More than 30 Vietnamese investors participated in a seminar in HCM City (Photo courtesy of the US consulate)

HCM City (VNA)
- More than 30 Vietnamese investors participated in a seminar held in Ho Chi Minh City on May 3 as part of the US Mission to Vietnam’s ongoing recruitment for the SelectUSA Investment Summit in Washington, DC in June.

The first “Invest in the US” seminar, coorganised by the US Consulate General and AmCham HCM City, described the benefits of investing in the US, home to the largest amount of FDI in the world.

Experts from Baker & McKenzie law firm provided Vietnamese investors with an introduction on the legal and foreign exchange requirements for outbound investment and gave presentations on best practices for establishing operations in the US.

One of the benefits of investing in the US is the variety of opportunities that exist across the country’s 52 states and territories. Representatives from the US states of Idaho, Iowa, and Pennsylvania spoke about investment opportunities in their states.

Fred Burke, senior partner from Baker & McKenzie, highlighted how Vietnam’s GDP growth was fueling greater interest in investing in the US.

It is often said that investment follows trade, and Vietnam’s trade with the US has grown enormously in recent years such that it is one of Vietnam’s top export markets.  It should come as no surprise, therefore, that Vietnamese firms are looking to invest in the US to support their trade relations and take advantage of opportunities there, Burke said.

The Investment Summit promotes the US as a premier investment destination and connects qualified foreign firms with US economic development organisations to facilitate business investment and job creation.

Last year’s SelectUSA Investment Summit hosted by US Secretary of Commerce Wilbur Ross drew the largest crowd yet, with over 3,000 registered participants.

With 28 delegates, Vietnam had the 12th largest delegation at the summit and the largest delegation from Southeast Asia.-VNA