Sat, 09 Dec 2023

US sending business mission from 50 companies to Vietnam

Robert Besser
20 Mar 2023, 05:06 GMT+10

HANOI, Vietnam: SpaceX, Netflix and Boeing will join what is described as the "biggest-ever" U.S. business mission to meet in Vietnam next week.

The 50 US companies will send representatives to discuss investment and sales opportunities in Vietnam, the organizer said.

The Americans will represent a wide range of industries, including defense, pharmaceutical and tech firms. The meetings are being sponsored by the US-ASEAN Business Council, an industry body.

As the US and other countries seek business alternatives to China, Vietnam is being seen with increasing interest as a global manufacturing hub.

Vietnam, with a population of 100 million people, is noted for its expanding middle class and accompanying consumer market.

"This is the biggest-ever mission in Vietnam," said Vu Tu Thanh, the US-ASEAN Business Council's representative in the country, according to Reuters.

Reuters reported in February that Netflix will soon open an office in Vietnam.

Meetings have also been scheduled between Boeing, Lockheed Martin, Bell and Vietnamese defense procurement companies. Thanh said this was the first time in some ten years that US security firms have joined the annual business and trade mission to Vietnam.

"Helicopters are one of the things the companies hope to sell to the Vietnamese," Thanh said, as quoted by Reuters.

Boeing issued a statement saying that discussions in Vietnam would revolve around strengthening the country's aviation and defense capabilities.

Also, a large number of US companies joining the business mission have business or manufacturing facilities in Vietnam, including Apple, Coca-Cola and PepsiCo, Thanh said.

Besides the planned business meetings, US business representatives will have meetings with Vietnam's top political and regulatory leadership, including Prime Minister Pham Minh Chinh.

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