‘Invest more in Vietnam’: President Luong Cuong tells American business execs in New York

Increased investment would help "build a new era of cooperation that is rich in potential and sustainable," the visiting leader said during a meeting in New York, the U.S., Tuesday with executives from leading U.S. corporations including Amazon, Apple, AES, Amway, Boeing, Warburg Pincus, Meta, Coca-Cola.

The president is in the U.S. as part of the High-Level General Debate of the 80th session of the United Nations General Assembly. His working trip, scheduled between Sept. 21 and 24, also includes bilateral activites.

Vietnam State President Luong Cuong (standing) speaks at a meeting with U.S. business executives in New York on Sep. 23, 2025. Photo by VNA

Vietnam had transformed from an inefficient economy with a per capita income below $100 in 1986 to one of the world’s top 32 economies and 20 largest trading nations.

It had signed 17 free trade agreements involving over 60 major economies.

The evolution of Vietnam-U.S. relations over the last 30 years had been "a journey of reconciliation and trust-building between the two countries."

"Economic, trade, and investment cooperation have always been foundational pillars."

Bilateral trade had reached $140 billion, with many major U.S. corporations now operating successfully in Vietnam.

U.S. business executives seen at the meeting. Photo by VNA

Vietnam targeted high-income developed country status by 2045, and to this end had implemented institutional reforms, enhanced workforce quality and built major infrastructure, all "key drivers of development."

Restructuring at the local government level had been completed on July 1 to ensure streamlined and efficient administration.

Significant legal revisions had been made to usher in a transparent and open business environment.

The government was also advancing a national digital transformation strategy, reforming administrative procedures, developing e-government services and promoting innovation, the green economy and renewable energy.

The executives praised Vietnam’s development strategy, expressing confidence the country would become an increasingly attractive destination and promising sustained investment there.