Business

US investors continue to pour capital into Vietnam

Renowned US corporations like Uber, Coca-Cola, Exxon Mobil, Cargil and Pfizer are expanding their business in Vietnam, contributing to Vietnam’s export growth.
US investors continue to pour capital into Vietnam ảnh 1Coca-Cola is expanding business in Vietnam (Photo: baodautu.vn)

Hanoi (VNA) – Renowned US corporations like Uber, Coca-Cola, ExxonMobil, Cargil and Pfizer are expanding their business in Vietnam, contributingto Vietnam’s export growth.

Thanks to sound relations between the two countries and Vietnam’s improvedbusiness climate, many US enterprises have signed contracts with Vietnamese firmsto pour additional capital into oil and gas, information and technology, cattlefeed and electronics.

Cargill Vietnam Company Limited is rushing to extend its operation in thecountry beyond its successful animal feed business. By the end of this year,the company will open a warehouse valued at 10 million USD in Phu My port, thesouthern province of Ba Ria-Vung Tau.

It also plans to work with the Ministry of Transport on a port investmentproject in the north to increase its presence in Vietnam.

Meanwhile, Dow Chemical Company, the US’s leading chemical corporation, isplanning to branch out its operation this year, revealed the Country ManagerTomoyuki Sasama in a meeting with Minister of Planning and Investment NguyenChi Dung.

Dow Chemical has worked with Vietnamese enterprises in the fields ofagricultural chemical, biology and services, Sasama said, adding that withlong-term investment, the company is ready to support Vietnam to set up anational chemical portfolio for research and development.

Dow Chemical has market capitalisation value of 60 billion USD and producechemicals in 35 countries and territories and employs 53,000 workers.

Besides, casinos and other forms of entertainment are expected to lureadditional US capital. Time Warner, Inc, the world’s leading mass media andentertainment conglomerate, is seeking opportunities to invest in Vietnam.

In a survey conducted by the American Chamber of Commerce in Vietnam on 100 UScompanies in Vietnam, 72 percent of the firms affirmed that Vietnam’s businessclimate has improved, higher than the figure in Myanmar (70 percent), Malaysia(23 percent), Thailand (22 percent) and Brunei (16 percent).

Vietnam’s key business sectors feature US companies, including Exxon Mobil andChevron in oil and gas field, Boeing, ADC-HAS Airport in aviation, Microsoft,Intel, Apple and HP in information and technology and General Electric, GeneralAtlantis and AES in electric appliances.

Statistics showed that US enterprises have 834 projects with total registeredcapital of 10.2 billion USD in Vietnam, with the US the ninth largest investoramong 116 countries and territories in Vietnam.- VNA

VNA
#Renowned US corporations #business #expand #improved business climate #Cargill Vietnam Company Limited #Dow Chemical Company #Time Warner United States
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