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American businesses are increasingly interested in investing in Vietnam

American businesses are increasingly interested in investing in Vietnam

Feb 16, 2023

Hanoi [Vietnam], February 16: On February 15, at the first press conference of her term, US Consul General in Ho Chi Minh City Susan Burns forecasted that 2023 would be full of positive developments while bilateral economic relations were developing.
The US is Vietnam's largest export market
This year marks the 10th anniversary of the Vietnam - US Comprehensive Partnership. Ms. Burns reiterated the remark of the US Ambassador to Hanoi Marc Knapper that the bilateral relationship has in fact reached a strategic level.
"When I look at the economic cooperation and the depth of the economic relationship that we have, and when we talk about bilateral trade of about $113 billion in 2021, that's a significant number," he said. In addition, the fact that the US is currently Vietnam's largest export market shows the size of economic linkage and cooperation between the two countries, "said the Consul General.
She recounted that every week, an American company mentioned that they would invest here and there in Ho Chi Minh City in particular and Vietnam in general. However, in order to really grasp the opportunity to participate in a stable and diversified supply chain, the Consul General said that Vietnam needs to train a highly skilled workforce and build a capable workforce. , able to work in a highly specialized environment.
"In my opinion, Vietnam will go through a transition period in the next few years to become a highly skilled and specialized economy," Ms. Burns forecast and commented that Vietnam absolutely has that potential.
Regarding the American business community in Ho Chi Minh City, the Consul General said that interest in this city is increasing, especially in terms of investment. Although 2023 will probably continue to be challenging, the American business community and investors see Ho Chi Minh City and Vietnam as still having strong long-term prospects.
In the year of the 10th anniversary of the establishment of relations, Ms. Burns forecast that this year will see many high-level visits, specifically within the next few months.
Source: ThanhNien Newspaper