US businesses exploring investment, business opportunities in Vietnam

Representatives of more than 50 US companies will visit Vietnam from March 21-22 to discuss investment and business opportunities under an annual programme hosted by the US-ASEAN Business Council.

Vu Tu Thanh, the council’s representative in Vietnam, said the body has organised these events for three decades, adding that this is the biggest ever mission in the country.

Streaming giant Netflix, planning to open an office in Vietnam, and many other companies that already have business or production facilities in Vietnam such as Apple, Coca-Cola and PepsiCo as well as those intending to expand their operations in the Southeast Asian nation are among the participants.

According to Thanh, some companies are interested in Vietnam as a manufacturing hub and provider of services, with its economic growth topping 8% last year.

Among them is SpaceX which is looking to sell its satellite internet services to Vietnam and other countries in the region.

The mission will also include semiconductors companies, pharmaceutical giants Pfizer and Johnson & Johnson, medical device maker Abbott, financial firms Visa and Citibank, internet and cloud companies Meta and Amazon Web Services, he said.