SelectUSA 2024 Promotes Cooperation Between Vietnam, US Enterprises

The Deputy Assistant Secretary for Asia at the US Department of Commerce affirmed that the US government would encourage and create favorable conditions for Vietnamese businesses that invest and operate in the US.

Phuong Nguyen

July 01, 2024 | 10:23

	US enterprises highly appreciate investment opportunities in Vietnam
	Online trade conference offers business opportunities for Vietnamese and US enterprises

According to VNA Correspondents in the US, the 10th SelectUSA Investment Summit took place from June 23 to June 26 in Maryland, US.

More than 70 Vietnamese business delegations attended the conference. These are businesses that have invested or plan to invest in the US in a variety of industries, including software, technology, construction, logistics, transportation, food, and agriculture.

Overview of the seminar connecting Vietnamese businesses organized by the Vietnamese Embassy in the US. (Photo: Kieu Trang/TTXVN)

On June 24, the Vietnamese Embassy in the US held a seminar to connect Vietnamese and American enterprises on investment and business in the US. Vietnamese companies participating in SelectUSA 2024 received US businesses, overseas Vietnamese entrepreneurs, and Vietnamese businesses that had experimented with investing in the US, shared ideas, and discussed investment opportunities, and business regulations in the US.

Pamela Phan, Deputy Assistant Secretary for Asia at the US Department of Commerce, US Ambassador to Vietnam Marc Knapper, representatives from the US Department of State, US Department of Commerce, US Embassy in Hanoi, US Department of Foreign Affairs in Ho Chi Minh City, associations, US companies, and the Vietnamese community in the US attended the event.

Addressing the seminar, Vietnamese Ambassador to the US Nguyen Quoc Dung stated that the first time a large number of Vietnamese enterprises attended SelectUSA demonstrated the outstanding development of Vietnam-US relations, Vietnam's development and international integration, and Vietnamese companies' desire to reach international markets.

Vietnamese Ambassador Nguyen Quoc Dung. (Photo: Kieu Trang/VNA)

The Deputy Assistant Secretary for Asia at the US Department of Commerce assessed Vietnam as the US's ninth most important trade partner in 2023 and stated that the US government would support and create favorable conditions for Vietnamese businesses investing and doing business in the US.

Ann Huynh, an overseas Vietnamese businessperson who has followed the SelectUSA program since 2017, stated that the program has provided many opportunities for Vietnamese enterprises to seek knowledge. In particular, the fact that President Joe Biden's administration enacted domestic protection, supporting domestic goods manufacturing, and the need to buy services totaling millions of dollars each year.

Overseas Vietnamese companies in the US are always willing to support, having numerous groups that help Vietnamese businesses in many states so that they can invest in the US at the current period.

Deputy Assistant Secretary for Asia at the US Department of Commerce Pamela Phan. (Photo: Kieu Trang/VNA)

Vietnamese enterprises that are experimenting with investing in the US, such as Vietcombank and Vinfast, have also discussed their experiences, risks, and opportunities while investing in the US, as well as their plans to expand manufacturing and business activities.

Eximbank, Vietcombank, and Ernst & Young introduced their products and services, as well as the assistance programs that these banks and enterprises can offer to businesses that invest and operate in the US.

According to US Ambassador to Vietnam Marc Knapper, the upgrade of the Vietnam-US relations to a Comprehensive Strategic Partnership has created favorable conditions for the two countries' economic-trade relations, encouraging Vietnamese companies to invest in the US and take advantage of investment promotion programs like SelectUSA.

SelectUSA is the U.S. government program led by the U.S. Department of Commerce that focuses on facilitating job-creating business investment in the United States and raising awareness of the critical role that economic development plays in the U.S. economy.

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