The two U.S. energy giants delivered these messages during meetings with Minister of Industry and Trade Le Manh Hung as part of his recent working trip to the U.S.

GE Vernova seeks to expand presence in Vietnam

Minister Hung and GE Vernova executives discussed directions for promoting cooperation in energy, high-tech industries, supply chains, and opportunities to expand the firm’s investment and business activities in Vietnam.

GE Vernova’s leadership said Vietnam is among a select group of markets that the company prioritizes globally and is also a key strategic partner for GE in Asia.

The company plans to further expand its presence in Vietnam through the supply of gas turbine technologies and advanced power transmission equipment. GE Vernova also aims to promote technology transfer, workforce training, and the development of Vietnam’s energy industry ecosystem.

Beyond the energy sector, GE Vernova expressed interest in strengthening cooperation with Vietnam in digital transformation, supply chain development, and strategic minerals.

The company pledged to coordinate with Vietnamese authorities to address challenges, accelerate project implementation, and continue sharing with relevant U.S. agencies the results of GE’s cooperation with Vietnam.

At the meeting, Minister Hung praised GE Vernova’s contributions to Vietnam’s energy sector. GE technologies and equipment are currently involved in several key power projects, including the Nhon Trach 3 and Nhon Trach 4 LNG-fired power plants in the southern city of Dong Nai.

The minister called on GE Vernova to continue expanding investment, prioritize equipment supply for gas-fired power projects, accelerate technology transfer, develop human resources and domestic supply chains, and participate more deeply in large-scale energy infrastructure and industrial projects in Vietnam.

ExxonMobil reaffirms long-term commitment

At the meeting with ExxonMobil executives, Hung highlighted the company’s contributions to Vietnam’s energy sector and emphasized that ensuring energy security remains one of Vietnam’s strategic priorities.

The minister called on ExxonMobil to continue partnering with Vietnam across the entire energy value chain, accelerate existing cooperation projects, and explore new investment opportunities in areas including oil and gas, LNG, petrochemicals, and energy infrastructure.

For its part, ExxonMobil said Vietnam remains an important market in the company’s development strategy. The company updated the Vietnamese side on the progress of its projects in the country and said it is reviewing its investment portfolio based on developments in global energy and petrochemical markets.

ExxonMobil executives emphasized that the review is part of normal investment management activities and does not change the company’s long-term commitment to Vietnam. The firm desires to further expand cooperation with Vietnam in energy, trade, and investment, they said.

The two sides agreed to maintain regular dialogue, promote ongoing projects, and explore new cooperation opportunities.

Calling on US businesses to expand investment

The meetings with GE Vernova and ExxonMobil were among a series of activities by Minister Hung with US business associations and communities.

On July 16, the minister and representatives from several ministries and agencies met with leaders of the U.S. Chamber of Commerce, discussing cooperation in artificial intelligence, the digital economy, digital trade, intellectual property, energy, health care, and cybersecurity.

Hung affirmed that the Vietnamese government will continue improving the business environment, promoting energy transition and innovation, and building a stable, transparent, and predictable economic and trade cooperation framework with the U.S.

At a dialogue with the US-ASEAN Business Council, the minister called on U.S. companies to continue expanding investment, increasing technology transfer and developing supply chains in Vietnam.

The event was attended by representatives of major U.S. companies, including Apple, Meta, Coca-Cola, Boeing, Qualcomm, Visa, Dow, Procter & Gamble, Target, and Excelerate Energy. Their representatives acknowledged Vietnam’s efforts to improve its investment environment and proposed collaborations in technology, energy, aviation, e-commerce, logistics, and supply chains.

Vietnam calls on US to promote stable trade framework

During his stay, Minister of Industry and Trade Le Manh Hung held meetings with U.S. Secretary of Commerce Howard Lutnick, Deputy Secretary of State Jacob Helberg, and Senator Steve Daines.

He proposed that the two sides soon conclude negotiations to establish a stable, predictable, and mutually beneficial economic and trade framework. He also called on the U.S. to consider recognizing Vietnam as a market economy, remove it from export control lists D1 and D3, and recognize equivalence for the remaining 11 fisheries occupations under the Marine Mammal Protection Act.

The U.S. side expressed support for advancing a bilateral trade agreement and expanding cooperation in high technology, artificial intelligence, semiconductors, energy, innovation, and supply chains.