The American “Eagle” came to Vietnam and the story “never been so busy”
It is known that from March 21-23, representatives of 52 US companies and corporations, including defense, pharmaceutical, technology firms, etc., were present in Vietnam to discuss investment opportunities. business and investment organization organized by USABC.
Vietnam is a destination for opportunity
American companies are seeing the trend of continuing to expand their production centers and global supply chains in Vietnam in the semiconductor, fast-moving consumer goods (FMCG), toys, furniture, and food industries. products, digital economy, creative economy, banking and financial services, and healthcare. The aerospace, defense and security sectors also saw renewed interest from both sides.
According to Ted Osius, President and CEO of USABC, they have never been as busy as they are now. “Our service has never been in this high demand. Many companies may not have been exposed to Vietnam in the past but are quite interested. Vietnam’s 8% GDP growth in 2022 has attracted a lot of investors’ attention.”
In particular, Mr. Ted Osius shared about recent unbelievable exchanges when USABC representatives of other ASEAN countries said that “they have to hurry because they have to compete with Vietnam”. This is not what people said a few decades ago, but now they are seeing Vietnam as a destination for growth and opportunity. That’s why these companies are here.
Reportedly, in this activity, senior leaders from 52 US companies will meet Prime Minister Pham Minh Chinh, National Assembly Chairman Vuong Dinh Hue, and leaders of many ministries and sectors to discuss issues related to the United States. sales, supply and investment policies and opportunities.
Mr. Rafael Frankel, Meta Director of Asia – Pacific region, parent company of Facebook, shared that this is the second time, since the COVID-19 pandemic appeared, he has been in Vietnam. He highly appreciates the hard work and quality of Vietnamese workers. “Vietnam is one of the countries in which we believe in the future of development and as evidenced by the very good cooperation results over the years,” he shared and wished to contribute to the development of the country. Vietnam’s digital economy and innovation in the coming time.
A representative of America’s leading energy corporation AES said that energy continues to be an important strategic area in the cooperation relationship between the two countries. Progress in large-scale energy projects by AES and other member companies will contribute to the development of Vietnam.
Some large enterprises present in Vietnam this time include Boeing, Bell, UPS, Coca Cola… According to Boeing, another area of interest is sustainable aviation. Discussions will focus on decarbonizing methods for the aviation industry, towards a renewable energy transition that delivers sustainable operational performance.
How to take advantage of the opportunity?
Squall Wang, Managing Director of UPS Vietnam, said that UPS Vietnam has been connecting businesses in Vietnam with customers and opportunities around the world for the past few decades. UPS looks forward to continuing to work with policymakers and partners across the logistics industry to build on our achievements and create an environment for trade, sustainable growth, and mutual benefit over the long term. .
Commenting to VnBusiness about the above event, Mr. Nguyen Van Toan, Vice Chairman of the Association of Foreign Investment Enterprises in Vietnam (VAFIE), assessed this as an opportunity for Vietnam to welcome a large investment wave from the US. This big trip comes from the fact that the US is very interested in Vietnam. For a long time, the flow of capital from the US to invest in Vietnam is not small, but it has to go through a third country to enter Vietnam, although this has not been specific statistics. .
According to Vice President of VAFIE, the advantages that Vietnam has is a stable economic and political situation, the Government of Vietnam is also researching new preferential policies when the global minimum tax rule applies – in many American “eagles” will be affected… This is what makes US investors interested in Vietnam, and at the same time explores the business investment environment.
“This is an opportunity as well as a challenge,” said Toan, because when applying the global minimum tax, it is clear that we no longer have tax tools, we must improve the business investment environment to meet a best way for foreign investors.
At the same time, American investors certainly not only come to Vietnam, but also have similar moves, exploring the investment environment with countries in the region such as Indonesia, Philippines, India, not only Vietnam. . “American businesses are looking for suppliers, where to invest to create a new value chain. Vietnam is one of the brightest candidates who must seize the opportunity,” Toan emphasized.
Accordingly, VAFIE Vice President said that the weaknesses that Vietnam needs to overcome are weak links between Vietnamese and foreign enterprises, underdeveloped supporting industries, and Vietnamese enterprises must grow up to “catch up”. hands” with foreign enterprises – self-study technology for cooperation. In addition, the factors of infrastructure, logistics, quality of human resources, transparency in the administrative system… need to be improved.
“For US investors, transparency in the business investment environment is very important, which is to control corruption when handling administrative procedures, and informal costs must stop,” Toan recommended. recommended.
Mr. Nguyen Chi Dung – Minister of Planning and Investment
The two economies of Vietnam and the United States are complementary to each other and have a lot of potential and room for cooperation and development in the future. I hope that in the future, American businesses must be the number one and largest investor in Vietnam to promote all opportunities for cooperation in the development of the two countries based on an equal relationship. , mutual respect and mutual benefit. Vietnam is committed to continuing to improve a transparent and open business and investment environment. The Ministry of Planning and Investment will commit to being a focal point, a reliable address, accompanying and supporting investors, including American investors, to invest and do business effectively and successfully in Vietnam.
Mr. Vu Tu Thanh – Executive Vice President, US-ASEAN Business Council
More than 50 leading US companies visiting Vietnam this time will participate in activities to promote economic and trade cooperation between the two countries. Some companies consider Vietnam to be an increasingly developed center of production and service provision for consumers with an economic growth rate of more than 8% in 2022. In the context of Vietnam’s economy in 2023, there are “The difficulties and challenges outweigh the advantages” as assessed by the Prime Minister, the fact that nearly 50 leading US businesses come to Vietnam to meet the Government and business partners have shown great trust and interest in Vietnam. Vietnam market.
Mr. Le Duy Binh – Director of Economica Vietnam
The attraction of investment from the US is expected to bring opportunities to access higher source technology for Vietnam. Not to mention, American businesses have high environmental and social standards, which is in line with Vietnam’s development strategy. They wait for Vietnam to break through and become a Southeast Asian dragon for their support and cooperation. The remaining problem is what conditions Vietnam will prepare to “lay the nest”, creating confidence for investors to pour capital.
