The number of foreign trade representative visits to Vietnam duringthe first half of the year are an auspicious sign US investment in thecountry is not about to wane anytime soon, radio The Voice of Vietnam(VOV) reported, citing comments from economic experts.
Early thisyear, the US-ASEAN Business Council organised a fact-finding tour ofVietnam for nearly 80 managers from 33 US leading internationalcompanies.
A month later, the Trade Development Alliance ofGreater Seattle sent more than 20 foreign trade representatives frominternational giants like Microsoft, Boeing, Virginia Manson MedicalCentre, Global Reach K.K, Washington University, on fact finding toursto Vietnam.
In early June, a US business delegation led by USSecretary of Commerce Penny Pritzker visited Vietnam. Secretary Pritzkerwas clearly on a mission to convey the message that Vietnam is animportant trade partner of the US.
Pritzker explicitly said manyUS firms are interested in starting new businesses or expanding theircurrent operations in the country.
Director of the ForeignInvestment Agency under the Ministry of Planning and Investment (MoIP)Do Nhat Hoang spoke about a renewed investment inflow into the nationcoming from US international companies.
Hoang specifically citedExxon Mobil’s 20 billion USD electric-gas project and Good Choice’s 1.29billion USD hotel and entertainment resort complex in Ba Ria-Vung Tauprovince as two significant examples of the renewed influx of USinvestment.
Intel Vietnam also recently revealed that the USIntel group is closing down its assembly operations in Costa Rica andrelocating it to Vietnam in the upcoming year.
Robert Tran,Director General in charge of the US and Asia-Pacific markets ofCanadian Consultancy Group Robenny, said most US major economic groupshave come to Vietnam. Within a year of setting up representative officesin Vietnam, Walmart has exported thousands of containers of Vietnamesegoods. Meanwhile, JCPenney has operated silently in Vietnam for severalyears with good results.
US giants’ investment to Vietnam inrecent years have paved the way for their small-and medium-sizedenterprises (SMEs) counterparts to fully exploit advantages broughtabout by the Trans-Pacific Partnership (TPP) when it officially comesinto effect next year.
Robert Tran said large-scale cooperativeprojects in energy, aviation and heavy industry are also bullish on theVietnamese market, making inroads investing in agriculture, tourism,education and finance.
Nguyen Nam Son, Managing Director ofVietnam Capital Partners, said SMEs from the US often invest throughprivate investment funds.
For example, Kohlberg Kravis Roberts(KKR), a leading global investment firm, has poured more than 5.2billion USD into the Asia-Pacific region, including nearly 360 millionUSD into Masan Group in Vietnam, principally targeting consumption andretail business investments.
Texas Pacific Group (TPG) has pumpedits investment capital into Vietnamese agricultural business and owned40 percent of shares of Cam Con Co (Stork Mash) brand name.
Manycompanies eyed the Vietnamese market 5-6 years ago but they had to halttheir investment due to global economic downturn. The increasing numberof visits to Vietnam demonstrates that they are preparing to return tothe country, Son added.
To take full advantage and attractinvestment, localities must have a clear strategy, said Robert Tran. Forexample, Ho Chi Minh City will concentrate specifically on high-tech,finance, and education, Tran said.
The US is among the top tenforeign investors in Vietnam. Over the past 20 years, US firms havepumped more than 11 billion USD into nearly 700 projects and the trendshows no signs of diminishing.
US companies are queuing up toinvest in the nation in everything from infrastructure and thermalelectricity to agriculture and organising a non-stop series of visits toVietnam to seek the tremendous opportunities it offers.-VNA
Early thisyear, the US-ASEAN Business Council organised a fact-finding tour ofVietnam for nearly 80 managers from 33 US leading internationalcompanies.
A month later, the Trade Development Alliance ofGreater Seattle sent more than 20 foreign trade representatives frominternational giants like Microsoft, Boeing, Virginia Manson MedicalCentre, Global Reach K.K, Washington University, on fact finding toursto Vietnam.
In early June, a US business delegation led by USSecretary of Commerce Penny Pritzker visited Vietnam. Secretary Pritzkerwas clearly on a mission to convey the message that Vietnam is animportant trade partner of the US.
Pritzker explicitly said manyUS firms are interested in starting new businesses or expanding theircurrent operations in the country.
Director of the ForeignInvestment Agency under the Ministry of Planning and Investment (MoIP)Do Nhat Hoang spoke about a renewed investment inflow into the nationcoming from US international companies.
Hoang specifically citedExxon Mobil’s 20 billion USD electric-gas project and Good Choice’s 1.29billion USD hotel and entertainment resort complex in Ba Ria-Vung Tauprovince as two significant examples of the renewed influx of USinvestment.
Intel Vietnam also recently revealed that the USIntel group is closing down its assembly operations in Costa Rica andrelocating it to Vietnam in the upcoming year.
Robert Tran,Director General in charge of the US and Asia-Pacific markets ofCanadian Consultancy Group Robenny, said most US major economic groupshave come to Vietnam. Within a year of setting up representative officesin Vietnam, Walmart has exported thousands of containers of Vietnamesegoods. Meanwhile, JCPenney has operated silently in Vietnam for severalyears with good results.
US giants’ investment to Vietnam inrecent years have paved the way for their small-and medium-sizedenterprises (SMEs) counterparts to fully exploit advantages broughtabout by the Trans-Pacific Partnership (TPP) when it officially comesinto effect next year.
Robert Tran said large-scale cooperativeprojects in energy, aviation and heavy industry are also bullish on theVietnamese market, making inroads investing in agriculture, tourism,education and finance.
Nguyen Nam Son, Managing Director ofVietnam Capital Partners, said SMEs from the US often invest throughprivate investment funds.
For example, Kohlberg Kravis Roberts(KKR), a leading global investment firm, has poured more than 5.2billion USD into the Asia-Pacific region, including nearly 360 millionUSD into Masan Group in Vietnam, principally targeting consumption andretail business investments.
Texas Pacific Group (TPG) has pumpedits investment capital into Vietnamese agricultural business and owned40 percent of shares of Cam Con Co (Stork Mash) brand name.
Manycompanies eyed the Vietnamese market 5-6 years ago but they had to halttheir investment due to global economic downturn. The increasing numberof visits to Vietnam demonstrates that they are preparing to return tothe country, Son added.
To take full advantage and attractinvestment, localities must have a clear strategy, said Robert Tran. Forexample, Ho Chi Minh City will concentrate specifically on high-tech,finance, and education, Tran said.
The US is among the top tenforeign investors in Vietnam. Over the past 20 years, US firms havepumped more than 11 billion USD into nearly 700 projects and the trendshows no signs of diminishing.
US companies are queuing up toinvest in the nation in everything from infrastructure and thermalelectricity to agriculture and organising a non-stop series of visits toVietnam to seek the tremendous opportunities it offers.-VNA
