Vietnam is still attractive destination for US firms: USABC

‎The business environment in Vietnam is still attractive to US large companies, President and CEO of the US - ASEAN Business Council (USABC) Ted Osius said at a press conference in Hanoi on March 21.

Speaking at the press briefing, Ted Osius, who is a former US Ambassador to Vietnam, stressed that US firms strongly believe in Vietnam’s growth prospects and always want to seek business and investment cooperation chances in the country.

He informed that USABC will lead a business delegation of 52 US firms to visit Vietnam this week. They are scheduled to meet Prime Minister Pham Minh Chinh, Chairman of the National Assembly Vuong Dinh Hue and leaders of ministries and branches.

According to the USABC representative, the business delegation includes major firms like Boeing, Coca-Cola, CitiBank, Meta, SpaceX, Netflix, Abbott, and AES, operating in various sectors, which once again demonstrates US enterprises and investors’ interest in Vietnam. 

Representatives of some US enterprises expressed the intention of setting up or expanding investment and business activities in Vietnam.

The US currently has over 1,200 valid projects worth over 11.4 billion USD in Vietnam, ranking 11th among the 142 countries and territories investing in the Southeast Asian nation.

Bilateral trade hit a record of over 123 billion USD in 2022, up 11% year on year, turning the US into the second biggest trading partner of Vietnam./.