Vietnam and Washington have a $3.5 billion two-way trade relationship. From Washington dairy, wheat, apples, cherries, and processed foods, Vietnam was Washington’s fifth-largest export market in 2023. As a key partner, it’s vital to have relationships that go beyond virtual meetings.

“Vietnam is a beautiful country and I was thrilled to see it and meet leaders in person,” Director Fong said.

Vietnam and Washington share many of the same economic and technological goals, Director Fong said. That includes advanced technology, renewable energy and clean technology, forestry, maritime, and a strong STEM workforce.

The United States and nine international partners launched the Just Energy Transition Partnership (JETP) with Vietnam in 2022 that provides investment and technical expertise to help Vietnam transition its energy sector and reach net zero greenhouse emissions by 2050.

Last September, the U.S. and Vietnam elevated to a Comprehensive Strategic Partnership symbolizing the deepening alignment of interests and trust between the two nations, including boosting technology transfer for Vietnam, fostering investment and trade, expanding people-to-people connections, combating climate change and advancing defense and security collaboration.

Of Vietnam's million consumers, half are under 30. It has one of the fastest growing economies in southeast Asia. Government officials and leaders from private industry and academic institutions from Hanoi to Ho Chi Minh City expressed an urgency to strengthen and expand collaborative relationships with Washington state.

“Our key sector growth priorities are well-aligned and offer many opportunities in clean technology, information technology and renewable energy,” Director Fong said. “Vietnam is changing, and it’s a unique moment that offers many interesting pathways and connections for Washington.”

The trade mission follows President Joe Biden’s visit in September 2023 to announce the elevation of the United States' relationship with Vietnam under the Vietnam-U.S. Comprehensive Strategic Partnership.

Director Fong spoke about the importance of Washington’s relationship with Vietnam during the Washington-Vietnam Business Reception on April 8, which was attended by the delegation, Vietnam’s Ministry of Industry and Trade and U.S. Ambassador Marc Knapper and representatives from the National Innovation Center and Ministry of Planning and Investment.

Director Fong highlighted the longstanding business, educational and cultural relationships, as well as our $3.5 billion trade ties that includes $450 million in Washington-grown agriculture products annually.

“We very much look forward to building those meaningful partnerships with you,” the Director said. “Washington state is an ocean away, located on the ‘upper left corner’ of the United States, but I hope that after this week’s mission we will be very much closer to one another.”

Other economic development-focused events included a business meeting and roundtable at the Vietnam Low-Emission Energy Program, a business perspectives and panel conversation, business-to-business matchmaking, and a Washington state luncheon and product promotion.

Other outreach and activities 

While in Vietnam, Director Fong and the other 43 members of the Washington delegation were able to advance state objectives, including celebrating our existing people-to-people and business-to-business relationships. 

Director Fong and the other Washington delegates – including leaders from education, agriculture, science and technology, and government – visited Hanoi and Ho Chi Minh City during the week-long, whirlwind trip. The delegation visited historic heritage sites and modern business parks – which further demonstrated the vividness of the nation.

“It’s striking to see UNESCO heritage sites miles away from cutting-edge, high-tech business parks, but that’s the reality in Vietnam,” Director Fong said. “I appreciate the balance they’ve struck between honoring their history and preparing for their future, and the world’s future.”

At Viettel, a domestic semiconductor company, representatives from Commerce's OEDC team discussed how to better cooperate on Information and Communications Technology advancements with Viettel.

Viettel has a 50% market share in Vietnam’s telecommunications industry, and Washington, with T-Mobile USA’s headquarters in Bellevue, has a 20% market share in the U.S., said Commerce’s ICT sector lead Joseph Williams.  

“We discussed how dynamic the telecommunications market is, and the incredibly innovative ecosystem,” Williams said. “We also discussed Viettel’s aspirations about building their own semiconductors.”

The U.S. is collaborating closely with Vietnam in its CHIPS Act outreach program to help Vietnam expand its worldwide semiconductor ecosystem, including production and distribution outposts. Vietnam ranks third in semiconductor exports to the U.S., and the U.S.-Vietnam Comprehensive Strategic Partnership included $2 million in funding from the U.S. to help Vietnam develop its semiconductor workforce.