The US-ASEAN Business Council (US-ABC) launched a conference in Ha Noi on Monday with the largest trade delegation ever sent from the US to Viet Nam in the organisation’s 35-year history.
The delegation includes famous names such as Apple, Google, ExxonMobil, Amazon, Microsoft, PepsiCo, GE and Intel.
During a brief meeting held on Monday, President of the US-ABC Alexander Feldman said the companies would be participating in an annual business mission that would discuss a wide range of issues and a Health and Life Sciences mission.
A workshop on cybersecurity and data privacy will also be part of the week-long programme. The companies will be meeting with the Prime Minister and key members of his cabinet as well as leaders of the State and National Assembly to discuss business issues and policy recommendations.
“We have been doing this business mission for nearly a decade. It has been a pleasure to see the country grow; the opportunities increase in Viet Nam and the US business community respond,” Feldman said.
“This time, we will take a very strategic look at the health and life sciences sector. We will also sign a Memorandum of Understanding (MOU) with the Ministry of Health, talking about how we can improve healthcare services across Viet Nam,” he said.
“Most of the businesses with us this time have already invested in Viet Nam, and most of them have already committed to Viet Nam. And they come from all different sectors like gas, financial services, technology, consumer products, healthcare, environmentally friendly business and travel,” he said.
The US private sector was always looking for the best place for the best returns and the best business opportunities for shareholders, said Michael W. Michalak, Senior Vice President and Regional Managing Director of the US-ABC.
Due to concerns about the US-China trade war, many producers were trying to diversify their investment destinations, and were no longer looking at China as their first choice and instead gradually relocating their operations to seek other markets for production, Michalak said.
“Since 1995, the relationship between US and Viet Nam has blossomed into one of the strongest partnerships that we have anywhere in the world.”
“We see potential not just in investment but also trade co-operation, intellectual capability, and the ability of Viet Nam to be reaching out to the rest of ASEAN. We believe Viet Nam has gradually becoming one of the leading countries within ASEAN. All of these factors mean that we have a lot of potential to develop together,” Michalak said.
“The Vietnamese government has been a great partner for businesses, always listening and creating favourable conditions for businesses, that makes Viet Nam an destination where businesses can flourish.Vietnamese people are industruous, smart, creative, friendly and are great partners for businesses.”
For 35 years, the US-ASEAN Business Council has been the premier advocacy organisation for US corporations operating within Southeast Asia.
Worldwide, the Council’s 160+ membership generates over US$6 trillion in revenue and employs more than 13 million people. — VNS