Vietnam Attracts Foreign Direct Investment From US

Illustration. Photo: Internet

At the Vietnam-US Business Summit in 2022, Prime Minister Pham Minh Chinh said that in the new FDI attraction strategy, Vietnam places greater priority on attracting high-tech projects, especially clean energy investment projects.

Many American experts and the business community affirm that they attach special importance to the Vietnamese market.

Marisa Lago, under secretary of Commerce for International Trade, said that in 2021, the two countries have achieved positive economic growth and recovery results. The US has become Vietnam's second largest trading partner and largest export market, while Vietnam has become America's ninth largest trading partner.

According to Marisa Lago, there are currently more than 100 US experts ready to support businesses of the two countries in investing and strengthening two-way trade.

Information at the conference showed that, up to now, the US has nearly 1,150 active projects, with a total registered investment capital of more than US$10.3 billion, ranking 11th out of 141 economies with investment in Vietnam.

Photo: congthuong.vn

In 2021, during the pandemic, many leading US corporations such as Apple, Amazon, Google, and Intel still announced their investments in Vietnam. In which, Intel Corporation has additionally invested US$475 million.

Vietnam also welcomes First Solar - one of the 3 largest energy corporations in the US - with a project to produce solar panels with thin film technology, with a total investment of over US$1 billion.

Hayward Quartz Technology INC in Silicon Valley invested US$110 million in a high-tech park in Da Nang.

The survey results on business investment in 2021 by the American Chamber of Commerce in Vietnam (AmCham) show that nearly 80% of AmCham members rate very positively or positively about the medium and long-term prospects in the Vietnam's market.

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