In a video conveying the New Year 2024 message to the Vietnamese people, Knapper affirmed 2023 was a great year in US-Vietnam relations marked by US President Joe Biden's historic visit to Hanoi during which the two countries upgraded their ties to a comprehensive strategic partnership.

He particularly spoke about an increase in trade, economic and investment cooperation between the two countries, recalling Amkor Technology’s US$1.6 billion computer chip assembly, testing and packaging facility in Bac Ninh province, and VinFast’s US$4.5 billion electric vehicle production facility in North Carolina.

The two projects show the importance of bilateral trade to the resilience of global supply chains, said the ambassador, adding the two economies are more closely connected than ever.

The diplomat also affirmed that the two countries are cooperating more closely on emerging technologies, towards facilitating conditions for high-tech industries such as semiconductors to flourish.

According to the ambassador, Vietnam is also one of the leading countries having a large number of students studying in the US, amounting to nearly 30,000. The US is focusing on developing science, technology, engineering and mathematics (STEM) education to help modernize Vietnam’s higher education, as well as supporting digital commerce and workforce development.

Knapper also said the US is committed to solving post-war issues to heal the wound of the past war. The US and Vietnam agreed to update a cooperation agreements on dioxin decontamination at Bien Hoa airport, raising total funds to US$300 million

Vietnam is currently the seventh largest trading partner of the US. Two-way trade between the two countries increased from just US$450 million in 1995 to more than US$123 billion in 2022.

The US ranks 11th among investors in Vietnam with about 1,200 projects valued at nearly US$11.4 billion. Meanwhile, Vietnam currently has 230 investment projects in the US, with a total registered capital of US$1.26 billion.

In the Joint Leaders’ Statement upgrading the Vietnam-US Comprehensive Strategic Partnership in September 2023, both sides supported the rapid development of the semiconductor ecosystem in Vietnam, and they will actively coordinate to enhance Vietnam’s position in the global semiconductor supply chain.

The two sides also announced the launch of semiconductor workforce development initiatives supported by initial seed funding US$2 million from the US government, along with future Vietnamese government and private sector support.

Source: VOV