietnam have grown dramatically. The United States and Vietnam have concluded a trade and investment framework agreement; they also have signed textile, air transport, customs, and maritime agreements. U.S. exports to Vietnam include machinery, computers and electronics, yarn/fabric, agricultural products, and vehicles. U.S. imports from Vietnam include apparel, footwear, furniture and bedding, agricultural products, seafood, and electrical machinery. U.S.-Vietnam bilateral trade has grown from $451 million in 1995 to over $90 billion in 2020. U.S. goods exports to Vietnam were worth over $10 billion in 2020, and U.S. goods imports in 2020 were worth $79.6 billion. U.S. investment in Vietnam was $2.6 billion in 2019.