This is the largest US trade delegation ever to Vietnam. The delegation to Vietnam this time includes both participating businesses and new participants for the first time.
In 3 days from March 21 to 23, 50 leading US enterprises will come to Vietnam, under the program of the US - ASEAN Business Council (USABC), to discuss investment opportunities and business cooperation. .
Two-way trade between Vietnam and the US increased sharply. Illustrations
The delegation to Vietnam this time includes both participating businesses and new participants for the first time. These enterprises operating in the fields of defense, technology, energy, finance, semiconductor, pharmaceutical... will work in Vietnam to discuss business cooperation.
There are big names like Boeing, SpaceX, Netflix, Pfizer, Abbott, Citibank, Meta, Amazon ... or companies that have been doing business and manufacturing in Vietnam such as Coca-Cola, PepsiCo, Apple...
As for the names that already have a business presence or production in Vietnam such as Apple, Coca-Cola and PepsiCo, they can look forward to further expansion plans.
This is the largest US trade delegation ever to Vietnam," said Vu Tu Thanh, representative of the US-ASEAN Business Council in Vietnam. According to the program, businesses will meet the Prime Minister, the President of the National Assembly and some ministers.
Currently, some companies rate Vietnam as a growing center of production and service provision for consumers with an economic growth rate of more than 8% in 2022. Among these is SpaceX, which is currently operating in Vietnam. search the market for satellite Internet services in Vietnam and other countries in the region.
In addition, participating in the program of the US-ASEAN Business Council are semiconductor companies, pharmaceutical companies Pfizer and Johnson & Johnson, medical device manufacturer Abbott, financial company Visa , Citibank, cloud technology firms Meta and Amazon Web Services.
Since 1995 until now, a series of US multinational companies have come to Vietnam to lay the first foundation for long-term development opportunities such as Pepsico, Coca-Cola, Intel, P&G, Procter & Gamble (P&G), General Electric (GE)...
According to the Ministry of Planning and Investment's data on foreign direct investment, in 2022, US businesses invested more than 748 million USD in Vietnam, ranking 8th out of 108 countries and territories investing in Vietnam. invest in Vietnam in 2022.
In the first two months of 2023 alone, the total newly registered capital, adjusted and contributed capital to buy shares and buy capital contributions from US investors reached 11.68 million USD. In which, there are 8 newly licensed projects with a total newly registered capital of more than 7 million USD; 11 projects contributed capital to buy shares, with the value of contributed capital reaching about 4.7 million USD.
Up to now, US investors have had more than 1,200 projects in Vietnam, with a total registered capital of about 11.4 billion USD, ranking 11th among countries with investment capital in Vietnam.
The US is currently leading Vietnam's export markets. Meanwhile, Vietnam has become a major trading partner of the US and an important link in the supply chain of many goods to the US market.
Among Vietnam's exports to the US, agricultural products, aquatic products, furniture, decoration... occupy a very important position. Because these are the strong commodity groups of Vietnam and the US with great demand.
AmCham Vietnam CEO in Ho Chi Minh City James Ollen said that in the eyes of US investors, Vietnam is a top destination for multinational companies looking to diversify their supply chains. The AmCham Vietnam representative also said that businesses always want to expand their business investments in Vietnam and the most important factor for a favorable investment environment is a fair and transparent legal environment. transparent, predictable and streamlined.
"There are two areas that we will focus on discussing with our Vietnamese partners. The first is energy transformation, so that Vietnam can reach its net zero emissions target by 2050. The second is digital transformation, which This is what is happening and will put Vietnam in a new position in the digital competition. The US has many businesses that have strengths in this field and are ready to become partners of Vietnam. become an active member in the global supply chain, in very important fields, such as electronics, such as the fact that Intel has an electronic chip factory in Vietnam" - Chairman, General Director of the Council Business America - ASEAN Ted Osius information.
According to Economic & Urban Electricity Newspaper