Investments

President Lương Cường Meets with Leaders of Major U.S. Economic Corporations

On the morning of September 21st, local time (evening of the same day, Hanoi time), President Lương Cường and his spouse, along with the High-Level Vietnamese Delegation, arrived in Seattle, Washington, to engage in a series of bilateral activities.

Administrator

22 September, 2025

155

President Luong Cuong Meets with Costco CEO

During bilateral activities in Seattle, President Luong Cuong held a meeting with Ron Vachris, Chairman and CEO of Costco Wholesale Corporation.

President Luong Cuong meets with Ron Vachris, Chairman and CEO of Costco Wholesale Corporation

During the meeting, CEO Ron Vachris shared that Costco, as one of the largest retailers in the United States with over 870 warehouses globally, places significant emphasis on diversifying its supply chain and expanding its international sourcing network. He expressed a strong desire to continue close collaboration with key Vietnamese suppliers to deliver products tailored to the market, thereby maintaining long-term partnerships with Vietnamese entities. It is estimated that the value of Vietnamese goods imported into Costco’s supply chain could exceed $1 billion annually, with key products including textiles, footwear, furniture, seafood, cashews, and coffee.

To further drive growth and supply chain diversification, Mr. Vachris emphasized Costco’s interest in establishing a strategic cooperation framework to enhance production and supply capabilities. He also expressed willingness to share expertise and lead in implementing ESG (Environmental, Social, and Governance) standards.

President Luong Cuong commended Costco’s business achievements and its commitment to increasing imports of Vietnamese goods into its distribution network. He highlighted that Costco’s initiative to establish a strategic cooperation framework aligns with Vietnam’s strategic priority of deeper integration into global value chains, particularly in sectors such as agriculture, seafood, textiles, footwear, and light industry.

The President stated that Vietnam is ready to cooperate in green technology transfer, supporting Vietnamese businesses in improving production processes, reducing emissions, and adopting renewable energy to enhance product competitiveness.

With a population of nearly 100 million and a rapidly expanding consumer market, President Luong Cuong emphasized Vietnam’s potential as an attractive destination. He welcomed Costco’s proposal for an official presence and long-term investment in Vietnam.

Vietnam is committed to supporting Costco in implementing various investment models, from procurement centers and logistics systems to the potential establishment of a regional distribution hub, the President added.

President Luong Cuong meets with Stephanie Pope, President and CEO of Boeing Commercial Airplanes (BCA)

President Luong Cuong Meets with Boeing Leadership

As part of bilateral activities in Seattle, President Luong Cuong held a meeting with Stephanie Pope, President and CEO of Boeing Commercial Airplanes.

During the meeting, CEO Stephanie Pope welcomed President Luong Cuong and the Vietnamese delegation to Boeing’s headquarters in Seattle, describing it as a great honor and a testament to the strengthening partnership between the United States and Vietnam.

Discussing Boeing’s strategy and commitments to Vietnam, Ms. Pope affirmed her dedication to working with Vietnamese airline leaders to progressively implement agreements, further solidifying the cooperative relationship with Vietnamese partners.

She noted that Vietnam currently operates 17 Boeing aircraft through its national carrier, Vietnam Airlines, and Vietjet has signed contracts for over 200 aircraft, with the first deliveries scheduled soon. This underscores the importance of the Southeast Asian market to Boeing.

Echoing Ms. Pope’s sentiments, President Luong Cuong emphasized the robust development of Vietnam-U.S. relations, particularly following the elevation to a Comprehensive Strategic Partnership in 2023. With its dynamic economy, Vietnam is poised to become a key market for Boeing’s advanced aircraft.

The President praised Boeing’s business achievements and its cooperation with Vietnam, expressing satisfaction with the completion of new aircraft deliveries to Vietnamese partners. He urged Boeing to continue close coordination to ensure timely delivery of signed orders, with effective financing and operational plans.

Regarding Boeing’s commitment to Vietnam’s development, President Luong Cuong encouraged Boeing to explore investments in component manufacturing plants and establish a regional maintenance center linked to major airports. This would not only serve Vietnam but also the broader Southeast Asian region, while enabling Vietnamese businesses to integrate into Boeing’s global supply chain, fostering a sustainable, long-term partnership.

The President assured that Vietnam would provide all necessary support, in compliance with legal regulations, to ensure effective and sustainable investment by U.S. investors, including Boeing, in Vietnam.

Nhat Quang

– 08:35 22/09/2025