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VIETNAM - US Trade and Investment Conference

October 09, 2018, 10:50
In order to promote trade and investment cooperation between Vietnam and the United States, the "Vietnam-US Business Forum" was organized by the Ministry of Public Security on 25 October 2018 in Los Angeles, California. Merchants cooperate with the Consulate General of Vietnam in San Francisco, the Los Angeles Mayor's Office and the Los Angeles Chamber of Commerce. Attending the forum were representatives of more than 100 businesses, business and investment consulting companies in Vietnam and the United States.

Deputy Minister of Industry and Trade Hoang Quoc Vuong affirmed that the political and diplomatic relations between Vietnam and the United States are growing steadily. Vietnam is currently the 16th largest trading partner of the United States with two-way trade volume in 2017 reaching $ 50.8 billion, a 47-fold increase over 2000. In terms of investment, as of 8/2018 US businesses have 886 investment projects in force in Vietnam with a total registered capital of nearly 8.96 billion dollars.

However, the potential for expanding trade and investment relations between Vietnam and the United States remains enormous. In order to meet the average growth rate of 7% / year, Vietnam needs high-tech products of the United States, while it can provide more goods that the US market needs.

At the forum, delegates discussed and assessed the situation of Vietnam-US trade and investment in the recent past, proposing measures to remove difficulties and obstacles to promote cooperation between the two countries in the coming time. In his speech at the Forum, Vu Ba Phu, Director General of Vietnam Trade Promotion Agency, emphasized the importance of the US market and affirmed that the Trade Promotion Agency would continue to promote and enhance the competitiveness of Vietnamese enterprises to assist Vietnamese enterprises in accessing and exploiting foreign markets, such as the Vietnam National Brand Program and other activities under the National Trade Promotion Program ... Trade show after the Forum took place with the participation of more than 100 enterprises of the two countries. Through trade programs, many businesses have connected and exchanged business partnerships in the future.

Los Angeles is one of the key economic areas of the United States and Vietnam is the fourth largest trading partner of the city. Therefore, the organization of trade promotion and investment activities here is very important in the efforts to promote trade and investment partnerships between the United States and Vietnam.

vietrade.gov.vn


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