Vietnamese and American companies have entered into memorandums of understanding (MoUs) aimed at collaboration in the fields of energy, artificial intelligence, and data center development, as announced by the Vietnamese government on Tuesday.

These agreements were formalized during a business forum held in the United States, according to a government statement.

Among the MoUs is one focused on energy technology transfer, signed by Vietnam's state-owned PetroVietnam and Kellogg Brown & Root. Additionally, there is an agreement for LNG cooperation between PetroVietnam's subsidiary PTSC and Excelerate Energy, as well as a partnership for AI and data center development between Sovico Group and Supermicro.

Lam expressed optimism about the potential for further collaboration between the two nations, indicating that Vietnam aspires for the US to become its largest source of foreign investment.

He also mentioned his anticipation that the US government would soon recognize Vietnam as a market economy, as stated in the announcement.

Last month, the US Commerce Department reiterated its classification of Vietnam as a non-market economy. Should Vietnam submit another application, it could take US regulators several months to reach a conclusion.

Vietnam has consistently sought this classification upgrade, which would help mitigate the punitive anti-dumping duties imposed on non-market economies perceived to have significant state influence.