Top 50 US businesses land in Vietnam to seek opportunities

The signing and exchange of a MoU between EXIM and the Vietnam Development Bank on March 18 in Ha Noi

A delegation of 50 top US businesses arrived in Vietnam on March 18 to seek cooperation opportunities in various sectors, including technology, energy, aviation and defence, manufacturing, agriculture and food, financial services, healthcare, and investment.

According to the US-ASEAN Business Council (USABC), this is the largest business delegation from the US to visit the Southeast Asian country since the two nations upgraded their relationship to a Comprehensive Strategic Partnership in September last year.

During their stay from March 18 to March 21, US businesses are to hold working sessions with Vietnamese ministries, agencies, and localities to promote investment opportunities or expand business in Vietnam.

Ted Osius, the President of USABC and a former US Ambassador to Vietnam, said the delegation includes representatives from various sectors of the American economy, reflecting Washington's commitment to implement the Comprehensive Strategic Partnership with Ha Noi.

Sarah Morgenthau, special representative for trade and business from the US Department of State, said US investment in Vietnam and vice versa have been on the rise and that Vietnam plays a significant role within ASEAN.

Reta Jo Lewis, President of the Export-Import Bank of the United States (EXIM), asserted that the bank will continue to enhance support for financial transactions between the two countries as part of the Comprehensive Strategic Partnership's commitments.

She said the bank has programmes to support American businesses producing in the US but also supports foreign businesses investing and doing business in the US, such as Vietnamese electric vehicle maker VinFast.

US business representatives said they have confidence in the Southeast Asian country's economic potential as a Meta's representative revealed plans to introduce new products and services to Vietnam, highlighting the country's potential to become a rising dragon in Asia in the field of artificial intelligence.

Atmo, a US company specialised in providing multinational weather forecasting services with artificial intelligence technology, said the company sees great investment potential in Vietnam, a country forecast to be heavily affected by climate change.

Soon after arriving, EXIM and the Vietnam Development Bank (VDB) signed a memorandum of understanding worth US$500 million. Cooperation between EXIM and the VDB is expected to facilitate Vietnam-US import-export activities and cooperations, especially in green economic transformation, infrastructure development projects, and climate-related issues.

TB (according to VNS)