Amcham: Vietnam Realty, Tourism to Be Most Attractive to U.S. Firms This Yr
Vietnam’s realty and tourism sectors will be the most attractive to U.S. investors in 2010, said Executive Director of the American Chamber of Commerce (AmCham) Vietnam in Ho Chi Minh City Herb Cochran.
Cochran was quoted by the Thoi Bao Kinh Te Sai Gon newspaper as saying that many the U.S. is now home to many leading hotel operators, like Hyatt Group which has invested in over 400 real estate projects in 45 countries worldwide.
Lots of U.S. companies are also eyeing Vietnam’s projects in electronics and auto production, he added.
The Amcham official noted that many U.S. firms see Vietnam as the top choice for their investment in ASEAN to carry out their “China plus one” or “China and India plus one” business strategies.
They have built several factories in China and India and want to select one country in ASEAN for their expansion, he explained.
He, however, said that foreign investors, including those from the U.S., are still facing with barriers to invest in Vietnam such as complicated administrative procedures, lack of qualified workers and weak infrastructure.
Last year, the U.S.’s companies invested $9.8 billion in Vietnam in 2009, ranking the first among foreign investors in the country in the year. (thesaigontimes.vn)
Vietnamese
