A delegation of 52 major American companies, including Boeing, SpaceX, Netflix, and Apple, visited Vietnam to explore cooperation opportunities in various fields.
On March 21, the US-ASEAN Business Council (USABC) announced that this is the largest US business delegation to visit Vietnam to date, celebrating the 10th anniversary of the comprehensive partnership between the two countries. Notable names in the delegation include aerospace giant Boeing, defense industrial group Lockheed Martin, technology conglomerate SpaceX, and familiar names like Netflix, Apple, and Ford. VinFast is also on the list.
USABC President and CEO Ted Osius commented that the participation of 52 large companies demonstrates their confidence in Vietnam.
“US businesses have a growing interest in the ASEAN region, particularly Vietnam, given the global economic challenges. This is a dynamic, growth-centered region,” he said.
Last year, Vietnam’s economy grew by 8.02% and is expected to exceed 6% this year. In addition, USABC revealed that US companies also seek to diversify their supply chains post-Covid-19.
The US business delegation met with the Ministry of Finance leaders on the morning of March 21. They will also meet with Prime Minister Pham Minh Chinh (expected tomorrow afternoon), National Assembly Chairman Vuong Dinh Hue, and leaders of various ministries to discuss policy issues, sales opportunities, supply, and investment. Bilateral trade between the two countries exceeded $120 billion last year, and this year is expected to mark the third consecutive year of bilateral trade exceeding $100 billion. Trade growth between the two countries has increased 360 times since the normalization of diplomatic relations.
USABC Senior Vice President Michael W Michalak noted that the meetings not only aim to strengthen trade in goods but also promote innovative cooperation. “This will be the fastest-growing area, and we are looking for ways for US businesses to focus on exploiting it,” he said and mentioned that he had discussed an innovation center with the Ministry of Planning and Investment.
Dr. Rafael Frankel, a representative of the Meta Group, was impressed with the digital economy development in Vietnam. “The future of investment in this area will be very promising,” he said, expressing his hope that Vietnam would continue to maintain an open economic model to develop the digital economy in the next 20-30 years.
A representative from AES, a Fortune 500 energy company, shared their plans to continue seeking renewable energy development opportunities in Vietnam. The company will also introduce energy storage technology – a solution that helps Vietnam integrate renewable energy, reduce congestion, and stabilize the power grid. “Energy is a strategic cooperation area between the two countries.
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