On June 11th, local time, Minister of Industry and Trade Nguyen Hong Dien met with leaders of two leading American corporations, Nike and Walmart, which have significant investment and business operations in Vietnam.
Minister of Industry and Trade meets with Nike representatives
During the meeting with Nike, Minister Dien expressed his appreciation for the company’s long-term commitment and responsible business practices in Vietnam, where approximately 50% of Nike’s global shoe production is manufactured, providing employment for over 450,000 people. He also shared concerns about the potential impact of current tax policies on Nike’s global supply chain and the interests of American consumers, offering suggestions to support Nike’s operations in Vietnam.
In the afternoon, the Minister met with Walmart, the world’s largest retailer, to discuss challenges they face in their business operations in Vietnam. He assured Walmart of his ministry’s collaboration with the Ministry of Finance and other relevant agencies to review and improve policies, ensuring transparency and alignment with international practices.
Emphasizing the role of the American business community in the context of the ongoing reciprocal trade agreement negotiations, the Minister urged Nike and Walmart to voice their strong support and encourage a fair, balanced, and sustainable agreement between Vietnam and the United States.
Earlier, Minister Dien also held meetings with Jenniffer M. Chan and Zoe Barinaga, Vice Presidents of Exxon Mobil Corporation.
Exxon Mobil’s representatives affirmed their confidence in Vietnam’s economic development and potential in Southeast Asia, citing this as the reason for their multiple projects in the country. They commended Vietnam’s recent reforms under the leadership of General Secretary To Lam and believed that the country’s positive changes and political stability would continue to attract investors.
The company pledged to convey positive messages about Vietnam to the White House, the United States Trade Representative (USTR), the Department of Commerce, and the Department of Energy to support Vietnam in its negotiations with the US.
Notably, the Minister also met with Senator Roger Marshall, a Republican from Kansas and an influential voice in American economic, trade, and agricultural circles. Senator Marshall praised Vietnam’s seriousness, proactive approach, and goodwill in the negotiations with the US. He promised to convey his positive sentiments to the President and relevant Cabinet members soon and looked forward to seeing positive outcomes from both sides.
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