Viet Nam and the US have upgraded their relationship to a Comprehensive Strategic Partnership, opening up huge opportunities for businesses in the two countries. In order to help businesses grasp and anticipate opportunities, on the afternoon of November 10, 2023, in Da Nang, the American Chamber of Commerce in Vietnam - Da Nang Branch (Am Cham Da Nang) and the Da Nang Young Entrepreneurs Association jointly organized the Forum "Comprehensive strategic partnership between Viet Nam and the United States - What opportunities for Vietnamese businesses". Attending the forum, there was the US Ambassador to Viet Nam - Marc E.Knapper; Standing Vice Chairman of Da Nang City People's Committee - Ho Ky Minh; Vice Chairman of Quang Nam Provincial People's Committee - Ho Quang Buu; leaders of relevant departments, divisions, branches, units and organizations; with nearly 300 businesses operating in Da Nang city and many provinces and cities across the country; and representatives of some American businesses.
Speaking at the forum, Ambassador Marc E.Knapper expressed his joy because the cooperative relationship between Vietnam and the United States has been achieving many positive results: two-way trade increased to nearly 140 billion USD, Vietnam is one of the major trading partners of the United States in Southeast Asia and the United States is in the top 10 countries investing in Vietnam. President Joe Biden during his visit to Viet Nam in September 2023 issued a joint statement upgrading the relationship between the two countries to a comprehensive strategic partnership.
US Ambassador to Vietnam Marc E.Knapper delivering his speech
Erasing obstacles to facilitate US investors in the field of semiconductor
Da Nang currently attracts 81 investment projects from the United States with a total capital of more than 487 million USD (including 19 information technology projects). A number of projects with major US brands are operating in Da Nang such as Coca-Cola, Keytronic, Kimberly-Clark... In particular, the investor's Sunshine Aerospace Components Factory project USA is a typical project in Da Nang High-Tech Park.
Permanent Vice Chairman of Da Nang City People's Committee Ho Ky Minh said that Da Nang determines that in the coming time the United States will be a key market to promote cooperation and attract investment. To effectively implement this goal, Da Nang prioritizes investment resources to develop dynamic infrastructure projects, forming synchronous and modern infrastructure. The City continues to remove difficulties and obstacles regarding administrative procedures, planning, and land according to inspection conclusions, inspections, and judgments; Review land funds to have appropriate planning and call for investment plans. In particular, the City focuses on attracting strategic and key investors in accordance with its development orientation. According to the Standing Vice Chairman of the People's Committee of Da Nang City, the fields in which US businesses have strengths are also the fields in which Da Nang wants to attract investment, notably information technology and high-tech manufacturing, automation, semiconductor industry, artificial intelligence, supporting industry, healthcare, education, etc.
Vice Chairman of the People's Committee of Da Nang City delivering his speech
Opportunities for export businesses
Mr. Le Tri Hai - Chairman of the Da Nang Young Entrepreneurs Association said that the Forum with 3 discussion sessions includes High Quality Education; Infrastructure and production; Small and medium enterprises and supply chains. These discussion sessions attract many famous speakers and businessmen, creating conditions for the business community of Da Nang and Quang Nam to have a broader view of opportunities as well as to make adjustments to their business strategies. to meet the global value chain when many American businesses invest in Vietnam.
Meanwhile, Mr. Ho Quang Buu - Vice Chairman of Quang Nam Provincial People's Committee said that the United States is currently Quang Nam's largest export market, accounting for more than 56% (more than 1.1 billion USD) of the total turnover. The province's export quota in 2022. Notably, THACO has signed cooperation agreements with 20 US customers, exports to the US market reached 150 million USD in total revenue last year. In addition, Quang Nam enterprises also export a number of products to the United States such as garments, leather shoes, wooden products, electronic devices, light bulbs, electronic chips, semi-trailers, and automobile industry components. .. However, Mr. Buu said, currently the United States is a market with many complex regulations and procedures, Quang Nam businesses have to face trade barriers, technical barriers, and hygiene standards. Strict food safety. With the establishment of diplomatic relations between Vietnam and the United States, Mr. Buu hopes that in the coming time, Quang Nam businesses will have more favorable opportunities in the US export market.
Delegates attending the Forum
Ambassador Marc E.Knapper acknowledged the positive contributions to strengthening the bilateral relationship of the two countries from the efforts of two associations: Amcham Da Nang and the Da Nang Young Entrepreneurs Association. The two associations play an important role in calling and convening the private sector with many businesses participating enthusiastically. Besides the private sector, leaders of provinces and cities in Da Nang and Quang Nam have had many activities to support the promotion of cooperative relationships between businesses of the two countries.
Many discussions suggested opportunities for cooperation between businesses on both sides
The forum spent time in 3 discussion sessions on 3 topics: High quality education; Infrastructure and production; Small and medium-sized enterprises and supply chains, to help the business community of Da Nang and Quang Nam have a broader view of opportunities as well as adjust their business strategies to meet the price chain. global rule.
Photos of discussion sessions and leaders of both sides taking photos
It is known that on October 14, 2022, the American Chamber of Commerce in Vietnam - Da Nang Branch and the Da Nang Young Entrepreneurs Association officially signed a memorandum of understanding to promote trade cooperation and dialogue. community policy and responsibility. Since then, the two sides have promoted many activities. And the Forum on November 10, 2023 is one of the practical activities, concretizing the cooperation program between the two associations. Thereby, helping businesses in Da Nang and the Central region and US businesses seize cooperation opportunities in the context that Vietnam and the US have upgraded their relationship to a comprehensive strategic partnership.
IPA Da Nang
