Why the US investors interested in Vietnam market?

, Why the US investors interested in Vietnam market?

On March 8, Nguyen Chi Dung, the Minister of Vietnam Planning and Investment had a working session with the US-ASEAN Business Council (USABC) and representatives from 50 US firms operating in Vietnam.

The minister appreciated the council’s efforts in connecting businesses and investors of Vietnam and the US, as well as its policy proposals and recommendations to improve the business environment in Vietnam, the Vietnam News Agency reported.

He also highly valued the operations of member enterprises of the USABC in Vietnam over the past years.

According to the Regional Managing Director of the USABC Michael Michalak, who used to serve as a US Ambassador to Vietnam, Vietnam still be an attractive destination for US investors in the time ahead.

The US firms appreciated the Vietnamese government’s efforts in reforming administrative procedures and improving the investment environment, and committed to expanding their operations in the country, he added.

At the event, Minister of Vietnam Planning and Investment briefed the guests on his country’s priorities in 2022 such as stepping up the disbursement of public investment, and the equitisation and divestment at State-owned enterprises, and attracting more private and foreign investments, Vietnam News Agency citied the report from Planning and Investment ministry.

According to Dung, the Planning and Investment ministry will focus on promoting potential areas to serve the country’s economic recovery and growth like digital transformation, green growth, innovation, low-carbon energy, support industry and quality agriculture.

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As of February 20, 2022, the US ranked 11th among 140 countries and territories investing in Vietnam, with 1,145 projects worth over 10.3 billion USD. Meanwhile, Vietnam had 208 projects valued at 1.06 billion USD in the US, according to the Foreign Investment Agency.

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