Intel's factory in Vietnam (Source: baodautu.vn) Hanoi (VNA) – The capital flow from theUS is expected to open up a new chapter in investment cooperation with Vietnam,according to Dau tu (Investment) newspaper.
A nice surprise is that ahead of the visit ofPrime Minister Nguyen Xuan Phuc to the US from May 29-31, Jabil Circuit, Inc.,a major American technology corporation, had commenced the construction of anew manufacturing workshop at the Saigon Hi-tech Park (SHTP).
Jabil started operation at the SHTP fromSeptember 2007, specialising in the production of electronics and equipment forinformation technology and telecommunication with the initial capital of only30 million USD. However, in 2011, the corporation decided to increaseinvestment to 100 million USD.
In 2015, Jabil once again announced to expandinvestment in Vietnam, focusing on the field of high technology.
“Since we began operations in Vietnam ten yearsago, we have been on a consistent growth trajectory. We are currently operatingat maximum capacity and this expansion is central to our growth strategy.Besides positioning us well for future growth, this expansion also reflects ourcontinued commitment to develop and invest in Vietnam,” said Vijay Chinnasami,senior vice president of electronic manufacturing services (EMS) operations atJabil.
Jabil is among US investors to pledge forlong-term operation in Vietnam. Other US big investment projects include the HoTram Strip with a total registered capital of 4.2 billion USD being carried outin southern Ba Ria – Vung Tau province.
Minister of Planning and Investment Nguyen ChiDung repeated such big names as Intel, GE, Boeing, Coca-Cola, Nike, Microsoft,Citi Group, P&G, and Mobil while highlighting the significant contributionsof US investors to the renovation, integration, and economic development ofVietnam.
As of May 20 this year, the US counted 838investment projects worth over 10.2 billion USD in Vietnam. The US is rankingninth among countries and territories investing in Vietnam.
A series of US businesses like Nike, Adidas,Intel and Microchip plan to shift production to Vietnam, while ExxonMobil – amajor US oil and gas group – moves to prepare for the implementation of theBlue Whale project to bring gas onshore, with a committed capital of nearly 10billion USD.
At recent workshops on Vietnam-US prospects in2017 and the following years in Hanoi and Ho Chi Minh City, a large number ofUS companies affirmed to increase investment in Vietnam.
“We are working to find concrete ways tostrengthen the bilateral trading relationship, including the possibility of abilateral free trade agreement, in order to support economic growth in bothcountries,” said Tami Overby, senior vice president for Asia of the US Chamberof Commerce (Amcham).
Meanwhile, AmCham Executive Director AdamSitkoff expressed his confidence in the upward growth trend of trade andinvestment relations between Vietnam and the US.
“AmCham supports a path towards a US-Vietnamfree trade agreement which would help increase bilateral trade and investment,and which would create wealth and job opportunities for people in bothcountries,” he said.
Regarding the ongoing visit to the US by PrimeMinister Nguyen Xuan Phuc, Minister Nguyen Chi Dung said this event holds asignificant meaning to elevate the bilateral comprehensive partnership to a newheight.
This is an excellent opportunity for Vietnam toboost trade and investment relations with the US, he said, adding that 80-90 Vietnamesebusinesses are accompanying the PM to seek new cooperation agreements.
The two countries’ leaders are scheduled to holdtalks to discuss measures to promote the bilateral comprehensive partnership inthe coming time, especially in the fields of politics, external affairs,economics, and trade.
Vice President of AmCham Michael Kelly told Dautu reporters that the US business community is much awaiting the PM’s visit.
“My experiences suggest that the Vietnamesegovernment is committed to implementing reforms and supporting American andVietnamese business operations. I have received reassurances that there wouldbe a level playing field for US investments in Vietnam as part of a mutuallybeneficial trade relationship.”-VNA
A nice surprise is that ahead of the visit ofPrime Minister Nguyen Xuan Phuc to the US from May 29-31, Jabil Circuit, Inc.,a major American technology corporation, had commenced the construction of anew manufacturing workshop at the Saigon Hi-tech Park (SHTP).
Jabil started operation at the SHTP fromSeptember 2007, specialising in the production of electronics and equipment forinformation technology and telecommunication with the initial capital of only30 million USD. However, in 2011, the corporation decided to increaseinvestment to 100 million USD.
In 2015, Jabil once again announced to expandinvestment in Vietnam, focusing on the field of high technology.
“Since we began operations in Vietnam ten yearsago, we have been on a consistent growth trajectory. We are currently operatingat maximum capacity and this expansion is central to our growth strategy.Besides positioning us well for future growth, this expansion also reflects ourcontinued commitment to develop and invest in Vietnam,” said Vijay Chinnasami,senior vice president of electronic manufacturing services (EMS) operations atJabil.
Jabil is among US investors to pledge forlong-term operation in Vietnam. Other US big investment projects include the HoTram Strip with a total registered capital of 4.2 billion USD being carried outin southern Ba Ria – Vung Tau province.
Minister of Planning and Investment Nguyen ChiDung repeated such big names as Intel, GE, Boeing, Coca-Cola, Nike, Microsoft,Citi Group, P&G, and Mobil while highlighting the significant contributionsof US investors to the renovation, integration, and economic development ofVietnam.
As of May 20 this year, the US counted 838investment projects worth over 10.2 billion USD in Vietnam. The US is rankingninth among countries and territories investing in Vietnam.
A series of US businesses like Nike, Adidas,Intel and Microchip plan to shift production to Vietnam, while ExxonMobil – amajor US oil and gas group – moves to prepare for the implementation of theBlue Whale project to bring gas onshore, with a committed capital of nearly 10billion USD.
At recent workshops on Vietnam-US prospects in2017 and the following years in Hanoi and Ho Chi Minh City, a large number ofUS companies affirmed to increase investment in Vietnam.
“We are working to find concrete ways tostrengthen the bilateral trading relationship, including the possibility of abilateral free trade agreement, in order to support economic growth in bothcountries,” said Tami Overby, senior vice president for Asia of the US Chamberof Commerce (Amcham).
Meanwhile, AmCham Executive Director AdamSitkoff expressed his confidence in the upward growth trend of trade andinvestment relations between Vietnam and the US.
“AmCham supports a path towards a US-Vietnamfree trade agreement which would help increase bilateral trade and investment,and which would create wealth and job opportunities for people in bothcountries,” he said.
Regarding the ongoing visit to the US by PrimeMinister Nguyen Xuan Phuc, Minister Nguyen Chi Dung said this event holds asignificant meaning to elevate the bilateral comprehensive partnership to a newheight.
This is an excellent opportunity for Vietnam toboost trade and investment relations with the US, he said, adding that 80-90 Vietnamesebusinesses are accompanying the PM to seek new cooperation agreements.
The two countries’ leaders are scheduled to holdtalks to discuss measures to promote the bilateral comprehensive partnership inthe coming time, especially in the fields of politics, external affairs,economics, and trade.
Vice President of AmCham Michael Kelly told Dautu reporters that the US business community is much awaiting the PM’s visit.
“My experiences suggest that the Vietnamesegovernment is committed to implementing reforms and supporting American andVietnamese business operations. I have received reassurances that there wouldbe a level playing field for US investments in Vietnam as part of a mutuallybeneficial trade relationship.”-VNA
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