From March 18-21, a high-level delegation of 50 leading US companies will visit and work in Vietnam. These companies operate in various fields such as technology, energy, aerospace and defense, manufacturing, agriculture and food, financial services, healthcare, investment funds, etc. The program is organized by the USABC. This is the largest business delegation from the US to Vietnam since the two countries upgraded their comprehensive strategic partnership.
The delegation includes Mr. Ted Osius – former US Ambassador to Vietnam, Chairman and CEO of USABC; Mr. Marc Knapper – US Ambassador to Vietnam; Ms. Sarah Morgenthau – US Department of State’s Special Representative for Commercial and Business Affairs; Mr. Vu Tu Thanh – Deputy Executive Director of USABC and Chief Representative in Vietnam; representatives of several companies and USABC participating in the high-level business delegation 2024.
According to statistics from the Foreign Investment Agency, Ministry of Planning and Investment, as of February 2024, Vietnam has attracted 39,553 foreign direct investment projects with a total registered capital of USD 473.065 billion from 145 countries and territories. The US ranks 11th with 1,347 projects and a total registered capital of over USD 11.83 billion.
A delegation of 50 leading US companies will visit and work in Vietnam from March 18-21 (illustrative image: TTXVN).
In March last year, over 50 US companies also visited Vietnam to discuss investment and business opportunities. Among them were well-known names that have been operating or producing in Vietnam and have plans for expansion, including Apple, Coca-Cola, PepsiCo, Netflix, etc.
At the working session with Prime Minister Pham Minh Chinh, USABC Chairman Ted Osius said that businesses consider Vietnam as a strategic market with long-term investment commitment, strongly supporting the Vietnamese Government’s goals for digital transformation, green conversion, and infrastructure development such as expressways, high-speed railways, etc.
In addition to meetings with government leaders and ministries, US businesses also met and explored cooperation with domestic enterprises.
In 2023, during President Joe Biden’s visit to Vietnam, the two countries upgraded their relationship to a comprehensive strategic partnership. Many agreements and investment deals worth billions of dollars were signed between businesses of the two countries.
In December 2023, the Chairman of the US Semiconductor Industry Association (SIA) and member companies also visited Vietnam. At the dialogue with the Ministry of Planning and Investment, Mr. John Neuffer, Chairman of SIA, shared that SIA’s member companies, including Intel, Marvell, Synopsys, Qualcomm, Ampere, Infineon, have made significant investments in Vietnam.
“These investments testify to the critical and growing role of Vietnam in the global semiconductor supply chain,” Mr. John Neuffer emphasized. Many US businesses are doubling their investment in Vietnam. Enterprises recognize the amazing opportunities for Vietnam to leave its mark in the global semiconductor supply chain.
