According to Vietnam’s Ministry of Industry and Trade, on June 9, 2025, Minister Nguyen Hong Dien met with Mr. Jeffrey Pearlman, Chairman of Warburg Pincus and the US-ASEAN Business Council (USABC), as well as leaders from the American Apparel and Footwear Association (AAFA) and prominent companies such as Gap, Levis Strauss, Under Armour, and Hanes Brands.
WARBURG PINCUS’ LONG-TERM INVESTMENT COMMITMENT
During the meeting with Mr. Jeffrey Pearlman, Minister Nguyen Hong Dien affirmed that the United States is one of Vietnam’s most important economic partners. He also requested USABC’s support in negotiating a reciprocal trade agreement between the two countries. Additionally, he emphasized the need to promote Vietnam’s investment and business potential. This strategic move aims to bring the trade relationship between Vietnam and the United States closer to a balanced and long-term foundation.
Mr. Pearlman appreciated Vietnam’s economic development prospects and confirmed that Vietnam is Warburg Pincus’ second-largest market in Asia.
With a long-term investment commitment, Mr. Pearlman pledged to work with senior US officials to recommend three key points:
First, support a balanced and harmonious trade agreement between Vietnam and the United States.
Second, strengthen economic cooperation with ASEAN, a region of strategic importance to the United States.
Third, reassess the current trade deficit in a way that objectively reflects the differences in economic development between the two countries.
At the meeting, USABC also expressed its commitment to accompany Vietnam in the fields of energy, industry, green transition, digital transformation, logistics, and supply chain development. They also pledged to support Vietnam in maintaining macroeconomic stability and sustainable development.
AMERICAN APPAREL COMPANIES WANT TO MAINTAIN SUPPLY CHAINS IN VIETNAM
On the same day, Minister Nguyen Hong Dien worked with leaders from the American Apparel and Footwear Association (AAFA) and prominent companies such as Gap, Levis Strauss, Under Armour, and Hanes Brands.
Appreciating AAFA’s role in connecting businesses from both countries, the Minister emphasized, “Vietnam is ready to be a trusted partner in the global supply chain, always striving to build a fair, highly adaptive, and sustainably developing business environment with enterprises.”
The Minister requested the associations and corporations to advocate to the Trump administration for support in three critical areas: Recognizing Vietnam as a market economy; Removing Vietnam from the D1 and D3 lists regarding high-tech export restrictions; and Considering Vietnam as a preferred trading partner based on the established Comprehensive Strategic Partnership.
Vietnam’s key message was clearly conveyed: “Cooperating with Vietnam is not only an economically wise choice but also brings long-term strategic benefits to the United States.”
Minister Nguyen Hong Dien’s visit not only promotes trade relations between Vietnam and the United States but also opens up numerous investment opportunities, improves Vietnam’s position in the global supply chain, and advances the process of fair and effective economic integration. This is the time for the United States to recognize Vietnam as a partner, not just at the negotiating table but also in its new global strategy.
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For over a decade, every September, the Vietnamese market witnessed a bustling scene of ‘iPhone hunting’. Merchants would fly to Singapore and Hong Kong to bring back the latest iPhones, creating an adventurous ‘culture’ for the tech-savvy community. However, this scenario will soon become a thing of the past.
