They took part in an exchange aimed at connecting Vietnamese and American enterprises on business and investment in the US hosted by the Vietnamese Embassy on June 24. They heard from American businesses, as well as overseas Vietnamese firms and those with investment experience in the US market, share cooperation opportunities and regulations relating to investment and business in the lucrative market.
Addressing the event, Vietnamese Ambassador Nguyen Quoc Dung noted that the engagement of many Vietnamese firms in SelectUSA Investment Summit 2024 highlights the positive development of mutual diplomatic relations, the Vietnamese side’s strong development and international integration, as well as the desire of businesses to reach out to the international market.
Taking the floor, Deputy Assistant Secretary for Asia at the US Department of Commerce Pamela Phan highlighted major milestones in bilateral trading ties, saying that Vietnam was the ninth largest trade partner of the US in 2023. She affirmed that the US Government would support and create favourable conditions for Vietnamese firms to invest in the US.
Vietnamese enterprises that have acquired experience investing in the US such as Vietcombank and Vinfast shared opportunities and challenges in the market, as well as their plans to further expand operations there. Eximbank, Vietcombank, and Ernst & Young also introduced products, services, and support programmes that banks and firms can provide when investing and doing business in the US.
US Ambassador to Vietnam Marc Knapper said that the September 2023 upgrade of the two countries’ ties to that of a comprehensive strategic partnership has created more advantages for economic and trade relations. He therefore encouraged Vietnamese businesses to invest in the US and benefit from investment incentives such as Select USA and other such schemes.
SelectUSA Investment Summit is an annual event organized by the US Department of Commerce to attract direct investment into the country. The summit has attracted thousands of international companies, economic development organisations from all states and territories in the United States, and investors from more than 80 countries and territories around the world. SelectUSA 2024 was held in the Maryland state from June 23-26.
