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Viet Nam: US set to become top investor, trade leader

US set to become top investor: trade leader


HA NOI - The US is set to become Viet Nam’s number one investor in the next two years, President of the US-ASEAN Trade Council Matthew P Daley said yesterday.

Daley made the statement during talks with Deputy Prime Minister Hoang Trung Hai in Ha Noi. The trade council leader is on a visit aimed to explore investment opportunities in Viet Nam and inaugurate the council’s representative office in the capital.

Daley said he hoped the Vietnamese Government would improve the investment environment in the country to encourage more US fund managers to do long-term business there.

For his part, Hai praised the council’s efforts in promoting Viet Nam-US ties and expressed his satisfaction at the fine development of the two sides bilateral relations, particularly in trade and investment.

This year, two way trade between Viet Nam and the US is estimated at US$12-13 million. US investors have poured more than $5 billion into the country, making it Viet Nam’s 6th largest investor. Hai said Viet Nam’s economic growth rate had been on the rise for several years but its competitive edge was low, especially in technology. He added that Viet Nam always facilitated conditions for foreign investors to do their jobs in Viet Nam, including long-term US investors.

Hai applauded US groups who have interests in post and telecommunications, healthcare, technology and other fields. - VNS

 source: Viet Nam News