An investment promotion conference themed “My Vietnam - your investment destination” is taking place in New York City, the US from July 1- 5 with the purpose of strengthening US investors’ confidence in development potential for the Vietnam market.
The event hosted by the State Securities Commission (SCC), the Vietnam Ministry of Finance in collaboration with US partners is designed to create a substantive dialogue channel helping US businesses and investors better understand the situation in Vietnam and the Government’s renewal policies toward building a comprehensive and extensive partnership in the financial sector for the benefit of both countries.
Those in attendance included Finance Minister Dinh Tien Dung, the head of Vietnam’s Permanent Representative Delegation to the UN, Ambassador Nguyen Phuong Nga, Marc Mealy, Vice President for Policy of the US-ASEAN Business Council, the Harbinger Foundation President, along with more than 150 Vietnamese and US business representatives.
In his speech, Finance Minister Dinh Tien Dung highlighted calendar year 2015 as a landmark of the 20th anniversary of normalized Vietnam-US relations and a good opportunity for spurring cooperation between the two nations.
This year gives a chance to both countries to look back at 20 years of bilateral relations in order to work out proper solutions for promoting stronger trade and investment relations thus elevating the cooperation between the two governments to a higher level for mutual benefit.
The conference have two parts. The first touches upon securities policies between Vietnamese representatives and American investors and companies, to collect feedback from the US side.
Through the discussion, Vietnam will show its commitment to and appreciation for American businesses and investors.
In the second part, companies will discuss their experience and opportunities operating in Vietnam’s financial market.
Currently, the US is one of Vietnam’s largest economic trade and investment partner. As of February 2015, the US poured US$11 billion into 729 investment projects in Vietnam, ranking 7th among 101 countries and territories running direct investment in Vietnam.
A US-invested project in Vietnam has an average capital level of about US$15.35 million, higher than the average rate of a foreign investment project in the country at US$14.3 million. These figures signify US businesses and investors’ keen interest as well as their important role in helping boost Vietnam’s economic growth.
However, US indirect investment in Vietnam remains modest compared to US investors’ potential and the capital absorption capacity of the Vietnamese market. Therefore, the segment of the Vietnam capital market still boasts huge potential for US investors.
With the highly increasing trend of international integration and cooperation in the region and the world grounded on 20 years of the comprehensive cooperation, it is hoped that the economic ties between Vietnam and the US will continue to grow and flourish in the time to come.
(VOV)
