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Vietnam remains on the path of recovery driven by the turnaround in the global electronics cycle.

Thanks to the efforts of the political system, the people, businesses, and international friends, Vietnam has achieved significant and comprehensive results across all sectors.

Over the past month, 10 out of 11 major consumer goods categories saw price increases.

Bilateral trade between the two countries amounted to US$38.6 billion in the first four months of 2024, with the US remaining Vietnam's largest export market.

Singapore is set to assist Vietnam with energy transition, improve electricity connectivity, and foster digital transformation in key domains such as banking and finance, e-commerce, land and population management.

China now ranks sixth of 146 countries investing in Vietnam.

US upgrading of Vietnam to market economy status would improve economic and trade relations, bringing tangible benefits to the businesses and people of both countries.

Given the overall 6% growth projection for the year, the 5.7% growth in Q1 is positive as Vietnam tends to see an upward growth trend in the coming quarters and throughout the year.

Given global uncertainties, policies in 2024 would therefore need to combine short-term growth support measures with long-term structural remedies to promote sustainable growth

Manufacturing for export is regaining momentum, alongside a promising outlook for long-term foreign direct investment.

The scope of cooperation includes not only investment but also technology transfer, employee training, and the exploration of other markets.

The US expresses its strong support for Vietnam's development in high-tech sectors, energy transition, climate change adaptation, and dealing with the legacy of war.

Farms in Hanoi are thriving, but there are deficiencies in scale and planning that have prevented the full potential of the agricultural economy from being realized.

Immediate efforts are required from the outset of the year to ensure that 2024 will be a year of accelerated and robust economic development.

Many international organizations have predicted that Vietnam's economy in 2024 could outperform that of 2023.

This is a matter of great concern for both countries' leadership.