US businesses keen on investment opportunities in Vietnam
| |
An assembly line of electric wires for car exports to the US market. (Photo:VNA) |
The teleconference saw the Vietnamese Ambassador to the US Ha Kim Ngoc share some of the huge opportunities that exist for US businesses when investing in the ASEAN bloc and Vietnam in particular in the post-novel coronavirus (COVID-19) period.
The Vietnamese diplomat highlighted some of the favourable factors that US investors can enjoy in the country, including positive developments in the Vietnam-US comprehensive partnership and the enforcement of a series of free trade agreements.
In addition, other aspects such as the country’s success in containing the COVID-19 pandemic, the Government's determination to attract foreign investment, as well as the nation’s key role in restructuring the global supply chain, can all be viewed as positive factors.
Prime Minister Nguyen Xuan Phuc has recently proposed setting up a task force aimed at promoting foreign investment, adding that the nation will resume some commercial routes and facilitate entry for foreign experts, investors, and skilled workers in the near future, Ambassador Ngoc said.
The Southeast Asian nation is also discussing other issues with the US and other regional countries, including launching economic co-operation initiatives, such as the Economic Prosperity Network, with a view to encouraging the implementation of co-operative projects to launch high-tech products and develop the local digital economy.
| |
Vietnamese Ambassador to the US Ha Kim Ngoc, USABC President Alex Feldman and representatives of US businesses Ernst & Young, PC Johnson and UPS at the teleconference |
Alex Feldman, USABC President, along with other US business representatives highlighted the investment opportunities that exist within ASEAN and Vietnam, the crucial position of ASEAN in the Indo-Pacific region, as well as the bloc becoming the fourth largest trading partner and the leading investment destination for US investors in the region.
Moreover, US businesses expressed their belief that financiers will consider the Governments’ capability in responding to external shocks, adding that the country’s COVID-19 prevention and control measures, along with economic recovery efforts, have been received positively by foreign investors.
Most notably, several US firms such as UPS and SC Johnson unveiled plans to expand business investment in Vietnam in the near future.
Furthermore, other US enterprises expressed a desire for the country and other ASEAN member states to continue improving the business investment climate, simplifying administrative procedures, increasing transparency, and devising policies aimed at supporting companies that focus on the development of human resources and infrastructure.
USABC added that it is ready to co-ordinate with Vietnam to successfully organise the Indo-Pacific Business Forum in the country by the end of the year.
Related News
Saigontex 2023 attracts over 1,300 domestic, foreign businesses
14:01 | 06/04/2023 Import-Export
Vietnam ready to export first batch of sweet potatoes to China
13:57 | 06/04/2023 Anti-Smuggling
Australian Governor-General wraps up State visit to Vietnam
13:53 | 06/04/2023 Headlines
Vietnam a potential market for French businesses, investors: experts
16:12 | 05/04/2023 Import-Export
Latest News
Mong Cai international border gate sees strong recovery
16:15 | 05/04/2023 Import-Export
Import and export turnover across Cao Bang prospers but still exists difficulties
10:25 | 05/04/2023 Import-Export
Cashew industry strives to "get on the shelves of world supermarkets"
10:24 | 05/04/2023 Import-Export
HCM City’s industrial production index down 0.9% in Q1
14:47 | 04/04/2023 Import-Export
More News
Fisheries exports estimated at 1.85 billion USD in Q1
14:45 | 04/04/2023 Import-Export
Quang Ninh aims to attract quality FDI inflows
14:43 | 04/04/2023 Import-Export
Exports face many difficulties
13:29 | 04/04/2023 Import-Export
Manufacturing enterprises increase their competitiveness thanks to digital transformation
13:28 | 04/04/2023 Import-Export
32nd Việt Nam Expo promises to boost business linkages
14:19 | 03/04/2023 Import-Export
Prevention of price risks before news that Indonesia increases rice imports in reserve
09:52 | 03/04/2023 Import-Export
Japanese investors highly appreciate Vietnamese property market
17:41 | 02/04/2023 Import-Export
Seafood enterprises propose to remove obstacles from exporting to the EU
10:34 | 02/04/2023 Import-Export
Need to effectively use tools to prevent exchange rate risks in import and export field
10:32 | 02/04/2023 Import-Export
Your care
The system has not recorded your reading habits.
Please Login/Register so that the system can provide articles according to your reading needs.
Saigontex 2023 attracts over 1,300 domestic, foreign businesses
14:01 | 06/04/2023 Import-Export
Mong Cai international border gate sees strong recovery
16:15 | 05/04/2023 Import-Export
Vietnam a potential market for French businesses, investors: experts
16:12 | 05/04/2023 Import-Export
Import and export turnover across Cao Bang prospers but still exists difficulties
10:25 | 05/04/2023 Import-Export
Cashew industry strives to "get on the shelves of world supermarkets"
10:24 | 05/04/2023 Import-Export