U.S. and Vietnamese companies are preparing to announce agreements across energy, technology, aviation and finance as Vietnamese leader To Lam travels to New York. The deals come as the two countries continue negotiations over trade.
According to a report by Reuters, documents reviewed by the news agency showed that as many as 29 potential agreements could be announced at a business conference in New York on September 23.
What Happened
The planned agreements involve major U.S. and Vietnamese companies across several industries, including energy, aviation, technology and financial services.
Many of the agreements are expected to be non-binding. Reuters reported that the commercial deals are part of Vietnam’s efforts to strengthen ties with Washington as the Trump administration threatens new tariffs on the export-dependent Southeast Asian economy.
To Lam was scheduled to attend the United Nations General Assembly in New York on September 22. He was also expected to meet with several U.S. companies during his visit.
His trip was expected to focus partly on advancing U.S.-Vietnam trade negotiations, which had been underway for more than a year.
Energy Agreements
Several major U.S. energy companies are included in the planned agreements.
Murphy Oil and Chevron were expected to announce agreements with Vietnam’s state-owned Petrovietnam.
ExxonMobil was also expected to announce an agreement with Vietnam Refinery and Petrochemical Corporation, the country’s second-largest refinery.
The planned agreements build on existing commercial discussions. Vietnam Refinery and Petrochemical Corporation signed a non-binding oil supply agreement with Chevron in February. However, no subsequent purchase had been announced when Reuters published its report.
Murphy Oil is active in oil and gas exploration in Vietnam. ExxonMobil also operates the country’s largest gas field, although the field had not yet begun production.
Aviation and Technology Deals
Vietnam’s largest private airline, Vietjet, was expected to announce several agreements involving U.S. and international aviation companies.
Documents reviewed by Reuters indicated plans to lease as many as 22 aircraft from four aviation leasing companies. The planned fleet included 17 Boeing 737 aircraft and five Airbus A321neo jets.
Vietjet was also expected to sign an agreement with SpaceX to provide Starlink satellite internet service to 120 aircraft.
Additional memoranda of understanding were planned with U.S. companies that provide aircraft engine maintenance services.
The provisional list also included an agreement between Meta and Vietnam’s Ministry of Culture.
Another planned agreement involved U.S. chipmaker Qualcomm and Vietnamese telecommunications company VNPT.
Financial Services Partnerships
The planned agreements also extend to financial services.
Visa, Mastercard and Citibank were among the companies listed as potentially announcing partnerships with Vietnamese financial and hospitality businesses.
The range of planned agreements shows how broadly U.S. and Vietnamese companies are developing commercial ties.
These business partnerships are also taking shape while both governments negotiate broader economic arrangements.
Trade Negotiations With the United States
The business agreements come against the backdrop of ongoing U.S.-Vietnam trade negotiations.
Vietnam is heavily dependent on exports, making access to the U.S. market
Related Reading
- Trump Extends $100,000 H-1B Fee for Another Year
- Bessent Proposes US-China AI Safety Notifications in Talks With Chinese Vice Premier
Potential agreements covered energy, aviation, technology and finance, including deals involving Chevron, ExxonMobil, Vietjet, SpaceX and Qualcomm.
The agreements come as Vietnam seeks stronger commercial ties with the United States while the two countries negotiate a broader trade agreement.