US lures Vietnamese investors

14:57 | 04/05/2018 Economy

(VEN) - Over 30 Vietnamese investors participated in the “Invest in the U.S.” seminar organized in Ho Chi Minh City on May 3. Jointly organized by the U.S. Consulate General and AmCham Ho Chi Minh City, the seminar highlighted the attractions and benefits of investing in the United States, which draws the highest amount of FDI in the world.

Experts from Baker & McKenzie provided Vietnamese investors with an introduction on the legal and foreign exchange requirements for outbound investment and presented on the best practices for establishing operations in the United States. One of the benefits of investing in the U.S. is the variety of opportunities that exist across the country’s states and territories.

Vietnam is poised to become an important source of investment to the U.S. and the representatives of Iowa, Idaho, and Pennsylvania believe that now is great opportunity to engage with Vietnamese investors. They told the audience of leading Vietnamese investors that their states are ready to be at the forefront of that investment. Fred Burke, Senior Partner from Baker McKenzie highlighted how Vietnam’s GDP growth is fueling greater interest in investing in the U.S. “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.”

The seminar was held as part of the U.S. Mission to Vietnam’s recruitment drive for the 2018 SelectUSA Investment Summit that will be held from June 20 – 22, 2018 in Washington, D.C. The Investment Summit promotes the United States as a premier investment destination and connects qualified foreign firms with U.S. economic development organizations to facilitate business investment and job creation. Last year’s SelectUSA Investment Summit hosted by Secretary of Commerce Wilbur Ross drew the largest crowd yet with over 3,000 registered participants, including 1,200+ investors from 64 markets. With 28 delegates, Vietnam had the 12th largest delegation at the summit and the largest delegation from the Southeast Asia region.

SelectUSA is a U.S. Department of Commerce-led program focused on attracting high impact investments that create jobs, expand exports and drive innovation through manufacturing, services and increased research and development. SelectUSA assists U.S. economic development organizations to compete globally for investment by providing information, a platform for international marketing, and high-level advocacy. SelectUSA also helps investors find the information they need to make decisions; connect to the right people at the local level; navigate the federal regulatory system; and find solutions to issues related to the federal government.

My Phung