Large US enterprises are going to Vietnam for investment

Large US enterprises are going to Vietnam for investment

About fifty US businesses are now visiting Hanoi in search of sales, sourcing, and investment possibilities, according to data from the US-ASEAN Business Council (USABC). This is the largest US corporate delegation that has visited Vietnam in recent memory to promote entry options, such as the potential for opening a representative office, setting up company in Vietnam, or even expanding already-existing activities.

These businesses include 40 companies taking part in the yearly Vietnam business delegation and 15 companies taking part in the delegation for health and life sciences. Many businesses attend both delegations.

The US mission in Vietnam stressed that this is the largest corporate group from the US to visit Vietnam in many years and that it is there to celebrate the comprehensive relationship between the US and Vietnam's 10th anniversary.

The US continues to be the top investor in ASEAN nations, putting more money into these nations than the next three combined, according to the US Mission in Vietnam.

The largest ever US corporate delegation visited Vietnam this week in search of investment prospects and market entrance, and it included companies like SpaceX, Netflix, Boeing, and companies active in the defense, pharmaceutical, and technology sectors.

Movie-streaming website one of the businesses that sent representatives to the trip was Netflix. In the past, the media has reported that Netflix intended to establish a representative office in Vietnam.

Boeing, Lockheed Martin, and Bell, among other defense technology companies, will meet with Vietnamese partners. For the first time in almost ten years, security and defense firms have chosen to travel to Vietnam as part of yearly delegations. These businesses spoke with Vietnamese government representatives in December about the prospect of selling drones and helicopters.

According to a Boeing announcement, their conversations with officials would center on creating joint ventures with Vietnam and taking steps to improve Vietnam's aviation and defense capabilities. Vietnam and other nations in the region are interested in purchasing satellite Internet services from SpaceX. Along with semiconductor firms, big pharma businesses like Pfizer and Johnson & Johnson, Abbott medical devices, financial services firms like Visa and CitiBank, and internet and cloud service providers like Meta and Amazon Web Services were all represented in the delegation.

The majority of the corporations taking part in the next delegation, such as Apple, Coca-Cola, and PepsiCo, already have operations or production facilities in Vietnam, though they also have aspirations to grow. As a result of the benefits Vietnam may offer, including expanding skilled labor resources, a stable economy, and improved investment rules, some other businesses have come to learn about the investment environment and to establish a representative office or establish company in Vietnam

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