Vinh Phuc Promotes Investment in California, U.S

11:48:28 AM | 26/9/2019

Recently, under the investment promotion program in the U.S, Vinh Phuc Provincial People's Committee in collaboration with the Consulate General of Vietnam in San Francisco and the Vietnamese American Business Association (VABA) organized the investment promotion seminar in Oakland, California, the U.S.

Present at the  seminar was Mr. Nguyen Van Tri, Chairman of the Provincial People's Committee, Head of the Investment Promotion Delegation in the U.S and members of the delegation; Mr. Nguyen Trac Toan, Consul General of the Socialist Republic of Vietnam in San Francisco; Mr. Rebeca Kaplan, President of Oakland City Council; Mr. David Duong, President of VABA, Mr. George G. Saxton, Executive Director of San Francisco-Ho Chi Minh City Sister City Commission with more than 50 leading enterprises in California and other states and economic regions of the U.S.

In the opening speech of the seminar, Mr. Nguyen Trac Toan introduced the situation of Vietnam – U.S relations, the current environment and investment and business opportunities in Vietnam. Mr. Toan emphasized that this seminar was designed to promote investment, improve the efficiency of economic and trade relations between Vietnam and the U.S in general and Vinh Phuc province in particular. This was also an opportunity for Vietnamese and US enterprises to meet, share and update information, business environment and investment opportunities between the two countries.

Speaking at the seminar, Mr. David Duong, President of VABA, said that VABA was established in San Jose, the capital of Silicon Valley, the site of the largest Vietnamese population in North America. The goal of VABA is to strive for the strength and effectiveness of the U.S business community through connection, cooperation, education and open communication. VABA's mission is to support the interests of the U.S business community as well as support and connect Vietnamese businesses in North America with each other and with the rest of the world. Mr. David Duong highly appreciated the development of Vinh Phuc province as well as the significance of this seminar. Currently, there are many U.S businesses interested in investing in Vietnam. This is an opportunity for U.S businesses to understand more about Vietnamese market as well as Vinh Phuc province.

At the seminar, Mr. Nguyen Van Tri introduced an overview of Vinh Phuc and opportunities for investment cooperation in the province. Over the past years, Vinh Phuc has focused on exploiting potential and advantages, promoting industrial development to create growth momentum and economic restructuring at a fast pace, increasing budget revenue and investing in urban and rural infrastructure development, as well as service industry development. By the end of July 2019, Vinh Phuc has 362 FDI projects from 17 countries and territories with a total registered capital of over US$4.8 billion, ranking 19th out 63 provinces and cities in terms of attracting foreign investment.

Through the seminar, Vinh Phuc province called on U.S investors to invest in the province in the fields of: Automotive engineering; electronic technology; supporting industries of automotive engineering, electronics; High-tech agriculture; new material; recycled energy; travel; education and training, health care; environment treatment; and smart city.

The participating businesses were interested in various areas such as preferential policies, investment support of the province, human resources meeting the business’s needs, tax policies, market demand in the supermarket areas, distribution channels for food and household goods, banking, finance, auditing, real estate, construction, high technology, electrical equipment, import and export, trade, design consultancy.

The investment promotion seminar in Oakland, California, U.S opened up many opportunities to attract investment in Vinh Phuc from the U.S investors.

Nguyet Tham