US investment continues to flow into Vietnam
Vietnam has become an attractive destination for US investors, up to now, the United States ranks 9th among countries and territories set up company in Vietnam with foreign direct investment.
Dow Chemical, Coca-Cola, Uber… are well-known US companies that deploying expansion investment projects in Vietnam. In addition, such names as Exxon Mobil, Cargill, General Electric, Johnson and Johnson, Pfizer… have become familiar, not only because of the huge capital brought into Vietnam, but also help to increase production capacity, contributing to Vietnam’s export growth.
Presently, thanks to the good relationship between the two countries, the investment and business environment in Vietnam has been improved. Many US businesses have signed large contracts with Vietnamese enterprises, concentrating on the fields such as oil and gas, information technology, animal feed and electronics.
According to information from the American Chamber of Commerce in Vietnam (AmCham), many US businesses are working with the authorities to expand their projects in Vietnam.
Meanwhile, the big names that have long presence in Vietnam also urgently deploy expansion plans. Cargill Vietnam Co., Ltd is expanding its operations in Vietnam, in addition to the successful field of animal feed production. It is expected that by the end of this year, Cargill will put into operation a 10 million USD warehouse at Phu My port in Ba Ria – Vung Tau province.
Cargill also plans to work with the Ministry of Transport on investment in the northern port project to expand its range of operations in many investment sectors in Vietnam.
Dow Chemical, a large US chemical company, after more than 20 years of operation in Vietnam, the company is intending to expand its operations in 2017. Dow Chemical is cooperating with many companies in Vietnam in the fields of agricultural chemicals, biotechnology and services. Furthermore, with long-term investment commitments, in addition to raising capital, Dow Chemical is ready to assist Vietnam in developing a national list of chemicals for research and development.
Statistics show that, up to May 2017, US businesses have invested in 834 projects in Vietnam, with total registered capital of 10.2 billion USD, ranked 9/116 countries and territories that have investment projects in Vietnam.
Moreover, according to an AmCham survey of 100 US companies in Vietnam, 72% of respondents said that Vietnam’s investment environment was improving, much better than Myanmar, Malaysia, Thailand and Brunei.
US investment capital flows into Vietnam are no longer tied up in some areas of high profitability as before. Presently, some conditional business areas such as casino, entertainment… are expected to attract more capital from US businesses.
For example, Time Warner Inc., the world’s leading media and entertainment company, is also looking for direct investment opportunities in Vietnam.
So far, most of the key businesses in Vietnam are having the presence of major US investors, typically oil and gas sector with famous names such as Exxon Mobil and Chevron; Boeing, ADC-HAS Airport in the field of aviation; Information technology with Microsoft, Intel, Apple, HP; Electrical appliances with General Electric, General Atlantis and AES…