AKP Phnom Penh, May 21, 2025 —

During a working visit to the US, Minister of Industry and Trade Nguyen Hong Dien held meetings with executives from several major US corporations, including Excelerate Energy, Lockheed Martin, SpaceX, and Google, in Washington D.C. on May 20.

In talks with the Excelerate Energy representative, Minister Dien affirmed Vietnam’s strong support for the company’s involvement in developing liquefied natural gas (LNG) infrastructure and markets. Vietnam plans to construct 14 gas-fired power plants in the coming years to ensure national energy security. LNG supply is therefore a top priority, with the Government having recently lowered import tariffs from 5% to 2% to encourage investment.

Peter Haas, Vice President of the US energy giant, proposed three key areas of cooperation – investing in LNG infrastructure, securing stable LNG supply, and forming joint ventures with Vietnamese partners, with a view to helping Vietnam become a regional LNG distribution hub within ASEAN. Excelerate Energy has already signed a memorandum of understanding (MoU) with PV Gas, a subsidiary of the Vietnam National Industry-Energy Group (Petrovietnam) for long-term LNG supply and development of floating storage and regasification unit (FSRU) infrastructure – areas that Dien said align closely with Vietnam’s future energy strategy.

Meeting with defence and aerospace giant Lockheed Martin, the minister praised the long-standing, reliable cooperation between the company and Vietnam, particularly in telecommunications, citing the success of the VINASAT-1 (2008) and VINASAT-2 (2012) satellite projects.

Dien noted that Vietnam is preparing to launch a new generation satellite by the end of 2026 and hopes to expand collaboration in aerospace, digital infrastructure, and the enhancement of national telecom and space sovereignty. The country is interested in exploring flexible cooperation models and participation in Lockheed Martin’s supply chains.

Nancy Ziuzin, Vice President for International Government Affairs at Lockheed Martin, lauded the Vietnamese market's potential and strategic role and affirmed the company’s commitment to supporting its development in key sectors such as aviation, aerospace, and defence technology.

Both sides agreed to establish regular cooperation mechanisms and promote technology transfer projects.

Meanwhile, in discussions with the Vietnamese minister, the SpaceX delegation, led by Vice President Tim Hughes, underscored the firm's strong commitment to developing Vietnam’s telecom infrastructure through the rollout of its Starlink satellite internet service. SpaceX plans to invest approximately 1.5 billion USD to expand broadband coverage, particularly in remote, border, and island areas. The company aims to build 10-15 ground stations in Vietnam in the initial phase.

Describing the Southeast Asian nation as a strategic market in Starlink’s global expansion roadmap, Tim Hughes said his company desires to work closely with the Vietnamese Government to support the local digital transformation, bridge the digital divide, and drive socio-economic growth through advanced technology.

Dien said the Vietnamese Government is willing to support the plan in terms of regulatory and policy facilitation. He encouraged SpaceX to broaden cooperation into areas such as IT, clean energy, technology transfer, and high-tech workforce training.

The Ministry of Industry and Trade pledged to support Google in connecting with local businesses, providing relevant information, and considering supportive policies on infrastructure, logistics, and taxation if the company decides to expand its investment or enhance its supply chain capabilities in Vietnam.

Google expressed gratitude for Vietnam’s ongoing support of its operations and affirmed its commitment to accompany the country during ongoing trade negotiations with the US.

At all meetings, Minister Dien asked the US corporate leaders to convey Vietnam's message to the administration of President Donald Trump: the two countries’ comprehensive strategic partnership is creating momentum for US businesses to thrive in Vietnam. Strengthening long-term cooperation will yield strategic benefits, help balance trade relations fairly and sustainably, and Vietnam should be treated as a priority trading partner.

Dien also called for joint efforts to resolve existing economic and trade issues, expedite the US’s recognition of Vietnam as a market economy, and remove the country from export control lists (D1, D3) that limit access to high-tech products. Such measures, he noted, would bring mutual benefits in both the short and long term.

These working sessions were held in conjunction with the second technical round of negotiations for the Vietnam – US reciprocal trade agreement, taking place in the US capital from May 19 to 22.

AKP-VNA