Wed. May 22nd, 2024

A US business official has highlighted Vietnam for its important
position in establishing economic and trade links with the Association
of Southeast Asian Nations (ASEAN).

Marc Mealy,
Vice Chairman of the US-ASEAN Business Council, made the remarks at a
seminar on Vietnam-bound investment in New York on March 5, with the
participation of over 70 representatives from local companies, trade
organisations and investment funds.

The chairman
said the Obama administration’s US Pivot Strategy towards Asia and the
possible signing of the Trans-Pacific Partnership (TPP) will create
more opportunities for US businesses to invest in Vietnam .

Addressing the event, Le Hoai Trung, Vietnam’s permanent
representative to the United Nations, pinpointed his country’s
competitive advantages – its large population, abundant workforce and
geographic position – as its investment “magnet”.

A number of US firms and groups have established footholds in Vietnam’s southern Binh Duong province, which has the most favourable
investment environment in the country, the diplomat added.

Walter Blocker, among the first US businessmen to pour capital into
the Vietnam Trade Alliance branch in Ho Chi Minh City since
diplomatic ties between the countries were normalised in 1995, shared
his success stories. Vietnam has made great strides in its
investment environment reform, he added.

Participants at the seminar focused attention to business-related
procedures in the Southeast Asian country and Binh Duong province in
particular, as well as to US-Vietnam ties.

seminar was held by Binh Duong-based Becamex ID Corporation with the
support of Citibank and New York-based Manhattan Commerce Chamber.-VNA

By vivian