Da Nang, US boost trade, investment relations

Potential for Da Nang to profit from trade, investment and economic integration once the Trans-Pacific Partnership (TPP) agreement comes into effect as well as investment opportunities in the US were featured at a conference held in the central coastal city on September 28.

The conference was jointly organised by the municipal Department of Foreign Affairs, Da Nang Friendship Association and the US Consulate General in Ho Chi Minh City as part of activities to celebrate the 20 th anniversary of Vietnam-US diplomatic relations.

Nathan Lane, Economic Officer from the US Consulate General, highlighted that the TPP is a valuable opportunity for Vietnamese exports to the US such as garments, seafood, footwear and wooden furniture while fostering investment from the US and other foreign countries in Vietnam.

He added that the deal will also help lift Vietnam’s position in the international arena and enhance its relations with key partners.

Solutions to connect with US suppliers and address intellectual property, cyber security and US visa requirements were discussed at the conference. In addition, representatives of US brands briefed the municipal authorities and enterprises on the role of intellectual property rights in economic growth and research development.

The US is among the leading trade and investment partners of Da Nang. As of June 30, 2015, the city was home to 34 US projects with total registered capital of 331.7 million USD. As many as 15 businesses in the city have trade relations with the US.

In 2014 alone, Da Nang raked in 220 million USD from exports to the North American country.-VNA