President Joe Biden’s visit coincides with the 10th anniversary of the establishment of the comprehensive partnership between the two countries. This is also the first time that both the US President and Vice President have visited Vietnam in the same term. Therefore, the visit continues the tradition of nearly 30 years of Vietnam-US relations, when incumbent US Presidents have visited Vietnam.
In the 28 years since the two sides normalized relations, bilateral trade has increased from 450 million USD in 1995 to more than 120 billion USD in 2022; from January to July it reached more than 61 billion USD. Compared to when the two countries established a comprehensive partnership in 2013, bilateral trade has increased about 4 times.
According to the Ministry of Planning and Investment, as of June 20, 2023, US businesses have invested in 1,270 projects in Vietnam, with a total registered capital of over 11.73 billion USD, placing the world's No. 1 economy 11th among countries and territories "pouring" capital into Vietnam.
The following is some information about the cooperative relationship between Vietnam and the US in recent times according to the General Statistics Office (Ministry of Planning and Investment).
Value of Vietnam's goods exports to the US
Value of US goods imported into Vietnam
Number of Americans entering Vietnam from 2013 - 2022
US FDI capital in Vietnam registered by year
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