KEY POINTS
- US and Vietnamese firms will announce dozens of mostly non-binding agreements next week as leader To Lam visits New York, part of Hanoi’s bid to ease US tariff threats.
- Energy deals feature Murphy Oil, Chevron and ExxonMobil with Vietnamese state firms, while Vietjet plans to lease up to 22 jets and add SpaceX Starlink on 120 aircraft.
- To Lam aims to advance a US-Vietnam trade deal, though a meeting with President Trump remains uncertain.
US and Vietnamese companies will announce a string of agreements next week across energy, tech, aviation and finance as Vietnam’s leader To Lam visits New York, according to officials and two documents reviewed by Reuters.
The deals form part of Hanoi’s wider strategy. Specifically, many of the commercial agreements will likely stay non-binding, part of a monthslong effort to placate Washington as the Trump administration threatens new tariffs on the export-reliant nation. Moreover, one internal planning note lists 29 agreements that companies could unveil on September 23 at a New York business conference.
Energy and trade in focus
Energy features prominently. According to the documents, Murphy Oil and Chevron will announce agreements with state-owned Petrovietnam, while ExxonMobil plans an accord with the country’s second-largest refinery. Furthermore, Chevron signed a non-binding oil supply deal with that refinery in February, though no purchase followed, and ExxonMobil operates Vietnam’s largest, still-untapped gas field.
However, the bigger prize is trade. Specifically, officials said To Lam’s trip aims to advance talks toward a US-Vietnam trade deal negotiated for over a year, and possibly to seal one. Nevertheless, a meeting with President Donald Trump remains uncertain, with his schedule unconfirmed.
Aviation, tech and finance deals
Beyond energy, the list spans several sectors. Specifically, private airline Vietjet plans to lease up to 22 planes, including 17 Boeing 737s and five Airbus A321neos, and to sign a deal for SpaceX’s Starlink internet on 120 aircraft. Additionally, it plans agreements with US jet-engine maintenance firms.
Tech and finance also feature. According to the provisional list, Meta may sign with Vietnam’s culture ministry and Qualcomm with telecom firm VNPT, while Visa, Mastercard and Citibank plan deals with local partners. Ultimately, the flurry underscores how Vietnam is using corporate tie-ups to court Washington and defuse tariff pressure, even as key political meetings stay unconfirmed.
