Hoffman Iron & Steel has spent decades moving metal around the world. This year, we did something just as important as shipping a vessel full of scrap: we took our seat at the table at the AmCham Vietnam Business Summit in Hanoi – alongside U.S. Ambassador Marc Knapper, senior leaders from the Government of Vietnam including the Prime Minister and Deputy Prime Minister, and officials from the Ministry of Industry and Trade.
For a company whose core business is iron and steel scrap – the raw material that feeds new steel mills and new infrastructure – this summit was about much more than photo opportunities. It was about understanding where the U.S.–Vietnam relationship is headed, how policy will shape supply chains, and how Hoffman Iron & Steel can keep delivering reliable, sustainable metal flows for our customers in Vietnam and across Asia.
In this article, we’ll walk through what happened at the summit, why it matters for the steel and recycling industries, and what it means for our partners and customers who rely on us for consistent, compliant, and environmentally responsible scrap supply.
What Is the US–Vietnam / AmCham Vietnam Business Summit?
The US–Vietnam Business Summit is an annual high-level forum co-organized by:
- The Vietnam Chamber of Commerce and Industry (VCCI)
- The American Chamber of Commerce in Hanoi (AmCham Vietnam)
- The U.S. Chamber of Commerce in Washington, D.C.
The 8th US–Vietnam Business Summit was held in Hanoi on November 12, 2025, under the theme “A new era of development for mutually beneficial commercial relations.” It brought together senior Vietnamese leaders, including Deputy Prime Minister Bùi Thanh Sơn, officials from the Ministry of Industry and Trade, U.S. Ambassador Marc Knapper, and top executives from both U.S. and Vietnamese companies.
The summit builds on momentum from previous years. In 2024, Prime Minister Phạm Minh Chính personally attended the US–Vietnam Business Summit in Hanoi and addressed the business community, underscoring Vietnam’s commitment to creating a fair, transparent, and predictable investment environment. That event was also co-hosted by VCCI and AmCham, and featured Ambassador Knapper along with U.S. Secretary of State Antony Blinken and former U.S. Trade Representative Michael Froman participating virtually.
Taken together, these summits are not just “talk shops.” They are the main platform where both governments and the private sector align on:
- Trade and tariff policy
- Supply chain resilience
- Industrial and energy transition
- Digital transformation and innovation
- Workforce development
For companies like Hoffman Iron & Steel that operate at the intersection of recycling, supply chains, and manufacturing, having a voice in that room is critical.
What Leaders Said: Trust, Trade, and a Long-Term Partnership
Deputy Prime Minister: Win–Win, or Nothing
At the 2025 summit, Deputy Prime Minister Bùi Thanh Sơn emphasized that in a world full of uncertainty, “only trust can foster cooperation, only cooperation can lead to prosperity.” He described Vietnam–U.S. relations as a journey “from confrontation to partnership, from skepticism to trust, and from a painful past to a shared vision of comprehensive cooperation and prosperous development.”
His message to American companies was clear:
- Vietnam sees U.S. businesses as long-term partners
- The government wants fair, mutually beneficial cooperation in trade and investment
- The private sector is expected to be a driving force behind that cooperation
This is exactly the kind of long-horizon signal that matters if you are investing in ships, yards, equipment, and long-term supply contracts – which is precisely what Hoffman Iron & Steel does.
Ambassador Knapper: Private Sector at the Center
U.S. Ambassador Marc Knapper highlighted that U.S. and Vietnamese businesses have been central to the remarkable growth of the bilateral relationship over the past three decades. He reaffirmed that the U.S. remains committed to supporting Vietnam’s development goals in:
- Innovation and digital transformation
- Clean and renewable energy
- High-quality workforce development
- Resilient supply chains and industrial upgrading
Those priorities dovetail with the steel and scrap sectors in several ways:
- Steel is a backbone industry for infrastructure, renewable energy, and manufacturing.
- Scrap-based steelmaking reduces CO₂ emissions versus ore-based production.
- Efficient recycling and logistics are critical to lowering the carbon footprint of construction and manufacturing projects.
Ministry of Industry and Trade: Creating a Framework That Works
The Ministry of Industry and Trade (MoIT) plays a central role in Vietnam’s economic policy and trade negotiations. At the 8th summit, MoIT noted that the joint policy framework emerging between the U.S. and Vietnam will:
- Strengthen bilateral economic relations
- Facilitate broader market access for companies on both sides
- Provide more flexibility for enterprises
- Reduce the risk of trade conflicts
In parallel, MoIT has spoken widely about supply chain resilience and digitalization, pointing out that applying digital technologies and smart energy management can reduce operating costs by 10–15%, increase productivity by around 20%, and cut emissions.
For Hoffman Iron & Steel, this means the policy environment is moving in a direction that rewards companies that are:
- Transparent in their operations
- Serious about compliance
- Invested in cleaner, more efficient logistics
- Ready to use data and technology to improve performance
Hoffman Iron & Steel’s Long-Term Commitment to Vietnam
Hoffman Iron & Steel is a U.S.-based scrap iron and steel company specializing in international scrap sales and transportation, as well as domestic scrap procurement.
Over the years, Vietnam has become one of our most important markets. Public trade data show that Hoffman Iron & Steel has exported significant volumes of ferrous scrap (HS code 720449) to partners in Asia, with Vietnam and Indonesia among our top destination countries. A single shipment can approach 300,000 kilograms or more of steel scrap, representing a major feedstock for Vietnamese steel mills.
That long-term footprint means a few simple things:
- We are not “new” to Vietnam. We have been shipping to Vietnamese buyers for years, through ups and downs in global markets.
- We understand the operational realities. Ports, documentation, customs, environmental regulations – these are not theoretical topics for us; they are part of our daily work.
- We have skin in the game. Our growth is tied to Vietnam’s industrial growth and the success of our Vietnamese partners.
Attending the AmCham Vietnam Business Summit is a natural extension of that commitment. It lets us listen directly to policymakers, better understand how regulations are evolving, and ensure that our operations are aligned with both U.S. and Vietnamese priorities.
How the Summit’s Themes Connect to Steel Scrap and Recycling
You might ask: “This all sounds very policy-heavy. What does it have to do with steel scrap?” Quite a lot, actually.
1. Supply Chain Resilience and Diversification
Many speakers at the summit talked about the need for resilient, diversified supply chains – especially in strategic sectors like manufacturing, infrastructure, semiconductors, and energy.
Steel is the backbone of all of these sectors. Without a stable supply of raw materials – whether ore or scrap – there is no resilient supply chain. Scrap plays a unique role because:
- It allows mills to flex output without relying solely on imports of ore and coking coal.
- It can be shipped in flexible batch sizes and sourced from multiple regions.
- It is often more energy-efficient to melt compared with producing steel from virgin raw materials.
By maintaining strong U.S.–Vietnam scrap flows, Hoffman Iron & Steel directly contributes to the resilient supply chains that both governments say they want.
2. Clean Energy and Lower Emissions
Clean and renewable energy are recurring themes in U.S.–Vietnam cooperation, from high-level summits to sector-specific forums.
Scrap-based steelmaking is a practical, here-and-now climate solution:
- Using scrap in electric arc furnaces (EAFs) can significantly reduce CO₂ emissions per ton of steel compared with traditional blast furnace processes.
- Scrap supports circular economy goals by keeping valuable materials in use rather than in landfills.
- Efficient scrap logistics lower the overall embedded emissions in construction and manufacturing projects.
So when leaders at the summit talk about “green transformation” and “sustainable growth,” companies in the recycling and scrap sector are a quiet but critical part of that story.
3. Digital Transformation
Vietnam’s Ministry of Industry and Trade has emphasized digital transformation as a way for manufacturers and exporters to cut costs, improve quality, and integrate more deeply into global value chains.
For a company like Hoffman Iron & Steel, this is not just a buzzword. Digitalization in our space includes:
- Real-time tracking of shipments and documentation
- Data-driven quality control and grading
- Better forecasting of supply and demand
- Transparent reporting around environmental and compliance metrics
The more Vietnam digitizes its manufacturing and logistics sectors, the more value we can deliver by integrating our systems with mills, traders, and ports on the Vietnamese side.
What This Means for Hoffman Iron & Steel’s Partners and Customers
If you are a Vietnamese mill, trader, or industrial buyer, here is what our participation in the AmCham Vietnam Business Summit means in practical terms.
1. A Clear Signal of Long-Term Commitment
By engaging directly with policymakers, we are effectively saying:
“We are here for the long run. We are paying attention. We are prepared to invest to meet new standards and expectations.”
That applies to:
- Environmental and quality standards
- Documentation and traceability
- Contract structures that reflect evolving regulatory realities
2. Better Alignment with Policy and Regulation
As the U.S. and Vietnam deepen their Comprehensive Strategic Partnership, new policies will inevitably emerge – especially around tariffs, market access, and technical standards.
By being present in the room where these issues are discussed, Hoffman Iron & Steel can:
- Anticipate changes, rather than reacting at the last minute
- Work with partners to adjust contract terms and logistics paths
- Help keep supply moving even as the rules evolve
3. Stronger Focus on Sustainability
We heard loud and clear that both governments want:
- Lower-carbon growth
- Cleaner industrial processes
- More efficient use of resources
As a scrap specialist, sustainability is already baked into what we do. Post-summit, we are doubling down on:
- Sourcing practices that prioritize quality and compliance
- Logistics solutions that optimize routes and modes to reduce emissions
- Transparent communication around the environmental benefits of scrap-based steelmaking
4. More Opportunities for Collaboration
The summit is not just about government speeches – it is also about side meetings, informal conversations, and networking between companies that want to build something together.
For Vietnamese partners, this opens doors to:
- Explore long-term, multi-year scrap supply arrangements
- Co-develop logistics and port handling solutions
- Share data to improve forecasting and capacity planning
“Vietnam highly values win-win economic, commercial cooperation with US: Deputy PM” – VietnamPlus
- Overview of Deputy Prime Minister Bùi Thanh Sơn’s remarks at the 8th US–Vietnam Business Summit 2025, including his emphasis on trust, cooperation, and mutually beneficial economic ties. Vietnam+ (VietnamPlus)+1
“Vietnam and US strengthen strategic partnership at 8th Business Summit” – The Hanoi Times
- Details on Ambassador Marc Knapper’s comments about U.S. support for Vietnam’s development goals in innovation, clean energy, digital transformation, and workforce training, as well as MoIT’s view on the new joint framework. Hanoi Times+1
“Deputy PM calls on the U.S. business community to continue expanding investment and long-term presence in Vietnam” – World & Vietnam Report
- Covers the 8th U.S.–Vietnam Business Summit and underscores the role of U.S. businesses in Vietnam’s development and the opportunities in sectors like semiconductors, clean energy, and digital transformation. The World and Vietnam Report+1
“Vietnam, US work to promote favourable investment environment” – VietnamPlus
- Recap of the 7th US–Vietnam Business Summit in 2024, featuring Prime Minister Phạm Minh Chính and Ambassador Knapper, with focus on eliminating administrative barriers and improving the investment climate. Vietnam+ (VietnamPlus)+1
“US–Vietnam Business Summit: Strengthening economic ties” – The Hanoi Times
- Explores how trade has become the most successful aspect of economic cooperation in the Vietnam–U.S. partnership and provides useful trade statistics and historical context. Hanoi Times
“2025 Business Summit: Great Success” – AmCham Hanoi
- AmCham’s own recap of the 8th U.S.–Vietnam Business Summit, highlighting the participation of Deputy Prime Minister Bùi Thanh Sơn, Ambassador Knapper, and U.S. business leaders, and emphasizing the private sector’s role in the Comprehensive Strategic Partnership. amchamhanoi.com+1