Business

US state promotes investment in Vietnam

A high-level trade mission from the US state of Idaho recently visited Ho Chi Minh City to promote trade and investment activities in Vietnam and the southern economic hub in particular.
US state promotes investment in Vietnam ảnh 1Director at Idaho Department of Commerce Megan Ronk answers reporters' queries at a press conference (Source internet)

Hanoi (VNA) – A high-level trademission from the US state of Idaho recently visited Ho Chi Minh City to promotetrade and investment activities in Vietnam and the southern economic hub inparticular.

This is the third working visit of the state toVietnam over the last nine years, according to Cong Thuong (Industry &Trade) newspaper.

Speaker of the Idaho House of RepresentativesScott Bedke said the mission includes 15 businesses operating in cultivation,dairy production, and breeding. He added that the US firms see huge cooperationopportunities in Vietnam.

Idaho has strengths in agricultural and foodproduction, hi-tech industries, and semi-conductor industry. In 2016, Idahoexported 11.35 million USD worth of goods to Vietnam, up 55 percent year-on-year.

Director at Idaho Department of Commerce MeganRonk said many businesses from the state have upwards of 10-year-old working relationshipsin Vietnam. 

She said that Idaho is thebiggest dairy producer in the US with 25,000 farms.

In the lasttwo years, Vietnamese dairy companies and farms have imported more than 8,000milk cows from the US’s western states, including Idaho. Therefore, Idaho wantsto seek more cooperation opportunities and share development experience withVietnamese businesses.

The state’s government is also acceleratingactivities to draw foreign direct investment from Vietnam, she said.

She noted that projects worth 500,000 USD ormore and generating jobs for at least 10 workers are eligible to enjoy the state’sincentives.-VNA

VNA
# trade mission #US state of Idaho #Ho Chi Minh City #promote trade and investment activities #huge cooperation opportunities #agricultural and food production #hi-tech industries #and semi-conductor industry #dairy producer United States Vietnam
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