US investment encouraged in Vietnam

Deputy Prime Minister Nguyen Sinh Hung has appreciated US businesses’ increased investment in Vietnam and said that the two countries still have great potential for expanding bilateral cooperation.

Mr Hung made the remark while receiving a delegation from the US-ASEAN Business Council led by its President Matthew Daley in Hanoi on May 15. He welcomed the visit by representatives of 16 corporate giants, saying this shows US businesses’ keen interest in opportunities for investment and cooperation in Vietnam.

He briefed them on Vietnam’s socio-economic development, and said he hopes that economic and trade ties between Vietnam and the US will expand further.

Matthew Daley, president of the council, said he was impressed by Vietnam’s foreign direct investment in the first four months of this year, amounting to US$6 billion, including US$3.8 billion from the US. He expressed his hope that the US would become the biggest investor in Vietnam in the near future.

According to Daley, his visit is to study the Vietnamese Government’s policies on foreign investment as well as its long-term economic development strategy.

He also said US businesses are interested in investing in agriculture, infrastructure, energy, transport, aviation, finance and banking, health care, human resources, construction materials, mining, and telecommunications.

The US-ASEAN Business Council has more than 100 members; most of them are in the list of top 100 US businesses selected by the international magazine Fortune.