Overseas Vietnamese Business Association sets up US branch -- Vietnam+ (VietnamPlus)

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Overseas Vietnamese Business Association sets up US branch

13/04/2010 | 19:55:00

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The Business Association of Overseas Vietnamese (BAOOV) has set up its branch in the USA.

Present at the launching ceremony in Washington DC on April 12 together with many overseas Vietnamese business people were Minister, Chairman of the Government Office Nguyen Xuan Phuc and CEOs of a number of top Vietnamese business groups who are accompanying Prime Minister Nguyen Tan Dung in his trip to the US to attend the Nuclear Security Summit on April 12-13.

BAOOV President Pham Nhat Vuong said that the association decided to form a branch in the US to promote business opportunities in Vietnam to the Americans as well as the Vietnamese American business community.

David Huy Ho, Vice President of BAOOV and President of BAOOV US branch, said that the Vietnamese American community have made significant contributions to maintaining and fostering the increasingly cooperative relations and the more and more favourable business environment between Vietnam and the US .

He added that in 2008, Vietnamese American businesses generated over 20 billion USD in the US and invested about 200 million USD in Vietnam in various projects. Vietnamese Americans have contributed not only to the overall US economy but also to scientific and educational achievements.

He held that Vietnamese Americans have the potential to promote innovation in Vietnam 's rapidly expanding economy.

He hoped that the BAOOV US branch would help promote business transactions between Vietnam and the US and other countries and increase investments in Vietnam .

He said it would certainly be achievable as the business environment in Vietnam is very good thanks to its stable development, low labour costs and relatively highly trained workhands.

Addressing the launching ceremony, Vietnamese Ambassador to the US Le Cong Phung expressed his hope that the branch would help promote the ties between business circles in Vietnam and the US as well as make great contributions to the two countries' multi-faced relations, which are moving very fast and on the right track.

The Government fully and strongly supports the BAOOV, a social and occupational organisation of overseas Vietnamese business communities formed in August 2009 to promote capabilities of each business and the whole business community for the interest of businesses, communities and Vietnam as a whole, the Ambassador reaffirmed./.

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