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American businesses increasingly seek opportunities in ASEAN

Cong Tung (VTV reporter residing in the US)Sunday, May 15, 2022 09:00 GMT+7

An assembly line of electrical wiring systems for cars, exported to the US market. (Photo: Huy Hung/VNA)

Mr. Kyle Nold – business owner from Miami, USA is looking for an import partner from Vietnam. The reduction of procedures and the relaxation of investment restrictions, along with the guaranteed quality of goods, have made Vietnam an increasingly attractive destination for American businesses.

Mr. Kyle Nold said: “We are looking for business partners from Vietnam. We want to build a good relationship with you. So far, we have received a number of exported products. from Vietnam to the US, to Miami, then Texas”.

With a market of 662 million people and the fifth largest economy in the world today, ASEAN is currently the largest US investment destination in the region. US investment in ASEAN reached 388 billion USD, larger than US investment in China, Korea, India and Japan combined.

Among the 10 ASEAN countries, in addition to Vietnam, Singapore and Indonesia have been assessed by JPMorgan as the hottest markets, attracting investment capital from the US.

“More and more American businesses are focusing on investing in Southeast Asian countries to increase investment capital, focusing on mergers and acquisitions activities. American businesses pay more attention because they are afraid of inconsistencies. stable in doing business with China, as well as the current US-China tension,” said Mr. Nirav Patel – Chairman of Asia Group.

The US is ASEAN’s second largest trading partner. ASEAN has established and led a series of forums and cooperation frameworks in the region to attract the participation of partners, especially big countries, in which the US always attaches importance to and actively participates in these frameworks. this suffering.

“ASEAN is an important partner of the US and the US has always recognized that ASEAN has a central role in the Indo-Pacific region. In fact, ASEAN is in a connecting position in the Indo-Pacific. Therefore, the US government urgently needs to meet, connect and exchange ideas with ASEAN”, said Mr. Nguyen Quoc Dung – Vietnamese Ambassador to the US.

The ASEAN-US Summit will be an opportunity for hundreds of ASEAN enterprisesin which Vietnamese enterprises have the opportunity to contact, exchange and promote trade and investment in order to attract strong capital from US businesses into the region.

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