During Vietnam's trade minister's trip to the United States, American and Vietnamese companies inked several agreements focused on energy and mineral resources.
Vietnamese enterprises are negotiating with US companies for purchasing American crude oil and liquefied natural gas (LNG), according to PetroVietnam Power—a company involved in one of these agreements and sending officials along with government ministers on this visit.
Nguyen Hong Dien, Vietnam's commerce minister, is in the U.S. to talk about enhancing trade collaboration.
In a statement, PetroVietnam Power announced that they have entered into an agreement with GE Vernova to purchase GE equipment intended for use in natural-gas powered electricity facilities.
The pacts were stated to be worth $4.15 billion.
Other agreements encompass those between PetroVietnam Gas and ConocoPhillips as well as Excelerate, alongside an arrangement involving Vietnamese refinery company Binh Son and Kellogg Brown & Root.
The mentioned agreements include deals between Vietnam’s fuel trader Petrolimex and organizations such as the U.S. Grains Council and the Renewable Fuels Association, along with an agreement from Growth Energy. Additionally, there is a minerals processing collaboration between Masan Group and the U.S. International Development Finance Corp., according to them.
Before a deadline set by U.S. President Donald Trump for next month, when federal agencies must finish thorough assessments of various trade matters—such as detailed examinations of ongoing U.S. trade imbalances—the trip was scheduled.