Mar 12, 2019 / 11:13

US enterprises show greater interest in Vietnam

The Hanoitimes - As the US – Vietnam relationship is growing strongly, the increasing presence of US companies in Vietnam shows their confidence in the country, VnExpress reported.

More US enterprises are interested in Vietnam compared to the last two years, especially when there has been a shift in the global value chain and Vietnam has emerged as a potential candidate for US investors among investment destinations, according to Michael Michalak, regional managing director for the US – ASEAN Business Council. 
Illustrative photo.
Illustrative photo.
As the US – Vietnam relations are growing strongly, the increasing presence of US companies in Vietnam shows their confidence in the country, Michalak said in a press meeting ahead of a series of events held by the US – ASEAN Business Council in Vietnam this week. 

According to Michalak, US enterprises have invested a total of US$300 billion in ASEAN over the last 15 years, and are willing to invest more, particularly in the context of digital economy development. 

A delegation of 50 major US enterprises are expected to come to Vietnam to attend these events, including an annual business event and a conference on healthcare – science – cyber security and data privacy. 

Additionally, the delegation is scheduled to meet with Prime Minister Nguyen Xuan Phuc and senior government officials to discuss various issues concerning business activities and policies. 

Alexander Feldman, president and CEO of the US – ASEAN Business Council, said 2019 would be the year with the highest number of US enterprises joining the program. 

Feldman said they would discuss with the Vietnamese government on regulations of listing securities on the stock market, taxation laws, market access capability and data storage. 

Feldman highly regarded Vietnam’s rapid economic growth and business opportunities in this growing market, adding that the objective of the program is to help Vietnam become a greater investment destination in the eyes of US enterprises. 

Both Michalak and Feldman agreed that Vietnam’s attractiveness comes from the government's determination to build a facilitating state, the people and the openness of the economy. 

The Vietnamese government is an ideal partner for enterprises, and willing to listen and act to create a friendly business environment, Feldman stressed, saying that the government has played a key role in the success of Vietnam, while the Vietnamese people are diligent, smart and creative. 

Feldman said he sees huge potential in Vietnam, not only in investment but also in trade and education. As such, the country is gradually becoming one of the top countries in ASEAN, he noted. 

Referring to a number of free trade agreements that Vietnam is a party to, Michalak said the country understands the benefits of global integration and spares no effort to ensure inclusive development in the economy.