US firms plan to expand investments in Vietnam

Participants at the workshop (Source: VNA)

HCM City (VNA) – Many US enterprises are paying heed to, while others are planning expand their investments in Vietnam in such fields as infrastructure, energy, aviation, hi-technology and farm produce export-import, said US Consul General in Ho Chi Minh City Mary Tarnowka. 

At a workshop in HCM City on December 20, Tarnowka said US firms highly evaluate Vietnam’ efforts in reforming institutions and administrative procedures, thereby creating an equal playground for foreign businesses, including those from the US. 

Walter Blocker, a representative of the US Commerce Association in Vietnam, said US enterprises are actively supporting Vietnamese partners in joining deeper into the global supply chains, thus improving their productivity. 

As Vietnam and the US have become leading trade partners, Vietnam should focus on updating new technologies and improving the quality of products to meet the consumption demands of both countries, he noted. 

Statistics showed that two-way trade between Vietnam and the US increased nearly three folds within the last eight years, hitting 45 billion US at present.

Meanwhile, Vice Chairman of the Ho Chi Minh City People’s Committee Le Thanh Liem said the city hopes to welcome more US investors, making the US one of the leading foreign investors in the southern metropolis. 

According to the official, trade value between HCM City and the US exceeded 8 billion USD in 2016, up 60 percent against the figure of 2012. The US now ranks 11th among 78 countries and territories investing in HCM City.-VNA

VNA